World Productivity Growth and the Steady-State Rate in the 20th Century

Theodore Breton ()

No 11831, Documentos de Trabajo de Valor Público from Universidad EAFIT

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)
Pages: 13
Date: 2013-03-02
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Citations: View citations in EconPapers (2)

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