The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala

Mankiw et al. (1992) have extended the Solow (1956) model by augmenting the production function with human capital. Its empirical success is impressive and it showed a procedure to improve the explanatory power of the neoclassical growth model. This article suggests an empirical procedure to further...

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Main Authors:	Rao, B. Bhaskara, Gounder, Rukmini, Loening, Josef L.
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Employment Unemployment Wages Intergenerational Income Distribution Aggregate Human Capital E240 Human Capital Skills Occupational Choice Labor Productivity J240 Economic Development: Human Resources Human Development Income Distribution Migration O150 Measurement of Economic Growth Aggregate Productivity Cross-Country Output Convergence O470
Online Access:	http://hdl.handle.net/10986/4860

id	okr-10986-4860
recordtype	oai_dc
spelling	okr-10986-48602021-04-23T14:02:20Z The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala Rao, B. Bhaskara Gounder, Rukmini Loening, Josef L. Employment Unemployment Wages Intergenerational Income Distribution Aggregate Human Capital E240 Human Capital Skills Occupational Choice Labor Productivity J240 Economic Development: Human Resources Human Development Income Distribution Migration O150 Measurement of Economic Growth Aggregate Productivity Cross-Country Output Convergence O470 Mankiw et al. (1992) have extended the Solow (1956) model by augmenting the production function with human capital. Its empirical success is impressive and it showed a procedure to improve the explanatory power of the neoclassical growth model. This article suggests an empirical procedure to further extend the neoclassical growth model to distinguish between the growth and level effects of shift variables like the human capital. We use time-series data from Guatemala to show that while the growth effects of education are small, they are significant and dominate the level effects. 2012-03-30T07:30:06Z 2012-03-30T07:30:06Z 2010 Journal Article Applied Economics 00036846 http://hdl.handle.net/10986/4860 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Guatemala
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Employment Unemployment Wages Intergenerational Income Distribution Aggregate Human Capital E240 Human Capital Skills Occupational Choice Labor Productivity J240 Economic Development: Human Resources Human Development Income Distribution Migration O150 Measurement of Economic Growth Aggregate Productivity Cross-Country Output Convergence O470
spellingShingle	Employment Unemployment Wages Intergenerational Income Distribution Aggregate Human Capital E240 Human Capital Skills Occupational Choice Labor Productivity J240 Economic Development: Human Resources Human Development Income Distribution Migration O150 Measurement of Economic Growth Aggregate Productivity Cross-Country Output Convergence O470 Rao, B. Bhaskara Gounder, Rukmini Loening, Josef L. The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala
geographic_facet	Guatemala
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	Mankiw et al. (1992) have extended the Solow (1956) model by augmenting the production function with human capital. Its empirical success is impressive and it showed a procedure to improve the explanatory power of the neoclassical growth model. This article suggests an empirical procedure to further extend the neoclassical growth model to distinguish between the growth and level effects of shift variables like the human capital. We use time-series data from Guatemala to show that while the growth effects of education are small, they are significant and dominate the level effects.
format	Journal Article
author	Rao, B. Bhaskara Gounder, Rukmini Loening, Josef L.
author_facet	Rao, B. Bhaskara Gounder, Rukmini Loening, Josef L.
author_sort	Rao, B. Bhaskara
title	The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala
title_short	The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala
title_full	The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala
title_fullStr	The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala
title_full_unstemmed	The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala
title_sort	level and growth effects in the empirics of economic growth : some results with data from guatemala
publishDate	2012
url	http://hdl.handle.net/10986/4860
_version_	1764393026108522496

The Level and Growth Effects in the Empirics of Economic Growth : Some Results with Data from Guatemala

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