How have NESTs grown? Explanations based on endogenous growth theory

References

• Anh, L. H., Kreinovich, V., & Thach, N. N. (eds). (2018). Econometrics for Financial Applications. Springer. https://doi.org/10.1007/978-3-319-73150-6
   Google Scholar
• Arrow, K. J. (1962). The Economic Implications of Learning by Doing. Review of Economic Studies, 29(June), 155–22. https://doi.org/10.2307/2295952
   Web of Science ®Google Scholar
• Arrow, K. J., Chenery, H. B., Minhas, B. S., & Solow, R. M. (1961). Capital Labour Substitution and Economic Efficiency. Review of Econ. And Statistics, 63(3), 225–250. https://doi.org/10.2307/1927286
   Web of Science ®Google Scholar
• Asher, E. (1972). Industrial efficiency and biased technological change in American and British manufacturing: The case of textiles in the nineteenth century. Journal of Economic History, 32(2), 431–442. https://doi.org/10.1017/S0022050700067188
   Web of Science ®Google Scholar
• Asher, H. (1956). Cost-Quantity Relationships in the Airframe Industry, R-291, Santa-Monica: The Rand Corporation.
   Google Scholar
• Azariadis, C. (1993). Intertemporal Macroeconomics. Blackwell Publishers.
   Google Scholar
• Barro, R. J. (1991). Economic growth in a cross-section of countries. Quarterly Journal of Economics, 106(2), 407–443. https://doi.org/10.2307/2937943
   Web of Science ®Google Scholar
• Barro, R. J., & Lee, J.-W. (1994). Sources of economic growth. Carnegie-Rochester Conference Series on Public Policy, 40(1), 1-46.
   Google Scholar
• Barro, R. J., & Sala-i-martin, X. (1995). Economic Growth. McGraw Hill.
   Google Scholar
• BBVA Research (2012). Annual Report 2012 https://www.bbvaresearch.com/en/publicaciones/eagles-economic-outlook-annual-report-2012/
   Google Scholar
• BBVA Research (2016). https://www.bbvaresearch.com/en/publicaciones/eagles-economic-outlook-annual-report-2016/
   Google Scholar
• Berndt, E. (1976). Reconciling alternative estimates of the elasticity of substitution. Review of Economics and Statistics, 58(1), 59–68. https://doi.org/10.2307/1936009
   Web of Science ®Google Scholar
• Bils, M., & Klenow, P. (2000). Does schooling cause growth? American Economic Review, 90(5), 1160–1183. https://doi.org/10.1257/aer.90.5.1160
   Web of Science ®Google Scholar
• Binder, M., & Pesaran, M. H. (1999). Stochastic growth models and their econometric implications. Journal of Economic Growth, 4(2), 139–183. https://doi.org/10.1023/A:1009802421114
   Web of Science ®Google Scholar
• Blair, R., & Kraft, J. (1974). Estimation of elasticity of substitution in American manufacturing industry from pooled cross-section and time-series observations. Review of Economics and Statistics, 56(3), 343–347. https://doi.org/10.2307/1923972
   Web of Science ®Google Scholar
• Bond, S., Lebeblicioglu, A., & Schiantarelly, F. (2004). Capital accumulation and growth: a new look at the evidence, IZA Discussion Paper 1174, Bonn.
   Google Scholar
• Briggs, W. & Hung T. Nguyen. (2019). Clarifying ASA's View on P-Values in Hypothesis Testing. Asian Journal of Economics and Banking,3(2), 1–16.
   Google Scholar
• Cohen, D., & Soto, M. (2007). Growth and human capital: Good data, good results. Journal of Economic Growth, 12(1), 51–76. https://doi.org/10.1007/s10887-007-9011-5
   Web of Science ®Google Scholar
• Cronin, F. J., Colleran, E., & Gold, M. (1997). TELECOMMUNICATIONS, FACTOR SUBSTITUTION AND ECONOMIC GROWTH. Contemporary Economic Policy, 15(3), 21–31. https://doi.org/10.1111/j.1465-7287.1997.tb00474.x
   Web of Science ®Google Scholar
• Davidian, M., & Giltinan, D. M. (1995). Nonlinear models for repeated measurement data. Chapman & Hall/CRC.
