Paper #194

Títol:

Externalities and interdependent growth: Theory and evidence

Autor:

Antonio Ciccone

Data:

Octubre 1996

Resum:

I formulate and estimate a model of externalities within countries and technological interdependence across countries. I find that external returns to scale to physical capital within countries are 8 percent; that a 10 percent increase of total factor productivity of a country's neighbors raises its total factor productivity by 6 percent; and that a 2 percent annual growth rate of labor productivity can be explained as an endogenous response to an exogenous 0.2 percent annual growth rate of total factor productivity in the steady--state.

Paraules clau:

Spatial externalities, growth regressions, exogenous growth versus endogenous growth, human versus physical capital externalities

Codis JEL:

E13, O1, O3, O4

Àrea de Recerca:

Macroeconomia i Economia Internacional

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