Instytucjonalne determinanty wzrostu gospodarczego

Abstract

The Solow growth model is still starting point for most of analyses on long-run economic growth. It assumes the key role of the physical capital and technological progress. In its extended version by Mankiw-Romer-Weil, human capital variable has been added and found to be as important as physical capital in explaining international differences in GDP per capita. The critics of MRW’s model attacked the validity of the model and the data. We present briefly this criticism and its implications for studying institutional determinants of economic growth. The estimations of our Barro type panel regression of economic growth are presented and discussed. The paper concludes with suggestions on methodology for further researches.