   Google Scholar
• De Long, B. J., & Summers, L. H. (1991). Equipment investment and economic growth. Quarterly Journal of Economics, 106(2), 445–502. https://doi.org/10.2307/2937944
   Web of Science ®Google Scholar
• De Long, B. J., & Summers, L. H. (1992). Equipment investment and economic growth: How strong is the nexus. Brookings Papers on Economic Activity, 2(2), 157–199. https://doi.org/10.2307/2534583
   Google Scholar
• De Long, B. J., & Summers, L. H. (1994). Equipment investment and economic growth: Reply. Quarterly Journal of Economics, 109(3), 803–807. https://doi.org/10.2307/2118423
   Web of Science ®Google Scholar
• Duffy, J., & Papageorgiou, C. (2000). A cross-country empirical investigation of the aggregate production function specification. Journal of Economic Growth, 5(1), 87–120. https://doi.org/10.1023/A:1009830421147
   Web of Science ®Google Scholar
• Federal Reserve Bank of St. Louis. (2019). Penn World Table. Available online: https://fred.stlouisfed.org.
   Google Scholar
• Ferguson, C. (1965). The elasticity of substitution and the savings ratio in the neoclassical theory of growth. Quarterly Journal of Economics, 79(3), 465–471. https://doi.org/10.2307/1882709
   Web of Science ®Google Scholar
• Fisher, L. D. (1996). Comments on Bayesian and frequentist analysis and interpretation of clinical trials. Control Clinical Trials, 17(5), 423–434. https://doi.org/10.1016/S0197-2456(96)00043-8
   PubMedGoogle Scholar
• Galor, O. (1995). Convergence? Inference from theoretical models. Economic Journal, 106(437), 1056–1069. https://doi.org/10.2307/2235378
   Web of Science ®Google Scholar
• Genç, M., & Bairam, E. (1998). The box-cox transformation as a VES production function. chapter 4. In E.I. Bairam: Production and cost functions: Specification, measurement, and applications (pp. 54–61). Ashgate Press.
   Google Scholar
• Gong, G., A.,, & Semmler, W. (2004). Endogenous growth: Estimating the Romer model for the US and Germany. Oxford Bulletin of Economics and Statistics, 66(2), 147–164. https://doi.org/10.1046/j.0305-9049.2003.00082.x
   Web of Science ®Google Scholar
• Hamermesh, D. (1993). Labor Demand. Princeton University Press.
   Google Scholar
• Hsing, Y. (1996). An empirical estimation of regional production function for the U.S. manufacturing. Annals of Regional Science, 30(4), 351–358. https://doi.org/10.1007/BF01581948
   Web of Science ®Google Scholar
• Huynh, T. N. (2019). Factors affecting technical efficiency in Vietnamese small and medium enterprises. Journal of Asian Business and Economics Studies, 30(7), 43-65. accessed 11 January 2020 Available online http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=8fbfecc6-ffc8-4ab8-84b7-5ca9b1ab8c50
   Google Scholar
• Irony, T. Z., & Singpurwalla, N. D. (1997). Noninformative priors do not exist: A discussion with Jose M. Bernardo. Journal of Statistical Inference and Planning, 65(1), 159–189. https://doi.org/10.1016/S0378-3758(97)00074-8
   Web of Science ®Google Scholar
• Ithurbide, P., & Bellaiche, M. (2019). How to differentiate emerging countries? New approaches for classification and typology. Amundi Research team. 3–60. https://research-center.amundi.com/ezjscore/call/ezjscamundibuzz::sfForwardFront::paramsList=service=ProxyGedApi&routeId=_dl_NWVmN2Q5MjViMjJmOTRmYTU3NGRiMTcxNGM2ZjA5OWU
   Google Scholar
• Jalil, A., & Idrees, M. (2013). Modeling the impact of education on the economic growth: Evidence from aggregated and disaggregated time series data of Pakistan. Economic Modelling, 31(1), 383–388. https://doi.org/10.1016/j.econmod.2012.11.035
   Web of Science ®Google Scholar
• Jones, C. I. (1995a). Time series tests of endogenous growth models. Quarterly Journal of Economics, 110(2), 495–525. https://doi.org/10.2307/2118448
   Web of Science ®Google Scholar
• Jones, C. I. (1995b). R&D-based economic models of economic growth. Journal of Political Economy, 103(4), 759–784. https://doi.org/10.1086/262002
   Web of Science ®Google Scholar
• Kamien, M. I., & Schwartz, N. L. (1968). Optimal “induced” technical change. Econometrica, 36(1), 1–17. https://doi.org/10.2307/1909600
   Web of Science ®Google Scholar
• Karabarbounis, L., & Neiman, B. (2014). The global decline of the labor share. The Quarterly Journal of Economics, 129(1), 61–103. https://doi.org/10.1093/qje/qjt032
   Web of Science ®Google Scholar
• Khuc, V. Q., & Tran, Q. B. (2016). Identifying the determinants of forestry growth during the 2001–2014 period. Journal of Agriculture and Rural Development, 12, 2–9.
