|
|
|
|
Title: |
Economic Growth of OECD Countries: Focusing on Canada |
| Author: |
Lee, Frank C. |
| Author
Affiliation: |
Industry Canada |
| Source: |
International Economic Journal, Summer 1996, v. 10, no. 2, pp. 105-119 |
|
Publication Date: |
Summer 1996 |
|
Abstract: |
This paper reinvestigates factors that are
related to economic growth based on Summers-Heston's cross-sectional and
time-series data of the 24 OECD countries over the 1950-88 period. The
paper then focuses on Canada's growth performance in the context of the
OECD countries. It is found that there is a significant negative
relationship between the initial level of income and the rate of per
capita growth. The speed of catch-up is, however, very slow meaning that
it would take a long time for a poor country to catch-up to a rich
country. This catch-up process disappears when the length of the data is
shortened to the last two decades. But the level of inflation, the ratio
of debt to GDP and the ratio of investment to GDP all consistently show
up as variables that are significantly related to growth. |
|
