Estimates of the Long‐Run Growth Rate of Australia. Issue 1 (8th April 2013)

• Record Type: Journal Article
• Authors: Shankar, Sriram; Bhaskara Rao, B.
• Is Part Of: Economic papers. Volume 32:Issue 1(2013:Mar.)
• Page Start: 95
• Page End: 98
• Publication Date: 2013-04-08
• Subjects: Economics -- Periodicals; Australia -- Economic conditions -- Periodicals; 330.05
• DOI: 10.1111/1759-3441.12014
• Languages: English
• ISSNs: 0812-0439

Abstract

<abstract abstract-type="main" xml:lang="en" id="ecpa12014-abs-0001"> <title> <x xml:space="preserve">Abstract</x> </title> <p>This short note estimates using the Kmenta's (1967) approximation, a constant elasticity of substitution (CES) production function for Australia for 1960–2004. It is found that the elasticity of substitution is 2.44, technical progress is capital augmenting and the steady‐state growth rate (SSGR) of Australia is about 0.34%.</p> </abstract>