"Empirical Studies of Economic Growth Are Flawed Because Many of the Truly

question 35

Essay

"Empirical studies of economic growth are flawed because many of the truly important underlying determinants, such as culture and institutions, are very hard to measure." Discuss this statement paying particular attention to simple cross-section data and panel data models. Use equations whenever possible to underscore your argument.

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Definitions:

Consistent Increase

A steady and continuous rise in quantity, size, number, or extent over a period of time.

Physical Punishment

The use of physical force with the intention of causing a person to experience pain or discomfort as a penalty for unacceptable behavior or for the purpose of discipline.

Aggressive Children

Children who exhibit behaviors characterized by physical or verbal harm towards others, or a readiness to confront or engage in conflict.

Gene

A unit of heredity made up of DNA that is responsible for a specific trait or function in an organism.