Solow and the States: Capital Accumulation, Productivity and Economic Growth

23 Pages Posted: 4 Jul 2004

See all articles by Douglas Holtz-Eakin

Douglas Holtz-Eakin

Syracuse University; National Bureau of Economic Research (NBER)

Date Written: August 1992

Abstract

National, state, and local policy makers have increasingly focused their attention on policies toward economic growth, especially efforts to raise the rate of investment. Recent studies of economic growth have raised a debate over the role played by the investment rate in the long-run performance of the economy. Evidence from the states suggests that the effects of capital accumulation are consistent with the predictions of the neoclassical growth model. At the same time, the estimates indicate a substantial role for human capital accumulation in raising productivity, in contrast to the neoclassical focus on physical capital investment.

Suggested Citation

Holtz-Eakin, Douglas, Solow and the States: Capital Accumulation, Productivity and Economic Growth (August 1992). NBER Working Paper No. w4144. Available at SSRN: https://ssrn.com/abstract=385901

Douglas Holtz-Eakin (Contact Author)

Syracuse University ( email )

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National Bureau of Economic Research (NBER)

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