Sources of Economic Growth: An Extensive Growth Accounting Exercise

June 1, 1999

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Abdelhak S Senhadji. Sources of Economic Growth: An Extensive Growth Accounting Exercise, (USA: International Monetary Fund, 1999) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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.

Subject: Economic growth, Growth accounting, Human capital, Labor, Production, Production growth, Total factor productivity

Keywords: Africa, Cobb-Douglas production function, Correlation coefficient, Dummy variable, East Africa, East Asia, Growth accounting, Human capital, Increase TFP, Middle East, Production function, Production growth, South Asia, TFP, TFP level, TFP performance, TFP ranking, TFP series, Time series, Total factor productivity, WP

Publication Details

Pages:

41
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1999/077
Stock No:

WPIEA0771999
ISBN:

9781451849974
ISSN:

1018-5941

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