Estimates of the steady state growth rates for some European countries

Abstract

This paper estimates the steady state growth rates for the main European countries with an extended version of the Solow (1956) growth model. Total factor productivity is assumed a function of human capital, trade openness and investment ratio. We show that these factors, with some differences, have played an important role to improve the long run growth rates of Italy, Spain, France, UK, and Ireland. A few policies to improve the long-run growth rates for these countries are suggested.

Uganda’s experience with debt and economic growth: an empirical analysis of the effect of public debt on economic growth—1980–2016

“…The effect of public debt on economic growth thus enters the endogenous growth theory as a policy variable that affects the rate of technology growth. This modification of the endogenous growth theory is in line with Casadio et al (2012). The growth rate of technology is endogenous, since increased saving propensity affects its time path.…”

“…To model the effect of public debt on economic growth of Uganda, we adopt the endogenous growth model which argues that economic growth is generated from within a system as a direct result of internal processes. To do this, we extend a model modified by Casadio et al (2012) who estimated the steady-state growth rates for some European countries. In this model, Casadio et al (2012) start with the following Cobb-Douglas production function in per capita terms:…”

“…To do this, we extend a model modified by Casadio et al (2012) who estimated the steady-state growth rates for some European countries. In this model, Casadio et al (2012) start with the following Cobb-Douglas production function in per capita terms:…”

“…Expressing growth rate of Gross Domestic Product, Labor and Capital in per capita terms implies that Casadio et al (2012) assume that According to Casadio et al (2012), g A is the growth rate of technology. According to the Solow growth model, the growth rate of technology grows exogenously yet according to the endogenous growth model; the growth rate of technology can be affected by some variables that are associated with technology transfer, research and development, and other policies' choices such as the level of public debt technology transfer (Dasgupta 2010).…”

Do countries belonging to the same region suggest the same growth enhancing variables? Evidence from selected South Asian countries

“…8 Eq. (7) can be further extended by assuming that τ and υ are functions of other variables (see Rao, 2010 andCasadio et al, 2012, among others):…”