Efeitos do investimento sobre o crescimento no Brasil: ampliando o teste empírico de Jones (1995)

Abstract

This paper employs an extension of the empirical test of growth models proposed by Jones (1995). In a context where the production functions allow different effects of investment in economic growth, we propose a methodology based on a non linear model with threshold effect to investigate the effects of the fixed capital investment growth in per capita income in Brazil. The results suggest that this type of investment should affect the growth of Brazil, only when the economy is growing relatively slow. In the case of rapid growth, however, fixed capital does not exert a great influence on the product growth rate in the long run.