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This 7 page paper discusses the idea of the inadequacies of cross-country growth studies. Bibliography lists 10 sources.
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7 pages (~225 words per page)
File: D0_HVGrowSt.rtf
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the same population growth rate, and tend to have the same attitude toward saving, and differ only "in terms of their initial capital-labor ratio," all countries will tend to converge
to the "same steady-state capital-labor ratio, output per capita and consumption per capita and, of course, the same growth rate" (The convergence hypotheses). That is, everything else being equal
except the ratio of capital to labor, the countries will progress at virtually the same rate. However, objections have arisen to cross-country growth studies; specifically that any study
that assumes economic development works the same way across a number of countries large enough to give a statistically significant sample is probably flawed. This paper discusses the idea
of the inadequacies of cross-country growth studies. Discussion There has been a "revival of interest in economic growth since the late 1980s" which has been accompanied "by
a series of cross-country growth studies whereby researchers have sought to determine the relative virtues of different growth models" (McDonald and Roberts, 1995, p. 413). In order to explain
the differences in growth rates, researchers have used "cross-section data sets for groups of countries" in which much of the data has been derived by "collapsing a time series" (McDonald
and Roberts, 1995, p. 413). A "time series" is defined as "A set of ordered observations on a quantitative characteristic of an individual or collective phenomenon taken at different
points in time. Usually the observations are successive and equally spaced in time" (Appendix D. glossary). It would seem that collapsing the series might have the effect of
distorting it. McDonald and Roberts indicate that the idea that "simple exponential time trends accurately represent the growth paths of the countries" is a presumption, not a fact
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