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Katarina R. I. Keller and Panu Poutvaara
''Growth in OECD countries and elsewhere: how much do education and R&D explain?''
( 2005, Vol. 15 No.16 )
We find that the Nonneman and Vanhoudt (1996) extension to include R&D in the Mankiw, Romer and Weil (1992) growth model with human capital performs well also outside of OECD countries. It explains 61 to 86 percent of cross-country variation in income and growth over 40 years, explanatory variables being of expected sign for all country groups and significant in most cases. We test for the role of adding control variables and excluding outliers.
Keywords: augmented Solow model
I2 - Education: General
Manuscript Received : May 18 2005 Manuscript Accepted : May 23 2005

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