El crecimiento económico internacional en la segunda mitad del siglo XX: ¿qué factores lo determinaron?

Abstract

"This paper presents a model of economic growth and the results of its econometric estimation. Between its variables we included the demographic ones and several related to physical and human capital accumulation. The empirical exercise was based on a "dynamic panel" (approximately four decades -1960-2000- and three samples of countries) with the purpose of appreciating the robustness of the results. The first sample had 59 individuals, both rich and poor economies, and, the other two, differentiating between rich and poor countries. The econometric results with the total sample seem dominated by those of the sample of poor countries, that is to say: only the rate of investment in physical capital was significant factor in the economic growth pace determination. In the case of the rich countries, in addition to the investment in physical capital, also was important, an exogenous technical change as one of their engines of growth. "