Abstract

GALVIS-APONTE, Luis Armando  and  WILFRIED HAHN-DE-CASTRO, Lucas. Growth in Colombian Municipalities: The Role of Spatial Externalities, the Human Capital and Physical Capital. Soc. Econ. [online]. 2016, n.31, pp.149-174. ISSN 1657-6357.

In this paper we analyse economic growth in Colombian municipalities during the period 1993-2012. The aim is to evaluate the existence of convergence taking into account the externalities of physical and human capital. According to Mankiw Romer & Weil (1992), we estimate convergence equations that are augmented with human capital. We follow the methodology proposed by Ertur and Koch (2006, 2007), who include technological externalities in the analysis of the model which solely considers physical capital (Solow 1956), and the augmented model with human capital. The results show that when spillovers are not taken into account, there is evidence of convergence; however such evidence disappears when these effects are added to the model.

Keywords : economic growth; convergence; spatial externalities.

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