Productivity Growth and Accumu-Lation as Historical Processes

W. E. G. Salter
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W. E. G. Salter: Department of the Prime Minister

Chapter Chapter 14 in Problems in Economic Development, 1965, pp 266-294 from Palgrave Macmillan

Abstract: Abstract This paper belongs as much to the field of growth-model theory as productivity analysis. My first excuse is that the objectives are similar: Productivity analysis seeks to understand the reasons for divergent rates of growth between inputs and outputs; and growth-model theory seeks to define the relationships between the rates of growth of output, labour, capital and technical knowledge. My second excuse is that the particular problem in growth-model theory that I propose to examine is how the capital stock an economy inherits from the past influences its present rate of growth. This is a question that has some relevance to the effect of different stages of industrialization on productivity — although in this paper I am concerned only with theory and have resolved to eschew all practical implications.

Keywords: Labour Force; Production Function; Capital Stock; Real Wage; Marginal Product (search for similar items in EconPapers)
Date: 1965
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-15223-0_14

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DOI: 10.1007/978-1-349-15223-0_14

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