A Glance at Growth Accounting: Cobb-Douglas Model for G-7 (1950-2018)

Authors

Abstract

In this article, we inspected the impact of human capital on economic growth by estimating a Cobb-Douglas model for G-7 countries during (1950-2018). Our results show that, human capital has a positive impact on economic growth in the long-run with a contribution of 0.44% whereas evidence is only found for physical capital for the short-run. While the current data for G-7 with the application of pmg reveals that tfp was insignificant.

Published

2020-12-31

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Section

Original Papers