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Title:Testing growth theories: Time series evidence PDF Logo
Authors:Gundlach, Erich
Issue Date:1992
Series/Report no.:Kiel Working Papers 516
Abstract:Recent time series studies reject the hypothesis of catching up in terms of international per capita incomes as derived from the traditional neoclassical growth model. In turn, they seem to support new theories of economic growth which are capable of explaining persistent international differences in per capita incomes. In this paper I show that this finding is derived under a very restrictive econometric framework. Using a more flexible specification that allows for conditional convergence in per capita incomes and a gradual adjustment over time I derive results that are more favorable for the traditional growth model.
Subjects:development of per capita incomes
cointegration analysis, dynamic specification
JEL:C32
O47
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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