) in France, Japan, the United Kingdom and the United States in the very long run (since 1890) and in the medium run (since … productivity in the United Kingdom relative to the United States, and to a lesser extent also relative to France and Japan until … and Japan after WW2, which was however interrupted in the case of Japan during the 1990s. The contribution of capital …

growth varies considerably over time and across the four countries, and it is always less important, except in Japan, than … Japan (30%), while TFP levels are very close in France, the United Kingdom and the United States, but much lower (40%) in … Japan …

(1700-1850), the United States (1790-1850), and Japan (1880-1913) suggests that the emergence of financial instruments …