Capital accumulation and growth: a new look at the empirical evidence
利用75个国家1960-2000年的年度数据，发现投资占GDP比重与人均GDP长期增长率正相关，该结果在非OECD国家中稳健，但在OECD国家中不显著。
Abstract Using annual data for 75 countries in the period 1960–2000, we present evidence of a positive relationship between investment as a share of gross domestic product (GDP) and the long‐run growth rate of GDP per worker. This result is robust for our full sample and for the subsample of non‐OECD countries, but not for the subsample of OECD countries. Our analysis controls for time‐invariant country‐specific heterogeneity in growth rates, and for a range of time‐varying control variables. We also address endogeneity issues, and allow for heterogeneity across countries in model parameters and for cross‐section dependence. Copyright © 2010 John Wiley & Sons, Ltd.