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.

On the Sources of the High Growth Experience in Austria

ZAGLER, MARTIN
2000-01-01

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.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11579/10213
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