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economic growth into capital-deepening and productivity components, to a more complex account of the growth process. In the … more complex account, capital and productivity interact, both are endogenous, and quality change in inputs and output … matters. New developments in micro-level productivity analysis are also reviewed, and the long-standing question of net versus …
Persistent link: https://www.econbiz.de/10014025148
Schumpeterian growth theory has operationalized Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process that could not be properly addressed by alternative theories. In this survey, we focus on...
Persistent link: https://www.econbiz.de/10014025596
We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis....
Persistent link: https://www.econbiz.de/10014024246
Persistent link: https://www.econbiz.de/10012219593
We augment Henderson, Storeygard, and Weil (2012)'s two-signal model of true income growth with a third signal to overcome its underidentification problem. The additional moment conditions from the third signal help fully identify all model parameters without ad-hoc calibrations of the GDP's...
Persistent link: https://www.econbiz.de/10014322903
; Distance to Frontier ; Inappropriate Technologies ; Skill-biased Technical Change ; Productivity ; TFP differences …
Persistent link: https://www.econbiz.de/10009739171
that changes affecting agriculture have large aggregate effects. Thus, it seems reasonable that agricultural productivity …. In fact, agriculture in most developing countries has very low productivity relative to the rest of the economy …. Expanding a low-productivity sector might not be unambiguously good for growth. Moreover, there are issues of reverse causation …
Persistent link: https://www.econbiz.de/10014024046
productivity (MFP) convergence in a panel of 42 countries. The OECD long-term growth model is augmented to show that, in addition …
Persistent link: https://www.econbiz.de/10010465017
This chapter reviews the literature that tries to explain the disparity and variation of GDP per worker and GDP per capita across countries and across time. There are many potential explanations for the different patterns of development across countries, including differences in luck, raw...
Persistent link: https://www.econbiz.de/10014024240
Persistent link: https://www.econbiz.de/10014560389