Determinants of economic growth with an emphasis on the wealth of nations (Intercountry study)

Given the importance of economic growth, recognizing its determinants can be an important step in accelerating development. Therefore, in this study, using cross-sectional statistics, each type of wealth of nations (intangible resources, produced capital, and natural resources) in the framework of the Cobb-Douglas function on the economic growth of ۱۱۵ countries has been studied. The results show that each type of wealth with different elasticities affects economic growth. and the highest elasticity is related to produced capital and the lowest is related to natural resources. In addition, the elasticity of produced capital and intangible resources is higher in developed countries than in underdeveloped ones.

Keywords:

Economic growth , types of wealth of nations , produced capital , intangible resources , natural resources