This paper consists of two parts. In the first part we carry out a traditional growth accounting exercise for the private business sectors of the Swedish economy. We search for structural breaks during the sample period, using Chow tests, using a dynamic specification of Total Factor...

This paper utilizes the growth accounting framework to derive and analyze the relationship between the rate of growth of output and the ratio of investment to output. With plausible parametric assumptions this framework is used to examine the recent controversy in Fiji on investment and growth....

In growth and development policy investment ratio is an important policy instrument. However, there is no well defined framework to determine what should be the investment ratio for a given growth target. This paper explains the potential of Solow (1956) and Solow (1957) to explain the...

After decades of slow growth since Independence from the British Raj, Indian economy registered its own small miracle, when growth rate of GDP per capita surpassed the long term growth rate of many advanced economies. What caused this miracle? In this paper, we search for an answer in the...

Japanese and U.S. saving rates have been significantly different over the last forty years. Can a standard growth model explain this difference? The answer is yes. Our results indicate that both an infinite horizon, complete markets setup and an overlapping generations model with incomplete...

During the 1960s most of the countries of Eastern Europe experienced a visible retardation of economic growth. This paper supports the view of many Eastern as well as Western economists that the retardation was caused primarily by declining rates of growth of the total factor productivity. The...

There are large differences in gross domestic products by sectors among Latin American countries, and the majority of these differences are due to the value of industrial and service sectors. The structural reforms in countries of Latin America has broadly focused in the five major areas...

The potential growth path of the economy is at the centre of various fundamental economic questions, particularly in connection with the conduct of monetary policy and the management of public finances. It also determines the progress of living standards, so that the adverse population prospects...

Using the author’s recently constructed data set, this article measures the productivity performance of China’s 19 manufacturing industries, four mining industries, plus utilities, over the reform period 1980-2005. The approach is based on neoclassical assumptions on institutional settings...