Total Factor Productivity Growth and the Role of Externalities
- 1 October 1997
- journal article
- research article
- Published by Cambridge University Press (CUP) in National Institute Economic Review
- Vol. 162, 99-111
- https://doi.org/10.1177/002795019716200108
Abstract
This paper argues that the greater part of economic growth can be accounted for by the accumulation of human and physical capital. The role of externalities is relatively small. This view is defended by reviewing the most sophisticated growth accounting studies and also by presenting some new evidence on the growth of total factor productivity in 53 countries over the period 1965 to 1990.Keywords
This publication has 40 references indexed in Scilit:
- Twin Peaks: Growth and Convergence in Models of Distribution DynamicsThe Economic Journal, 1996
- The Classical Approach to Convergence AnalysisThe Economic Journal, 1996
- 'Post-neoclassical endogenous growth theory': what are its policy implications?Oxford Review of Economic Policy, 1996
- Interpreting tests of the convergence hypothesisJournal of Econometrics, 1996
- Economic Growth in East Asia: Accumulation versus AssimilationBrookings Papers on Economic Activity, 1996
- Endogenous Innovation in the Theory of GrowthJournal of Economic Perspectives, 1994
- Endogenous Growth Theory: Intellectual Appeal and Empirical ShortcomingsJournal of Economic Perspectives, 1994
- Perspectives on Growth TheoryJournal of Economic Perspectives, 1994
- The Origins of Endogenous GrowthJournal of Economic Perspectives, 1994
- The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988The Quarterly Journal of Economics, 1991