Some Empirics on Economic Growth under Heterogeneous Technology

A new econometric approach to testing for economic growth convergence is overviewed. The method is applicable to panel data, involves a simple regression based one-sided t-test, and can be used to form a clustering algorithm to assess the existence of growth convergence clubs. The approach allows fo...

Full description

Saved in:
Bibliographic Details
Main Authors: PHILLIPS, Peter C. B., SUL, Donggyu
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2007
Subjects:
Online Access:https://ink.library.smu.edu.sg/soe_research/164
https://ink.library.smu.edu.sg/context/soe_research/article/1163/viewcontent/EmpiricsEconomicGrowth_JoM_2007.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English
id sg-smu-ink.soe_research-1163
record_format dspace
spelling sg-smu-ink.soe_research-11632018-12-13T06:38:05Z Some Empirics on Economic Growth under Heterogeneous Technology PHILLIPS, Peter C. B. SUL, Donggyu A new econometric approach to testing for economic growth convergence is overviewed. The method is applicable to panel data, involves a simple regression based one-sided t-test, and can be used to form a clustering algorithm to assess the existence of growth convergence clubs. The approach allows for heterogeneous technology, utilizes some new asymptotic theory for nonlinear dynamic factor models, and is easy to implement. Some background growth theory is given which shows the form of augmented Solow regression (ASR) equations in the presence of heterogeneous technology and explains sources of potential misspecification that can arise in conventional formulations of ASR equations that are used to analyze growth convergence and growth determinants. A short empirical application is given illustrating some aspects of the methodology involving technological heterogeneity and learning in growth patterns for selected groups of countries. 2007-09-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soe_research/164 info:doi/10.1016/j.jmacro.2007.03.002 https://ink.library.smu.edu.sg/context/soe_research/article/1163/viewcontent/EmpiricsEconomicGrowth_JoM_2007.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Convergence parameter Conditional convergence Determinants of growth Economic growth Growth convergence Heterogeneity Learning Neoclassical economics Speed of learning Transition curve Transitional divergence Econometrics Macroeconomics
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Convergence parameter
Conditional convergence
Determinants of growth
Economic growth
Growth convergence
Heterogeneity
Learning
Neoclassical economics
Speed of learning
Transition curve
Transitional divergence
Econometrics
Macroeconomics
spellingShingle Convergence parameter
Conditional convergence
Determinants of growth
Economic growth
Growth convergence
Heterogeneity
Learning
Neoclassical economics
Speed of learning
Transition curve
Transitional divergence
Econometrics
Macroeconomics
PHILLIPS, Peter C. B.
SUL, Donggyu
Some Empirics on Economic Growth under Heterogeneous Technology
description A new econometric approach to testing for economic growth convergence is overviewed. The method is applicable to panel data, involves a simple regression based one-sided t-test, and can be used to form a clustering algorithm to assess the existence of growth convergence clubs. The approach allows for heterogeneous technology, utilizes some new asymptotic theory for nonlinear dynamic factor models, and is easy to implement. Some background growth theory is given which shows the form of augmented Solow regression (ASR) equations in the presence of heterogeneous technology and explains sources of potential misspecification that can arise in conventional formulations of ASR equations that are used to analyze growth convergence and growth determinants. A short empirical application is given illustrating some aspects of the methodology involving technological heterogeneity and learning in growth patterns for selected groups of countries.
format text
author PHILLIPS, Peter C. B.
SUL, Donggyu
author_facet PHILLIPS, Peter C. B.
SUL, Donggyu
author_sort PHILLIPS, Peter C. B.
title Some Empirics on Economic Growth under Heterogeneous Technology
title_short Some Empirics on Economic Growth under Heterogeneous Technology
title_full Some Empirics on Economic Growth under Heterogeneous Technology
title_fullStr Some Empirics on Economic Growth under Heterogeneous Technology
title_full_unstemmed Some Empirics on Economic Growth under Heterogeneous Technology
title_sort some empirics on economic growth under heterogeneous technology
publisher Institutional Knowledge at Singapore Management University
publishDate 2007
url https://ink.library.smu.edu.sg/soe_research/164
https://ink.library.smu.edu.sg/context/soe_research/article/1163/viewcontent/EmpiricsEconomicGrowth_JoM_2007.pdf
_version_ 1770569044776189952