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Development Accounting and the Rise of TFP

The paper presents evidence that the contribution of differences in total factor productivity (TFP) to income differences across countries steadily increased between 1970 and 2000. We verify that our finding is neither imputable to measurement errors in input factors nor dependent on the assumption...

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Bibliographic Details
Main Author: Cherif, Reda
Other Authors: Arezki, Rabah
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2010
Series:IMF Working Papers
Subjects:
Income
Labour; Income Economics
Human Capital
Economic Development
Growth Accounting
Personal Income
Capital And Total Factor Productivity
Cost
Industrial Productivity
Production
Aggregate Labor Productivity
Unemployment
Skills
Total Factor Productivity
Aggregate Human Capital
Personal Income, Wealth, And Their Distributions
Labor
Labor Productivity
Accounting
Economic Growth
Macroeconomics
Occupational Choice
Wages
Capacity
Intergenerational Income Distribution
Employment
Capital Productivity
Production And Operations Management
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The paper presents evidence that the contribution of differences in total factor productivity (TFP) to income differences across countries steadily increased between 1970 and 2000. We verify that our finding is neither imputable to measurement errors in input factors nor dependent on the assumption of factor neutral differences in technology. We conclude that theories explaining cross-country income differences based on institutions or on forces that are constant over time, such as geography or legal origin, should be reconsidered in the light of their consistency with the rise of the explanatory power of TFP.
Physical Description:32 pages
ISBN:9781451982787

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