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GTAP Resources: Resource Display

GTAP Resource #731

"Economic Growth and Global Economic Analysis: Use Of The New Growth Theory"
by Roe, Terry

A non-technical overview of the new growth theory is provided from both an analytical and empirical perspective. Following a brief analytical sketch of the R&D based models, the results from fitting two structural models to data are presented. Results show the relative impacts on growth from trade and R&D based policies including technological spillovers from trade. The mechanism of inter-sectoral adjustments to the long-run growth path is also discussed. While the theory provides new insights into growth, some skepticism is raised as to its general applicability as an important structure in policy models. The need to apply behaviorally consistent dynamic models, e.g., of the Ramsey genre, to empirically based policy models is strongly supported.

Resource Details (Export Citation) GTAP Keywords
Category: 2001 Conference Paper
Status: Published
By/In: Presented at the 4th Annual Conference on Global Economic Analysis, Purdue University, USA
Date: 2001
Created: (7/8/2001)
Updated: Bacou, M. (7/18/2001)
Visits: 2,739
No keywords have been specified.

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