Comment on 'It's Not Factor Accumulation : Stylized Facts and Growth Models,' by William Easterly and Ross Levine

Comment on 'It's Not Factor Accumulation : Stylized Facts and Growth Models,' by William Easterly and Ross Levine

William Easterly and Ross Levine document five stylized facts about growth and argue that they imply a bigger role for total factor productivity (tfp) and technology than for physical and human capital. The reader agrees with the first four of their facts and believes facts one and three provide strong support for their conclusion that tfp should be the focus of growth research.

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Bibliographic Details
Main Author: Klenow, Pete
Format: Journal Article biblioteca
Language:English
en_US
Published: Washington, DC: World Bank 2001-05
Subjects:BLACK MARKET, BLACK MARKET PREMIUM, CAPITA INCOME, CAPITAL INVESTMENTS, COUNTRY GROWTH PERFORMANCE, DIMINISHING RETURNS, ECONOMIC ACTIVITY, ECONOMIC RESEARCH, ECONOMIC REVIEW, EMPIRICAL RESEARCH, EXTERNALITIES, FACTOR ACCUMULATION, FOREIGN TRADE, GDP, GDP PER CAPITA, GEOGRAPHIC CONCENTRATION, GROWTH MODELS, GROWTH PERFORMANCE, GROWTH RATE, GROWTH RATES, HUMAN CAPITAL, INTERMEDIATE GOODS, LONG RUN, MACROECONOMICS, MARKET SHARE, MEASUREMENT ERROR, MONETARY ECONOMICS, NATIONAL POLICIES, PER CAPITA INCOME, POLICY CHANGES, POLICY VARIABLES, POLITICAL ECONOMY, POSITIVE COEFFICIENT, PRODUCTIVITY GROWTH, PROPERTY RIGHTS, PROTECTIONISM, PURCHASING POWER, STANDARD DEVIATION, STATE POLICIES, TECHNOLOGY FRONTIER, TFP, TOTAL FACTOR PRODUCTIVITY,
Online Access:http://documents.worldbank.org/curated/en/2001/05/17737131/comment-not-factor-accumulation-stylized-facts-growth-models-william-easterly-ross-levine-learned-decade-empirical-research-growth
https://hdl.handle.net/10986/17441
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Summary:William Easterly and Ross Levine document five stylized facts about growth and argue that they imply a bigger role for total factor productivity (tfp) and technology than for physical and human capital. The reader agrees with the first four of their facts and believes facts one and three provide strong support for their conclusion that tfp should be the focus of growth research.

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