Estimates of the Steady State Growth Rates for Ireland

Casadio, Paolo and Paradiso, Antonio and Rao, B. Bhaskara (2011): Estimates of the Steady State Growth Rates for Ireland.

Abstract

This paper estimates the steady state growth rate for Ireland with an extended version of the Solow (1956) growth model. We show that the education and trade openness have played an important role to improve the long-run growth rate. Policies to further improve the long-run growth rate are suggested.

• Item Type: MPRA Paper
• Language: English
• Keywords: SSGR, Economic Growth, Trade Openness, Education, Ireland.
• Subjects: C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies > O52 - Europe; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General

References

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Paradiso, A., and Rao, B. B. (2011) How to offset the negative trend growth rate in the Italian economy?, Applied Economics Letters, iFirst, DOI: 10.1080/13504851.2010.54306

Rao, B. B. (2010) Time-series econometrics of growth-models: A guide for applied economists, Applied Economics, 42, 73-86

Solow, R. M. (1956) A contribution to the theory of economic growth, Quarterly Journal of Economics, 70, 65-94