Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/50412
Authors: 
Hartwig, Jochen
Year of Publication: 
2010
Series/Report no.: 
KOF working papers // KOF Swiss Economic Institute, ETH Zurich 264
Abstract: 
Against the backdrop of Baumol's model of unbalanced growth, a recent strand of literature has presented models that manage to reconcile structural change with Kaldor's stylized fact of the relative constancy of per-capita GDP growth. Another strand of literature goes beyond this, arguing that the expenditure shifts toward Baumol's stagnant sector stimulate rather than dampen long-term economic growth because of the human capital-accumulating nature of major stagnant services (like health care and education). This paper tests the relationship between structural change and economic growth empirically by means of a Granger-causality analysis of a panel of 18 OECD countries.
Abstract (Translated): 
@Download aus dem Internet, Stand: 24.11.2011
Subjects: 
Economic growth
Structural change
Human capital
Panel Grangercausality tests @Download aus dem Internet, Stand: 24.11.2011
JEL: 
C12
C23
I10
I20
J24
O41
Document Type: 
Working Paper

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