Economic growth revisited : identifying a class of growth models for the New Zealand economy : a thesis presented in partial fulfilment of the requirements for the degree of Master of Applied Economics at Massey University

Abstract

Using data on twenty industries that comprise the market sector of the New Zealand economy, this thesis sets out to indirectly test three classes of economic growth models for the New Zealand economy. This is achieved by investigating the empirical relationships between TFP growth, output and input price growth, and factor intensities; and then comparing these empirical relationships against the predictions of five growth models. On the basis of this comparison some evidence is found to support the hypothesis that the rival human capital class of endogenous growth models is the most appropriate for the New Zealand economy.