Equipment investment and the Solow model

被引：38

作者：

Temple, J ^{[1
]}

机构：

[1] Univ Oxford Hertford Coll, Oxford OX1 3BW, England

[2] Univ Oxford, Inst Econ & Stat, Oxford OX1 2JD, England

来源：

OXFORD ECONOMIC PAPERS-NEW SERIES | 1998年 / 50卷 / 01期

基金：

英国经济与社会研究理事会;

关键词：

D O I：

10.1093/oxfordjournals.oep.a028635

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the correlation between equipment investment and economic growth, and its compatibility with the Solow growth model. The paper improves on previous work by starting from an explicit theoretical model, using recent data on human capital, taking a rigorous approach to outliers, using instrumental variables, and taking unobserved heterogeneity into account. Rates of return to investment, and their precision, are estimated. The main finding is that the implied returns to equipment investment are very high in developing countries.

引用

页码：39 / 62

页数：24

共 44 条

[1]

ABEL AB, 1992, BROOKINGS PAP ECO AC, P200

[2] REASSESSING THE SOCIAL RETURNS TO EQUIPMENT INVESTMENT [J].