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

Authors :
Theodore R. Breton
Source :
Economics Letters. 119:340-343
Publication Year :
2013
Publisher :
Elsevier BV, 2013.

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.

Details

ISSN :
01651765
Volume :
119
Database :
OpenAIRE
Journal :
Economics Letters
Accession number :
edsair.doi.dedup.....9174c8588a50afaf3f314a2ad0236325
Full Text :
https://doi.org/10.1016/j.econlet.2013.03.013