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doi:10.1111/ecor.1956.32.issue-2

Cited by 17 publications

(5 citation statements)

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“…The theory of economic growth has evolved over the years. The standard neoclassical economic growth model was developed by Solow (1956) and Swan (1956) in the 1950s. In this model, the savings rate and the Malthusian labour growth are exogenously given.…”

Section: Literature Reviewmentioning

confidence: 99%

Geographic proximity, trade and economic growth: a spatial econometrics approach

Amidi

Majidi

2020

Annals of GIS

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This paper examines economic growth in terms of 'bilateral trade flow' and 'geographical distance' using the spatial dynamic panel data model for the period 1992-2016. The findings illustrate that the effect of spatial spillover or spatial dependence is one of the main economic growth determinants. Also, we find out that spatial relationships across countries and the spatial effects of trade are quite relevant. A country's economic growth is actually affected by the performance of its neighbours and trade partners. This result suggests that the spillover effects of geographical position and trade partners are the key determinants of economic growth. In fact, overlooking such factors can result in misspecification of models. In addition, the findings confirmed that growth rate of labour force has a negative impact on economic growth while the formation of gross fixed capital has a significant positive effect.

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Section: Literature Reviewmentioning

confidence: 99%

Geographic proximity, trade and economic growth: a spatial econometrics approach

Amidi

Majidi

2020

Annals of GIS

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“…Herzer, Hühne, and Nunnenkamp (2014) find a significant increase of inequality in developing countries from FDI, with causality from FDI to inequality. 2 When neoclassical growth theory (Solow 1956;Swan 1956) replaced the Harrod-Domar theory, a new rationale for the flow of funds from rich countries to developing nations was found: as diminishing returns to capital, and a lower capital stock in developing countries are assumed, returns on capital should be higher in developing countries, enticing international capital from rich to poor countries, helping the latter catch up. This narrative also provided theoretical support for developing countries to utilize foreign investment, including FDI.…”

Section: The Link Between Fdi and Growth Theorymentioning

confidence: 99%

Does Foreign Direct Investment Generate Economic Growth? A New Empirical Approach Applied to Spain

2018

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Pavlínek (2004), analyzing the central European automobile industry, reports adverse effects of FDI. Pavlínek (2012) examines whether FDI in the same industry and region has enhanced research and development (R&D) in the host country and reports strong barriers to future development. Country studies in economic geography include Leichenko and Erickson (1997), who report a positive effect of FDI on US state-level export performance, and Sun (2001), reporting an uneven effect of FDI in China on export performance. Jones and Wren (2004) analyze the impact of FDI on employment in northeast England and question the policies of inward investment agencies. Cole, Elliott, and Zhang (2011) report an influence of FDI on the pattern of industrial pollution in China. Zhao and Zhang (2007), in a study on China, report that FDI may influence the urban agglomeration pattern. Phelps and Wood (2006) analyze the political economy of the interaction between global capital and local stakeholders.

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“…β-convergence equations lead to empirical results that answer whether (and how fast) per capita income differentials across regions diminish over time. This type of convergence analysis is based on the Solow (1956) and Swan (1956) neo-classical growth model which is about a single economy converging to a steady-state level of output growth that can be equal to zero. This growth rate can be positive if there is exogenous technological progress that is labor-augmenting.…”

Section: Regional β-Convergence Technological Spillovers and Spatial ...mentioning

confidence: 99%

Regional integration and the economic geography of Belarus

Celbiş

Wong

Guznajeva

2018

Eurasian Geography and Economics

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This study presents novel research on the economic geography of Belarus. The 118 regions of Belarus are examined in relation to the Eurasian Customs Union (EACU) through the period 2005-2014. Our estimation methods specifically take spatial and dynamic processes into account. We observe that EACU membership has corresponded to a slowdown in the process of regional economic convergence in Belarus, and intensified economic competition with a geographical dimension among regions. Furthermore, we find some evidence that urban and industrial regions, and regional clusters of private business activity have benefited more from the EACU relative to less urbanized areas. Additionally, spatial clusters and outliers are identified and compared across the periods prior and after the establishment of the EACU. Our preferred estimation model results suggest half-lives of convergence of about 9.4 and 31.5 years for the pre-EACU and EACU periods, respectively.

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Untitled

Cited by 17 publications

References 0 publications

Geographic proximity, trade and economic growth: a spatial econometrics approach

Geographic proximity, trade and economic growth: a spatial econometrics approach

Does Foreign Direct Investment Generate Economic Growth? A New Empirical Approach Applied to Spain

Regional integration and the economic geography of Belarus

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