期刊名称：Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
印刷版ISSN：1302-504X
电子版ISSN：2147-7973
出版年度：1997
卷号：12
期号：2
语种：English
出版社：Dokuz Eylül University
摘要：For several decades the literature. The engine of economic groMh is the exogenously given rate of U change in this theory. Empirical measure of this exogenous technical change is called Solaw residual For less developed countries the way to catch up industrially advanced countries is to hope realized Solow residuals be large enough. This is because, the rate of economic growth is policy invariant This means that the neoclassical growth model has nothing to say about growth miracles of the so called Asian tigers. Furthermore, the neoclassical growth theory implies that per capita income levels should eventually convergence. Therefore, it fails to explain sustained differences in growth rates across countries. The failure of the neoclassical growth model led to the development of endogenous growth models. Endogenous growth models try to explain economic growth endogenously rather than assuming it is exogenously given. An important result we can draw from the endogenous growth models is that convergence in per capita income levels may not hold even in the However, this conclusion still does not explain the sustained Л/ference in oita income levels and growth rates. This study shows that economic growth is not policy invariant Changes in tax rates and tax regimes have significant effects on the rate of economic growth. This means that a tax system that taxes investment less than others will have a favorable effect on the rate of economic growth. The effects of public goods and public investment on economic growth are also examined. The results obtained in this study shows that capital type public goods are important factors that determine the rate of economic growth. This is important because it clearly shows that public investment in infrastructure which has a significant positive externality can play an important role for many less developed countries to break the development traps. A most significant result of the study is related to the accumulation of human capital Endogenous growth models seem to be more realistic if we take into account that a significant input to production in modern economies is human capital Human capital has the most significant spillover effect which serves as an engine to economic growth. Therefore, government policies that creates significant incentives to human capital accumulation wM help to break the poverty barriers many less developed countries face.
