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World total factor productivity growth and the steady-state rate in the 20th century

Article ID Journal Published Year Pages File Type
5059782 Economics Letters 2013 4 Pages PDF
Abstract
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.
Keywords
O47O41Solow modelTFP growthSteady stateEconomic growthConvergence
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
World total factor productivity growth and the steady-state rate in the 20th century
Authors
Theodore R. Breton,
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Journal
Economics Letters
Journal: Economics Letters
Related Categories
O47
O41
Solow model
TFP growth
Steady state
Economic growth
Convergence
Economics and Econometrics
Economics, Econometrics and Finance (General)
Finance
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