مجلة معهد العلوم الإقتصادية
Volume 9, Numéro 2, Pages 11-38
2005-12-15
Effects Of Economic Policy And Gouvernance Indicators On Grwth, The Speed Of Convergence, And Human Capital. A Cross Country Analysis.
Authors : Ali Raad .
Abstract
Using data from the world bank data base on a group of countries, we test the effects of three economic indicators and one measure of governance on per capita GDP grpwth and some of its principal determinants which are : (i) the initial level of per capita GDP, (ii) human capital, and (iii) the investment share in GDP. The four indicators used here are : (i) the ratio of government consumption expenditures to GDP, (iii) the standard deviation of inflation, (iii) tz share of exports in GDP, and(iv) government effectiveness. We find strong support for conditional convergence as reflected by the significantly negative sign of the initial per capita output. Furtheremore, the investment ratio and human capital appear to be robustly and positively linked to growth. Trade policy and governance are positively related to grpwth while the monetary policy indicator is inversely correlated with growth. These results accord well with the findings of most of the empirical work on growth. The government size indicator is however not significantly related to growth, which is not consistent with the evidence presented in many seminal emoirical papers. In addition, these indicators do not seem to alter the partial correlations between growth and its main determinants.
Keywords
Economic policy, Gouvernance, human capital
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