EMPIRICAL-EVIDENCE FOR ALTERNATIVE GROWTH-MODELS - TIME-SERIES RESULTS

Recent attempts to discriminate between alternative models of economic growth have lcd to a full circle of results by focussing on cross-sec tion data. In this paper, the author shows that the time series eviden ce is inconclusive as well, depending on the specification of the test equation with respect to its functional form and its dynamic modellin g, and on the estimation technique used. Hence, given the data at hand , attempts to devise explicit tests of alternative growth models seem to lead to dead ends.