14.10.2006.

The Role of Production Progress and Human Capital in the Economic Growth of Latvia

  • Aleksejs Meļihovs

    Aleksejs Meļihovs

    Latvijas Banka economist
  • Gundars Dāvidsons

    Gundars Dāvidsons

    Head of the Monetary Research and Forecasting Division

Working Paper 3/2006

Abstract
The paper sets a goal to assess the significance of production progress and human capital for the Latvian economy and to estimate long-term growth rates of the country's economic development. The authors made an attempt to construct a production function using non-linear modelling. In order to improve the production function model for Latvia, the authors augmented the model by human capital approximation.

Keywords: production function, non-linear modelling, human capital, total factor productivity

JEL codes: C32, E23, J24, O47

APA: Meļihovs, A., Dāvidsons, G. (2020, 20. sep.). The Role of Production Progress and Human Capital in the Economic Growth of Latvia. Taken from https://www.macroeconomics.lv/node/2618
MLA: Meļihovs, Aleksejs. Dāvidsons, Gundars. "The Role of Production Progress and Human Capital in the Economic Growth of Latvia" www.macroeconomics.lv. Tīmeklis. 20.09.2020. <https://www.macroeconomics.lv/node/2618>.
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