Investment Rate vs. Relative Price of Investment

Fernando del Río

No 28, Documentos de trabajo - Analise Economica from IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia

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 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 ration 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)
Pages: 26 pages
Date: 2003
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Working Paper: Investment Rate vs Relative price of Investment (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:edg:anecon:0028

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