World Total Factor Productivity Growth and the Steady-State Rate in the 20th Century
I estimate a Solow model augmented with human capital in 42 countries for 1910-2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult.
- Autores:
-
Breton, Theodore R.
- Tipo de recurso:
- Fecha de publicación:
- 2013
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- spa
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/2596
- Acceso en línea:
- http://hdl.handle.net/10784/2596
- Palabra clave:
- Economic Growth
Solow Model
Steady State
TFP Growth
Convergence
- Rights
- License
- Acceso abierto
| Summary: | I estimate a Solow model augmented with human capital in 42 countries for 1910-2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult. |
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