Sources of Economic Growth: An Extensive Growth Accounting Exercise
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
A growth accounting exercise is conducted for 88 countries for 1960-94 to examine the source of cross-country differences in total factor productivity (TFP) levels. Two differences distinguish this analysis from that of the related literature. First, the critical technology parameter—the share of physical capital in real output—is econometrically estimated and the usual assumption of identical technology across regions is relaxed. Second, while the few studies on the determinants of cross-country differences in TFP have focused on growth rates of real output this analysis is on levels. Recent theoretical as well as empirical arguments point to the level of TFP as the more relevant variable to explain.
Series:
Working Paper No. 1999/077
Subject:
Economic growth Growth accounting Human capital Labor Production Production growth Total factor productivity
English
Publication Date:
June 1, 1999
ISBN/ISSN:
9781451849974/1018-5941
Stock No:
WPIEA0771999
Pages:
41
Please address any questions about this title to publications@imf.org