   Google Scholar
• Kim, J. U. (2003). Economic growth and returns to scale for reproducible factors. Applied Economics Letters, 10(14), 925–928. https://doi.org/10.1080/1350485032000159031
   Web of Science ®Google Scholar
• Klump, R., & La Grandville, O. (2000). Economic growth and the elasticity of substitution: Two theorems and some suggestions. American Economic Review, 90(1), 282–291. https://doi.org/10.1257/aer.90.1.282
   Web of Science ®Google Scholar
• Klump, R., & Preissler, H. (2000). CES production functions and economic growth. Scandinavian Journal of Economics, 102(1), 41–56. https://doi.org/10.1111/1467-9442.00183
   Web of Science ®Google Scholar
• Kreinovich, V., Thach, N. N., Trung, N. D., & Thanh, D. V. 2019. Beyond Traditional Probabilistic Methods in Economics Springer. https://doi.org/10.1007/978-3-030-04200-4.
   Google Scholar
• Krueger, A., & Lindhal, M. (2001). Education for growth: Why and for whom? Journal of Economic Literature, 39(4), 1101–1136. https://doi.org/10.1257/jel.39.4.1101
   Web of Science ®Google Scholar
• La Grandville, O. (1989). In quest of the Slutsky Diamond. American Economic Review, 79(3), 468–481.
   Web of Science ®Google Scholar
• Lagomarsino, E. (2017). A study of the approximation and estimation of CES production functions. Ph.D. thesis, Heriot-Watt University.
   Google Scholar
• Li, D. (2002). Is the AK model still alive? The long-run relation between growth and investment re-examined. Canadian Journal of Economics, 35(1), 92–114. https://doi.org/10.1111/1540-5982.00122
   Web of Science ®Google Scholar
• McFadden, D. (1978). Estimation techniques for the elasticity of substitution and other production parameters. Production Economics: A Dual Approach to Theory and Applications, 2, M. Fuss & D. McFadden (eds). North Holland. Contributions to Economic Analysis, 4(1), 73–123.
   Google Scholar
• Miller, E. (2008). An Assessment of CES and Cobb-Douglas Production Functions. Congressional Budget Office. Working Paper, https://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/94xx/doc9497/2008-05.pdf
   Google Scholar
• Mizon, G. E. (1977). Inferential procedures in nonlinear models: An application in a UK industrial cross-section study of factor substitution and returns to scale. Econometrica, 45(5), 1221–1242. https://doi.org/10.2307/1914069
   Web of Science ®Google Scholar
• Nerlove, M. (1967). Recent Empirical Studies of the CES and related production functions. NBER Chapters, In: The Theory and Empirical Analysis of Production, 55–136.
   Google Scholar
• Nguyen, H. T., & Thach, N. N. (2019). A closer look at the modeling of economics data. In V. Kreinovich, N. Thach, N. Trung, & D. Van Thanh (Eds.), Beyond traditional probabilistic methods in economics. ECONVN 2019. Studies in Computational Intelligence (Vol. 809, pp. 100–112). Springer. https://doi.org/10.1007/978-3-030-04200-4_7
   Google Scholar
• Nguyen, H. T., Sriboonchitta, S., & Thach, N. N. (2019a). On quantum probability calculus for modeling economic decisions. In V. Kreinovich & S. Sriboonchitta (Eds.), Structural changes and their econometric modeling. TES 2019. Studies in Computational Intelligence (Vol. 808, pp. 18–34). Springer. https://doi.org/10.1007/978-3-030-04263-9_2
   Google Scholar
• Nguyen, H. T., Trung, N. D., & Thach, N. N. (2019b). Beyond traditional probabilistic methods in econometrics. In V. Kreinovich, N. Thach, N. Trung, & D. Van Thanh (Eds.), Beyond traditional probabilistic methods in economics. ECONVN 2019. Studies in Computational Intelligence (Vol. 809, pp. 3–21). Springer. https://doi.org/10.1007/978-3-030-04200-4_1
   Google Scholar
• Nguyen, H. T., & Thach, N. N. (2018). A panorama of applied mathematical problems in economics. Thai Journal of Mathematics, Special Issue: Annual Meeting in Mathematics, 1–20.
