Accounting for two-club convergence

Daniel J. Henderson () and R. Robert Russell ()
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Daniel J. Henderson: Finance and Legal Studies, University of Alabama
R. Robert Russell: University of California

Journal of Productivity Analysis, 2025, vol. 63, issue 3, No 6, 269-283

Abstract: Abstract We decompose the growth of labor productivity of 91 countries into components attributable to (1) technological change (the increase in total factor productivity), (2) capital deepening (the increase in the capital-labor ratio), and (3) the accumulation of human capital. We find that (a) two-club convergence (from 1965–2015) can not be attributed to any single factor and (b) the increased dispersion of the distribution over time is attributable primarily to physical capital accumulation with some help from human capital accumulation and technological change.

Keywords: Growth accounting; Nonparametric; Total factor productivity (search for similar items in EconPapers)
JEL-codes: C69 J24 O49 (search for similar items in EconPapers)
Date: 2025
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s11123-024-00736-0

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