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On the sources of the high growth experience in Austria

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  • Martin Zagler

Abstract

This paper attempts to investigate and empirically verify several explanations for the growth performance in Austria. Total factor productivity data for Austria are presented for the first time, adopting a growth regression method. We find that the real appreciations, supported by structural change, gross investment, union density, a low duration of unemployment, and high youth employment, exhibit a significant influence on economic growth. This validates the new capital vintage hypothesis, the hard currency policy hypothesis, the structural change hypothesis, and both the macro- and microinstitutions hypotheses, while all others fail according to this exercise. Copyright International Atlantic Economic Society 2000

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  • Martin Zagler, 2000. "On the sources of the high growth experience in Austria," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(2), pages 210-220, May.
    • Handle: RePEc:kap:iaecre:v:6:y:2000:i:2:p:210-220:10.1007/bf02296102
    DOI: 10.1007/BF02296102
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    References listed on IDEAS

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    1. Ragacs, Christian & Steinberger, Thomas & Zagler, Martin, 1998. "Growth theories and the persistence of output fluctuations. The case of Austria," Department of Economics Working Paper Series 60, WU Vienna University of Economics and Business.
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    8. Karl Pichelmann & Andreas Ulrich Schuh, 1997. "The NAIRU-Concept: A Few Remarks," OECD Economics Department Working Papers 178, OECD Publishing.
    9. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
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