   Web of Science ®Google Scholar
• Nguyen, Q. H. (2013). Sources of province Hung Yen‘s economic growth. Journal of Economic Development, 275, 28–39.
   Google Scholar
• Palivos, T., & Karagiannis, G. (2004). The elasticity of substitution in convex models of endogenous growth. Unpublished Manuscript.
   Google Scholar
• Pereira, C. M. (2003). Empirical essays on the elasticity of substitution, technical change, and economic growth. Ph.D. dissertation, North Carolina State University.
   Google Scholar
• Pham, L. T., & Phuong, T. L. (2016). Technical efficiency of Vietnamese manufacturing enterprises. Journal of Economics and Development, 229, 43–51.
   Google Scholar
• Pinheiro, J. C., & Bates, D. M. (2000). Mixed-Effects Models in S and S-PLUS. Springer.
   Google Scholar
• Pitchford, J. D. (1960). growth and the elasticity of factor substitution. Economic Record, 36(76), 491–503. https://doi.org/10.1111/j.1475-4932.1960.tb00537.x
   Google Scholar
• Rapping, L. (1965, February). Learning and World War II Production Functions. Review of Economics and Statistics, 47(1), 81–86. https://doi.org/10.2307/1924126
   Web of Science ®Google Scholar
• Roberts, G. O., & Rosenthal, J. S. (2001). Optimal scaling for various Metropolis-Hastings algorithms. Statistical Science, 16(4), 351–367. https://doi.org/10.1214/ss/1015346320
   Web of Science ®Google Scholar
• Romer, P. M. (1986, October). Increasing returns and long-run growth. Journal of Political Economy, 94(5), 1002–1037. https://doi.org/10.1086/261420
   Web of Science ®Google Scholar
• Romer, P. M. (1987). Crazy explanations for the productivity slowdown. In NBER Macroeconomics Annual. S. Fischer (eds). MIT Press.
   Google Scholar
• Romer, P. M. Endogenous Technical Change. (1990). Journal of Economic Perspective, 8(1), 3–22. Winter. https://doi.org/10.1257/jep.8.1.3
   Web of Science ®Google Scholar
• Romero-Ávila, D. (2009). Productive physical investment and growth: Testing the validity of the AK model from a panel perspective. Applied Economics, 41(23), 3027–3043. https://doi.org/10.1080/00036840701335611
   Web of Science ®Google Scholar
• Romero-Ávila, D. (2013). Is physical investment the key to China’s growth miracle? Economic Inquiry, 51(4), 1948–1971. https://doi.org/10.1111/ecin.12005
   Web of Science ®Google Scholar
• Sato, K. (1963). Growth and the elasticity of factor substitution: A comment– How plausible is imbalanced growth. Economic Record, 39(87), 355–361.
   Google Scholar
• Schmookler, J. (1966). Invention and Economic Growth. Harvard University Press.
   Google Scholar
• Searle, A. D. (1946). Productivity changes in selected wartime shipbuilding programs. Monthly Labor Review
   Web of Science ®Google Scholar
• Solow, R. M. A contribution to the theory of economic growth. (1956). Quarterly Journal of Economics, 70(1), 65–94. February. https://doi.org/10.2307/1884513
   Web of Science ®Google Scholar
• Solow, R. M. (1957). Technical Change and the aggregate production function. The Review of Economics and Statistics, 39(3), 312–320. https://doi.org/10.2307/1926047
   Web of Science ®Google Scholar
• Solow, R. M. (1997). Learning from “Learning-by-Doing”. Lessons for Economic Growth. Stanford University Press.
