important differences among firms in economic competence, here represented by efficiency and investment behavior, the … . The rate of technological progress as measured by the rate of change in best-practice technology seems to be less … growth than the total amount invested. In other words, it matters less how much is invested than who does the investing, and …

decrease in productivity growth. Technical efficiency change significantly contributed to economic growth for many fast …-growing countries, even though emerging economies still lag far behind developed countries in terms of technical efficiency …