Investment Rate vs Relative price of Investment

Fernando del Río

No 2004010, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: In this paper I accomplish a levels account exercise across countries in order to calculate contributions from differences in the relative price of investment and the investment rate to differences in the physical capital-output ratio -and consequently in output per worker- across countries. I find that differences in the relative price of investment account for most differences in the physical capital-output ratio across countries and, consequently, if capital share on income is broadly consistent with national income accounts data, they have a moderate importance in accounting for differences in output per worker. However, differences in the investment rate account for very little disparity in physical capital-output ratio and output per worker across countries

Keywords: Physical capital-output ratio; Output per worker; Investment rate; Relative price of investment (search for similar items in EconPapers)
JEL-codes: E23 O47 (search for similar items in EconPapers)
Date: 2004-04-01
New Economics Papers: this item is included in nep-mac
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http://sites.uclouvain.be/econ/DP/IRES/2004-10.pdf (application/pdf)

Related works:
Working Paper: Investment Rate vs. Relative Price of Investment (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2004010

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