Sources of Economic Growth: An Extensive Growth Accounting Exercise

Abdelhak Senhadji

No 1999/077, IMF Working Papers from International Monetary Fund

Abstract: A growth accounting exercise is conducted for 88 countries for 1960-94 to examine the source of cross-country differences in total factor productivity (TFP) levels. Two differences distinguish this analysis from that of the related literature. First, the critical technology parameter—the share of physical capital in real output—is econometrically estimated and the usual assumption of identical technology across regions is relaxed. Second, while the few studies on the determinants of cross-country differences in TFP have focused on growth rates of real output this analysis is on levels. Recent theoretical as well as empirical arguments point to the level of TFP as the more relevant variable to explain.

Keywords: WP; dummy variable; correlation coefficient; TFP level; time series; growth accounting; TFP; production function; Cobb-Douglas production function; TFP series; TFP performance; TFP ranking; increase TFP; Total factor productivity; Human capital; Production growth; East Asia; Africa; South Asia; Middle East; East Africa (search for similar items in EconPapers)
Pages: 41
Date: 1999-06-01
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Citations: View citations in EconPapers (39)

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