World total factor productivity growth and the steady-state rate in the 20th century

Theodore Breton ()

Economics Letters, 2013, vol. 119, issue 3, 340-343

Abstract: I estimate a Solow model augmented with human capital in 42 countries for 1910–2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult.

Keywords: Economic growth; Solow model; Steady state; TFP growth; Convergence (search for similar items in EconPapers)
JEL-codes: O41 O47 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Working Paper: World Total Factor Productivity Growth and the Steady-State Rate in the 20th Century (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:119:y:2013:i:3:p:340-343

DOI: 10.1016/j.econlet.2013.03.013

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