The Solow model in the empirics of growth and trade
将索洛模型应用于跨国数据,发现制度技术差异可解释稳态人均产出差异,而资本产出比作为常数,这为国际贸易实证提供了新视角。
Translated to a cross-country context, the Solow model (Solow, <cross-ref type="bib" refid="B29">1956</cross-ref>) predicts that international differences in steady-state output per person are due to international differences in technology for a constant capital–output ratio. However, most of the empirical growth literature that refers to the Solow model has employed a specification where steady-stateifferences in output per person are due to international differences in the capital–output ratio for a constant level of technology. My empirical results show that the former specification can summarize the data quite well by using a measure of institutional technology and treating the capital–output ratio as part of the regression constant. This reinterpretation of the cross-country Solow model provides an implication for empirical studies of international trade. Harrod-neutral technology differences, as presumed by the Solow model, can explain why countries have different factor intensities and may end up in different cones of specialization.