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Growth accounting and endogenous technical change

Angus Chu () and Guido Cozzi ()

Economics Letters, 2016, vol. 146, issue C, 147-150

Abstract: This study explores growth accounting under endogenous technological progress. It is well known that the Solow approach overstates (understates) the contribution of capital accumulation (technological progress) to economic growth and that the Mankiw-Romer-Weil approach addresses this issue. However, we find that the Mankiw-Romer-Weil approach is inconsistent (consistent) with the lab-equipment (knowledge-driven) specification for technological progress. We also examine the importance of capital accumulation on growth in China under the two approaches.

Keywords: Growth accounting; Endogenous technical change; Capital accumulation (search for similar items in EconPapers)
JEL-codes: O30 O40 (search for similar items in EconPapers)
Date: 2016
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