| Publisher | Austrian Institute of Economic Research | ||
|---|---|---|---|
| Format | 291.1KB PDF | Date added | 01 Nov 2004 |
| Topics | Human Capital Management | ||
| Downloads | 63 | ||
This paper re-examines the determinants of growth of GDP per capita using panel data for OECD countries for the period 1970-1999 with data averaged over five-year periods from new perspectives. Firstly, the paper introduces indicators of innovation input and technological specialization simultaneously into the empirical growth equation. Secondly, the paper employs the system-GMM (Generalized-Method-of-Moments) panel estimator that controls for the possible specification bias when variables are highly persistent over time and the possible simultaneity bias.
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