The endogeneity of the natural rate of growth – an empirical study for Latin‐American countries

The aim of this paper is to analyse the sensitivity of the natural rate of growth to the actual rate of growth for a sample of 11 Latin‐American countries, assuming the natural rate to be determined endogenously by changes in the actual rate of growth. The natural rates of growth are estimated in a system of SUR estimations over the period 1986–2003. In order to determine whether they react endogenously to changes in the actual rate of growth, a dummy variable for boom periods is added to the system of regressions. The results confirm the hypothesis about the endogeneity of the natural rate of growth.     

Trade liberalisation and endogenous growth: A q-theory approach

This paper introduces a new approach to the analysis of endogenous growth effects and uses it to illustrate two novel trade-and-growth links. The approach’s simplicity allows us to introduce scale economies and imperfect competition into the R&D and financial intermediation sectors of a Romer–Grossman–Helpman endogenous growth model. We show that trade liberalisation can stimulate growth via a procompetitive effect in the R&D sector and/or financial sector.     

我国国有建筑企业的技术进步度量

以国有建筑企业为代表，建立了国有建筑业企业的生产函数，得出了规模报酬递增和资本及劳动两生产要素对产出拉动作用都很大的结论；利用技术进步度量理论对国有建筑企业的产出增长率作了分解分析，得到了外延产出占支配地位和科技进步只有16.4%的贡献率，以及存在明显规模经济的结果。     

Health Insurance, Liquidity and Growth

Within the context of an endogenous growth model, it is shown that in the presence of health risks which influence household income, the introduction of a private insurance company increases the long-term economic growth rate. The introduction of such an institution has two effects on savings: a level effect and a composition effect. Although the presence of this risk-reducing institution induces a decrease in the level of total savings, as suggested in earlier papers, the rate of illiquid savings, which contribute to growth, increases.
JEL Classification E 1; G 2; O 1; O 4     

中国城市经济增长的特征分析

与传统的城市经济增长模式相比,当前中国城市经济增长呈现出一系列新特点.运用截面数据回归对影响中国城市经济增长的因素进行分析的结论显示:不同行政级别城市具有不同的增长水平,城市经济增长也存在"中部塌陷"问题.城市内部的产业结构、人力资本密集度、对外开放程度是促进城市经济增长的关键因素.     

自主创新理论溯源及现实分析

自主创新是我国面向未来的重大战略选择。作者在本文中通过人力资本理论及内生经济增长理论尝试自主创新的理论溯源,并着力从宏观和微观层面探讨我国当前提升自主创新能力的必要性和可行性,指出唯有走自主创新之路方可实现社会经济的可持续发展。     

The equipment hypothesis and US economic growth

In several articles published in the 1990s, de Long and Summers argued that investment in producer durables had a high propensity to generate externalities in using industries, resulting in a systematic and substantial divergence between its social and private return. They maintained, moreover, that this was not the case for structures investment. Together, these claims constitute the equipment hypothesis. This paper explores the degree to which the history of US economic growth in the 20th century supports it.     

Going Alone: The Case for Relaxed Reciprocity in Freeing Trade

We examine the output elasticity of infrastructure for four South Asian countries viz., India, Pakistan, Bangladesh, and Sri Lanka using panel cointegration techniques for the period 1980–2005. In this context, we develop an index of infrastructure stocks and investigate the impact of infrastructure on output. The study finds a long-run equilibrium relationship between output and infrastructure along with other relevant variables, such as gross domestic capital formation (GDCF), labor force, international trade and human capital. The results reveal that GDCF, labor force, export and expenditure on human capital exhibit a positive contribution to output. More importantly, infrastructure development contributes significantly to output growth in South Asia. Further, the panel causality analysis shows that there is mutual feedback between total output and infrastructure development.     

AN ATTEMPT TO EXPLAIN DIFFERENCES IN ECONOMIC GROWTH: A STOCHASTIC FRONTIER APPROACH

Total factor productivity (TFP), factor accumulation, and growth are analysed for a panel of 40 countries in 2001–11. TFP growth and technical inefficiency are estimated using a stochastic frontier model. Environmental variables are found to have an important role in explaining differences in inefficiency across countries. Over 2001–11, the general improvement in technical efficiency of countries is almost outweighed by technological regress. Results indicate that differences in factor accumulation between OECD and emerging economies are more important than differences in TFP change to explain differences in economic growth. Results also indicate negative and significant random shocks for the OECD countries.