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Testing the Validity of the Solow Growth Model: Empirical Evidence from Cross-Country Panel Data
American Economic & Social Review
View Archive Info| Field | Value | |
| Title |
Testing the Validity of the Solow Growth Model: Empirical Evidence from Cross-Country Panel Data
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| Creator |
Nkalu, Chigozie Nelson
Edeme, Richardson Kojo Chukwuma, Queen O. |
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| Description |
This study seeks to test for the validity of the Solow growth model using cross-country panel data. Panel OLS analysis was adopted following an extensive review of recent and related literature with output-side of the real GDP as the dependent variable with other variables like population, capital stock and employment as the independent. However, population and capital stock are positively impacting the output with statistically significant value, while employment is not an important variable in the model even though it exhibits a negative and statistically significant effect to the output. In conclusion, the estimation result conforms the postulations of the basic Solow and augmented Solow growth model thereby validating the Solow model across-countries.
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| Publisher |
Centre for Research on Islamic Banking & Finance and Business
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| Date |
2018-11-11
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion |
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| Format |
application/pdf
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| Identifier |
https://www.cribfb.com/journal/index.php/aesr/article/view/197
10.46281/aesr.v3i1.197 |
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| Source |
American Economic & Social Review; Vol 3 No 1 (2018): American Economic & Social Review; 18-22
2576-1277 2576-1269 |
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| Language |
eng
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| Relation |
https://www.cribfb.com/journal/index.php/aesr/article/view/197/224
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| Rights |
Copyright (c) 2018 Chigozie Nelson Nkalu, Richardson Kojo Edeme, Queen O. Chukwuma
http://creativecommons.org/licenses/by/4.0 |
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