n South African Journal of Economic and Management Sciences - Explaining long-term growth in Namibia : economics
|Article Title||Explaining long-term growth in Namibia : economics|
|© Publisher:||University of Pretoria|
|Journal||South African Journal of Economic and Management Sciences|
|Author||Joel Hinaunye Eita and Charlotte B. Du Toit|
|Publication Date||Mar 2009|
|Pages||48 - 62|
|Keyword(s)||C5, C51, C52, Cobb-Douglas production function, Cointegration, Economic growth, Neoclassical growth model and Supply-side|
ISI Social Science
Supply-side economics stresses the importance of analysing and modelling the long-term properties of an economy's production structures in order to investigate each factor of production's impact on final output. This helps to determine how much should be produced, how much is available for consumption and, eventually, how an economy can improve its long-term economic growth path. This study applied the neoclassical growth model to Namibia's growth over the period from 1971 to 2005 in order to identify and develop the main supply-side components of long-term economic growth in the country. Along with a production function, behavioural equations were estimated for the factors of production labour demand and capital investment, as well as for the links between prices and wages.
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