World Productivity Growth and the Steady-State Rate in the 20th Century

I estimate a Solow model augmented with human capital in 42 countries for 1910-2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult.

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Year of publication:	2013-03-02
Authors:	Breton, Theodore R.
Institutions:	UNIVERSIDAD EAFIT
Subject:	Economic Growth \| Solow Model \| Steady State \| TFP Growth \| Convergence

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Series:	DOCUMENTOS DE TRABAJO CIEF.
Type of publication:	Book / Working Paper
Notes:	1 pages long
Classification:	O41 - One, Two, and Multisector Growth Models ; O47 - Measurement of Economic Growth; Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010786385