Abstract
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.
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 language | English |
|---|---|
| Qualification | Masters |
| Awarding Institution |
|
| DOIs | |
| Publication status | Unpublished - 1995 |
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- Brindley_Damian_Mark_1995
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