The growth effects of knowledge-based technological change on Taiwan's industry: A comparison of R&D and education level
In: Economic Analysis and Policy, Band 73, S. 525-545
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In: Economic Analysis and Policy, Band 73, S. 525-545
In: Scottish Journal of Political Economy, Band 66, Heft 3, S. 384-403
SSRN
In: Scottish journal of political economy: the journal of the Scottish Economic Society, Band 66, Heft 3, S. 384-403
ISSN: 1467-9485
AbstractThis paper employs Hansen's (1999) panel threshold regression model [Journal of Econometrics 39 (1999) 345–68] based on a time series dataset of 109 countries from 1960 to 2007 to investigate the threshold relationship between the change in real GDP per capita and the consumption size (consumption‐income ratio, APC). The results show that the consumption level should not exceed the 49.68% threshold of real GDP per capita for each country regardless of the income level. Also, the relationship between the change in real GDP per capita and the consumption size seems to have 'Armey curve' or 'inverted‐U shape' characteristic. In order to promote real GDP growth, our results suggest that the high‐income, low‐APC countries should encourage more consumption while the low‐income, high‐APC countries should encourage more saving.