OECD Economic Studies

Discontinued
Frequency
Semiannual
ISSN: 
1609-7491 (online)
ISSN: 
0255-0822 (print)
http://dx.doi.org/10.1787/16097491
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OECD Economic Studies is the twice-yearly journal of the OECD Economics Department. It features articles in the area of applied macroeconomics and statistical analysis, generally with an international or cross-country dimension. Articles are derived from work of the Organization’s intergovernmental committees, including areas of work outside the Economics Department’s focus. Now published as a part of the OECD Journal.

Also available in French
Article
 

The Driving Forces of Economic Growth

Panel Data Evidence for the OECD Countries You do not have access to this content

English
 
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Author(s):
Andrea Bassanini, Stefano Scarpetta
14 Jan 2002
Pages:
61
Bibliographic information
No.:
10,
Volume:
2001,
Issue:
2
Pages:
9–56
http://dx.doi.org/10.1787/eco_studies-v2001-art10-en

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This paper discusses links between policy settings, institutions and economic growth in OECD countries on the basis of pooled cross-country time-series regressions. The novel econometric approach used in the paper allows short-term adjustments and convergence speeds to vary across countries, in accordance with most theoretical models, while imposing restrictions only on the longrun coefficients. In addition to the "primary" influences of physical and human capital accumulation, the results confirm the importance for growth of R&D activity, the macroeconomic environment, trade openness and well developed financial markets. They also confirm that many of the policy influences operate not only via the overall efficiency of factor use but also indirectly via the mobilisation of resources for fixed investment.

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