Human Capital, Saving Rate, Population, and Growth - Consistent and Robust Estimation of Speed of Convergence

Key Points

• The objective is to analyze economic growth focusing on convergence speed and addressing endogeneity issues.
• Applied dynamic panel instrumental variables using Arellano and Bond approach.
• Expanded the usage of econometric methods to solve measurement error problems.
• Implemented robust estimation techniques, including semi-parametric and non-parametric methods.
• Estimated convergence speed of 13.2% using instrumental variable approach.
• Estimated convergence speed of 19.2% with the differenced non-linear methods.
• Findings align with and support existing research on speed of convergence and endogeneity control.