This paper tests whether the Solow model augmented with multiple forms of human capital can explain cross-country difference in growth and investigates the effect of health on the growth of per capita income. Following Knowles and Owen (1995), we introduce both education human capital and health human capital into the textbook Solow model and extend their cross-section analysis to a dynamic pan...

The paper proposes a new test of endogenous vs. exogenous growth theories based on the Granger-causality methodology and applies it to a panel of 20 OECD countries. The test yields divergent evidence with respect to physical and human capital. For physical capital, the test results favor Solow-type exogenous growth theory over AK-type endogenous growth models. On the other hand, the test result...

This paper tests whether the Solow model augmented with multiple forms of human capitals can explain cross-country difference in growth and investigates the effect of health on the growth of per capita income. Following Knowles and Owen (1995), we introduce both education human capital and health human capital into the textbook Solow model and extend their cross-section analysis to a dynamic pa...

This paper integrates North’s institutional framework with the notion of institutions in the augmented Solow growth model, to clarify the direct and indirect channels by which institutions influence growth. Four ways to extend the Solow model in order to incorporate a rôle for institutions are outlined; and growth regressions are reinterpreted in this light. A detailed typology of empirical ins...

Translated to a cross-country context, the Solow model (Solow, 1956) 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 cross-country growth literature that refers to the Solow model has employed a specification where steady state differences in output per person a...

The Solow condition is examined in an intertemporal model that blends the shirking and the turnover models of efficiency wages with managerial supervision. It is shown that the Solow condition does not hold when shirking and turnover costs are considered. The Solow condition can be a possible outcome when managerial productivity offsets shirking and turnover costs. JEL Classification: J50, J41,...