A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE

Detalhes bibliográficos
Autor(a) principal: Marquetti, Adalmir
Data de Publicação: 2009
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10868
Resumo: This paper employs a non-parametric method called local regression to test the Solow-Swan model against the endogenous growth models. The visualization of the aggregate production function reveals the presence of diminishing returns to capital, in particular, at low level of capital labor ratio. However, the evidence did not contradict the models of endogenous growth in which the marginal productivity of capital is bounded from below. The local regression fit of the gross profit rate showed that it declined as the capital labor ratio increased. Overall, the results support the Solow-Swan model, but indicate that the endogenous growth models are a close approximation for countries with high capital labor ratio.
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spelling A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODEA NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODECrescimento econômico. Métodos não-paramétricos. Função de produção.JEL ClassificationC14E20O40Economic growth. Non-parametric statistics. Convergence. Production function.JEL ClassificationC14E20O40This paper employs a non-parametric method called local regression to test the Solow-Swan model against the endogenous growth models. The visualization of the aggregate production function reveals the presence of diminishing returns to capital, in particular, at low level of capital labor ratio. However, the evidence did not contradict the models of endogenous growth in which the marginal productivity of capital is bounded from below. The local regression fit of the gross profit rate showed that it declined as the capital labor ratio increased. Overall, the results support the Solow-Swan model, but indicate that the endogenous growth models are a close approximation for countries with high capital labor ratio.Este artigo utiliza regressão local, um método não paramétrico, para testar o modelo de Solow-Swan em relação aos modelos de crescimento endógeno. A visualização da função de produção agregada revela a presença de retornos marginais decrescentes ao capital, em particular, para países com baixa relação capital-trabalho. A estimativa por regressão local da taxa bruta de lucro mostra que essa declina com o aumento da relação capital trabalho. Apesar dos resultados favorecerem o modelo de Solow-Swan, há indicações de que os modelos de crescimento endógeno representam uma boa aproximação para os países de elevada relação capital trabalho.UFRGS2009-10-14info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/1086810.22456/2176-5456.10868Análise Econômica; Vol. 25 No. 47 (2007): março de 2007Análise Econômica; v. 25 n. 47 (2007): março de 20072176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10868/6460Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessMarquetti, Adalmir2019-08-29T12:39:17Zoai:seer.ufrgs.br:article/10868Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2019-08-29T12:39:17Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
title A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
spellingShingle A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
Marquetti, Adalmir
Crescimento econômico. Métodos não-paramétricos. Função de produção.
JEL Classification
C14
E20
O40
Economic growth. Non-parametric statistics. Convergence. Production function.
JEL Classification
C14
E20
O40
title_short A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
title_full A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
title_fullStr A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
title_full_unstemmed A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
title_sort A NON-PARAMETRIC TEST OF THE SOLOW-SWAN GROWTH MODE
author Marquetti, Adalmir
author_facet Marquetti, Adalmir
author_role author
dc.contributor.author.fl_str_mv Marquetti, Adalmir
dc.subject.por.fl_str_mv Crescimento econômico. Métodos não-paramétricos. Função de produção.
JEL Classification
C14
E20
O40
Economic growth. Non-parametric statistics. Convergence. Production function.
JEL Classification
C14
E20
O40
topic Crescimento econômico. Métodos não-paramétricos. Função de produção.
JEL Classification
C14
E20
O40
Economic growth. Non-parametric statistics. Convergence. Production function.
JEL Classification
C14
E20
O40
description This paper employs a non-parametric method called local regression to test the Solow-Swan model against the endogenous growth models. The visualization of the aggregate production function reveals the presence of diminishing returns to capital, in particular, at low level of capital labor ratio. However, the evidence did not contradict the models of endogenous growth in which the marginal productivity of capital is bounded from below. The local regression fit of the gross profit rate showed that it declined as the capital labor ratio increased. Overall, the results support the Solow-Swan model, but indicate that the endogenous growth models are a close approximation for countries with high capital labor ratio.
publishDate 2009
dc.date.none.fl_str_mv 2009-10-14
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10868
10.22456/2176-5456.10868
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10868
identifier_str_mv 10.22456/2176-5456.10868
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10868/6460
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 25 No. 47 (2007): março de 2007
Análise Econômica; v. 25 n. 47 (2007): março de 2007
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
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