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Second thoughts on development accounting

Erich Gundlach (), Desmond Rudman and Ludger Wößmann
Authors registered in the RePEc Author Service: Ludger Woessmann ()

Munich Reprints in Economics from University of Munich, Department of Economics

Abstract: The relative roles of factor inputs and productivity are estimated in explaining the level of economic development. For a large sample of countries, it is shown that international differences in factor inputs account for between two thirds and three quarters of international differences in output per worker if alternative identifying productivity assumptions and a quality-adjusted measure of human capital are employed. For a sample of OECD countries, it is found that all differences in output per worker can be attributed to differences in factor inputs, leaving no role for international productivity differences. This result supports the reasoning of a traditional neoclassical growth model.

Date: 2002
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Published in Applied Economics 11 34(2002): pp. 1359-1369

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