The Conditional Convergence in TFP Levels. On the Relationship between TFP, Processes of Accumulation and Institutions

Vito Pipitone and Luciano Seta

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: In this paper, we discuss the relationship between productivity, accumulation and institutions. We start from the idea that accumulation and productivity are connected by complex non-linear relations, which are amplified or attenuated by the system of rules that affects trade, decisions and preferences of economic actors. In order to show these connections, we have built a specific model that helps us shed some light on the ties involving this multi-dimensional relationship, which goes from institutions to the stock of physical and human capital and from this latter to productivity. On these ground, we propose a circular relationship between the existing literature on "barriers" and on "appropriability".

Keywords: Growth; Total Factor Productivity; Accumulation Processes; Institutions (search for similar items in EconPapers)
JEL-codes: E02 O43 O47 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2012
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