Mañana, JUEVES, 24 DE ABRIL, el sistema se apagará debido a tareas habituales de mantenimiento a partir de las 9 de la mañana. Lamentamos las molestias.
Knowledge spillovers in neoclassical growth model: an extension with public sector
Entity
UAM. Departamento de Análisis Económico, Teoría Económica e Historia EconómicaPublisher
UAM. Departamento de Análisis Económico, Teoría Económica e Historia EconómicaDate
2013Serie/Num.
Economic Analysis Working Paper Series. 07/2013ISSN
1885-6888Subjects
Speed of convergence; Growth models; Public policies; EconomíaAbstract
We propose a framework to analyze convergence between regions, incorporating the public sector
and technological knowledge spillovers in the context of a Neoclassical Growth Model. Secondly, we
apply novel estimation methods pertaining to the spatial econometrics literature introducing a spatial
autoregressive panel data model based on instrumental variables estimation. Additionally, we introduce
marginal effects associated with changing explanatory variables. Our model makes it possible
to analyze, in terms of convergence, the results obtained in Spanish regions with the policies implemented
during the period 1980–2007. The results support the idea that investments in physical, private
and public capital, as well as in education have a positive effect on regional development and cohesion.
Therefore, we can conclude that it is possible to obtain better results for regional convergence
with higher rates of public investment. We also obtain interesting results that confirm the existence of
spillover effects in economic growth and public policies, identifying their magnitude and significance
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Google Scholar:Álvarez Ayuso, Inmaculada
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Barbero Jiménez, Javier
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