Exogenous and endogenous models of economic growth

Damian Mark Brindley

    Research output: ThesisMaster's Thesis

    291 Downloads (Pure)


    The focus of this thesis is the examination of cross-country and time series
    data to distinguish between specific classes of exogenous and endogenous
    models of economic growth. Chapter 1 describes the broad trends in the
    data, emphasising the wide variation in growth rates, both cross-country and
    over time. Chapter 2 investigates the theoretical models of growth, focusing
    on the differences between exogenous and endogenous specifications.
    Chapter 3 surveys the empirical literature relating to cross-country estimates
    of growth. Four related issues are addressed, namely convergence, human
    capital, physical capital, and the role of government policy. It is argued that
    this evidence is insufficient to differentiate between exogenous and
    endogenous models of growth. Chapter 4 presents new time series evidence,
    based on data in Maddison (1993) for 8 industrialised countries.
    Specifically, it examines the properties of output series to test between
    stochastic variants of Solow's (1956) neoclassical, exogenous growth model,
    and Rebelo's (1991) constant returns, endogenous model of economic
    growth. Chapter 5 presents the conclusions of this thesis.
    Original languageEnglish
    Awarding Institution
    • The University of Western Australia
    Publication statusUnpublished - 1995

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