Lowe, Matthew; Papageorgiou, Chris; Perez-Sebastian, Fidel - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2012
Why doesn’t capita flow to developing countries as predicted by the neoclassical model? Is the explanation simply that cross-country marginal productivity of capital (MPK) is equalized, and if so, why? We revisit these issues by unpacking MPK into its public and private components, since there...