EnglishCookie löschen - von nun an wird die Spracheinstellung Ihres Browsers verwendet.
Koman, Reinhard; Marin, Dalia (1999): Human capital and macroeconomic growth: Austria and Germany 1960 - 1997. An update. Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS), 69
Volltext auf 'Open Access LMU' nicht verfügbar.


In an influential paper Mankiw, Romer, and Weil (1992) argue that the evidence on the international disparity in per-capita income levels and growth rates is consistent with a standard Solow model, once it has been augmented to include human capital as an accumulable factor. In a study on Austria and Germany we augment the Solow model to allow for the accumulation of human capital. Based on a perpetual inventory procedure we construct measures of human capital stocks. We find that the time series evidence on Austria and Germany is not consistent with a human-capital-augmented Solow model. Factor accumulation appears to be less (and not more) able to account for the cross-country growth performance of Austria and Germany when human capital accumulation is included. Our results indicate that differences in technology are a driving factor in understanding cross-country growth between these two neighboring countries with similar political and institutional background.