Modeling Total Factor Productivity (TFP) Growth with an Augmented Solow Residual Growth Model: Using Human Capital Measures in Worldwide Panel Data
Major: Business Economics
Faculty Mentor: Dr. Fang Dong
The goal of this paper is to produce a quantitative analysis of the effects of human capital on total factor productivity (TFP) growth and technology diffusion across the world using panel data. Using regression analysis, this paper attempts to show the direct effects of human capital on TFP and technology diffusion across the world, using the United States as the leader country for measuring TFP levels at current purchasing power parity. The idea for this research topic first came from looking at education and its effects on the overall economy, but eventually developed into research regarding the Solow-Swan model of growth.
4-29-2021 12:00 AM