Economic theories explain the economic growth affected by accumulation of production factors and increase in productivity and efficiency. Traditional growth theories focus on the first factor where in developing countries, and especially due to the low input of capital, serious problems arise in...

The objective of this study is to investigate the validity of the Kaldor-Verdoorn's Law in explaining the long run determinants of the labor productivity growth for the manufacturing sector of some developed economies (Western European Countries, Australia, Canada, Japan and United States). We...