EconPapers    
Economics at your fingertips  
 

Why do growth rates differ?: Evidence from cross-country data on private sector production

Juha Kilponen () and Matti Virén

No 13/2008, Research Discussion Papers from Bank of Finland

Abstract: We estimate a standard production function with a new cross-country data set on business sector production, wages and R&D investment for a selection of 14 OECD countries including the United States. The data sample covers the years 1960-2004. The data suggest that growth differences can largely be explained by capital deepening and an ability to produce new technology in the form of new patents. The importance of patents is magnified by the openness of the economy. We find some evidence of increasing elasticity of substitution over time, all though the results are sensitive to assumptions on the nature of technological progress. Keywords: growth, R&D, production function, patents JEL classification numbers: O40, E10, O43

JEL-codes: E10 O40 O43 (search for similar items in EconPapers)
Date: 2008-05-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Published in Published in Empirica, Volume 37, Number 3, July 2010, pp. 311-328

Downloads: (external link)
https://helda.helsinki.fi/bof/bitstream/123456789/7937/1/158821.pdf (application/pdf)

Related works:
Journal Article: Why do growth rates differ? Evidence from cross-country data on private sector production (2010) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bof:bofrdp:2008_013

Access Statistics for this paper

More papers in Research Discussion Papers from Bank of Finland Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland. Contact information at EDIRC.
Bibliographic data for series maintained by Minna Nyman ().

 
Page updated 2022-09-24
Handle: RePEc:bof:bofrdp:2008_013