   Google Scholar
• Sriboonchitta, S., Nguyen, H. T., Kosheleva, O., Kreinovich, V., & Nguyen, T. N. (2019). Quantum approach explains the need for expert knowledge: On the example of econometrics. In V. Kreinovich & S. Sriboonchitta (Eds.), Structural changes and their econometric modeling. TES 2019. Studies in Computational Intelligence (Vol. 808, pp. 191–199). Springer. https://doi.org/10.1007/978-3-030-04263-9_15
   Google Scholar
• Svítek, M., Kosheleva, O., Kreinovich, V., & Nguyen, T. N. (2019). Why Quantum (Wave Probability) Models Are a Good Description of Many Non-quantum Complex Systems, and How to Go Beyond Quantum Models. In V. Kreinovich, N. Thach, N. Trung, & D. Van Thanh (Eds.), Beyond traditional probabilistic methods in economics. ECONVN 2019. Studies in Computational Intelligence (Vol. 809, pp. 168–175). Springer. https://doi.org/10.1007/978-3-030-04200-4_13
   Google Scholar
• Swan, T. W. (1956, November). Economic growth and capital accumulation. The Economic Record, 32(2), 334–361. https://doi.org/10.1111/j.1475-4932.1956.tb00434.x
   Google Scholar
• Temple, J. (1998). Equipment investment and the Solow model. Oxford Economic Papers, 50(1), 39–62. https://doi.org/10.1093/oxfordjournals.oep.a028635
   Web of Science ®Google Scholar
• Thach, N. N. (2020a). Endogenous economic growth: The Arrow-Romer theory and a test on vietnamese economy. WSEAS Transactions on Business and Economics, 17, 374–386. https://doi.org/10.37394/23207.2020.17.37
   Google Scholar
• Thach, N. N. (2020b). The variable elasticity of substitution function and endogenous growth; an empirical evidence from vietnam. International Journal of Economics and Business Administration, VIII(1), 263–277. https://doi.org/10.35808/ijeba/424
   Google Scholar
• Thach, N. N. (2020c). How to explain when the ES is lower than one? A Bayesian nonlinear mixed-effects approach. J. Risk Financial Manag, 13(2), 21. https://doi.org/10.3390/jrfm13020021
   Web of Science ®Google Scholar
• Tu, T. G., & Phuc, T. N. (2012). Using the Cobb-Douglas to analyze the impact of inputs on coffee productivity in province DakLak. Journal of Economics and Development, 8, 90–93.
   Google Scholar
• UNCTAD. (2019). Handbook of Statistics. Accessed 4 April 2020). file:///D:/data/Unctad%20handbook2019.pdf
   Google Scholar
• United Nations (2019). Human development data. http://hdr.undp.org/en/data# (Accessed 4 April 2020).
   Google Scholar
• Uselding, P. (1972). Factor Substitution and labor productivity growth in american manufacturing, 1839–1899. The Journal of Economic History, 32(3), 670–681. https://doi.org/10.1017/S0022050700077172
   Web of Science ®Google Scholar
• Valdes, B. (1999). Economic growth: theory, empirics and policy. Edward Elgar.
   Google Scholar
• Walley, P., Gurrin, L. C., & Burton, P. R. (1996). Analysis of clinical data using imprecise prior probabilities. The Statistician, 45(4), 457–486. https://doi.org/10.2307/2988546
   Google Scholar
• World Bank. (2019). World Bank National Accounts Data and OECD National Accounts Data Files. available online: https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=VN (Accessed on 10 January 2020).
   Google Scholar
• Wright, T. P. (1936). Factors affecting the cost of airplanes. Journal of the Aeronautical Sciences, 3(4), 18–122. https://doi.org/10.2514/8.155
   Google Scholar
• Yang, R. Y., & Berger, J. O. (1998). [ Unpublished manuscript]. A catalog of noninformative priors. http://www.stats.org.uk//priors/noninformative/YangBerger1998.pdf (Accessed on 18 April 2020)
   Google Scholar
• Yuhn, K.-H. (1991). Economic growth, technical change biases, and the elasticity of substitution: A test of the la Grandville hypothesis. The Review of Economics and Statistics, 73(2), 340–346. https://doi.org/10.2307/2109526
   Web of Science ®Google Scholar
• Zarembka, P. (1970). On the empirical relevance of the CES production function. Review of Economics and Statistics, 52(1), 47–53. https://doi.org/10.2307/1927596
   Web of Science ®Google Scholar