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Investment-Specific Technical Change and Growth around the World

Roberto Samaniego () and Juliana Yu Sun ()
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Juliana Yu Sun: School of Economics, Singapore Management University

No 7-2016, Economics and Statistics Working Papers from Singapore Management University, School of Economics

Abstract: Investment-specific technical change (ISTC) contributes little to growth in most countries. This is because in many countries the investment process does not become notably more efficient over time. Still, cross-country differences in the contribution of ISTC to growth are significant. Differences in the rate of ISTC appear due to cross-country variation in the use of R&D intensive capital goods, as well as trade costs.

Keywords: Price of capital; investment-specific technical change; growth accounting; sources of growth; natural resources; trade costs. (search for similar items in EconPapers)
JEL-codes: F43 O11 O13 O16 O33 O41 O47 (search for similar items in EconPapers)
Pages: 68 pages
Date: 2016-04-28
New Economics Papers: this item is included in nep-eff, nep-gro, nep-ino and nep-sea
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