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The impacts of twin deficits, technology change on the long-term economic growth in 17 developed and developing economies during 2003-2012

By Nguyen Dang Quang (VNP 23)

Supervisor: Dr. Le Van Chon

Abstract:

It seems that twin deficits are a mythic phenomenon for improving the economy and economic growth in advanced and less developed countries. Therefore, this research analyzes the impacts of twin deficits on the economic growth in 17 developing and developed economies during 2003-2012. Our empirical results reveal a one-percent increase in twin deficits will enlarge the GDP growth at 0.514% in 17 developing and developed economies during 2004-2012. Technically, if the rate total factor productivity growth would accumulate in double times 17 developing and developed economies during 2004-2012, the economic growth rate increased 136 percent.

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