Chapter

Whatever Happened to Productivity Growth?

Edited by Dale W. Jorgenson and Eric Yip

in New Developments in Productivity Analysis

Published by University of Chicago Press

Published in print August 2001 | ISBN: 9780226360621
Published online February 2013 | e-ISBN: 9780226360645 | DOI: http://dx.doi.org/10.7208/chicago/9780226360645.003.0012
Whatever Happened to Productivity Growth?

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This chapter presents international comparisons of patterns of economic growth among the G7 countries over the period 1960–95. The chapter is organized as follows. Section 12.2 describes the methodology for allocating the sources of economic growth between investment and productivity. Section 12.3 analyzes the role of investment and productivity as sources of growth in the G7 countries over the period 1960–95. Section 12.4 tests the implication of the neoclassical theory of growth that relative levels of output and input per capita must converge over time. Section 12.5 summarizes the conclusions of the study and outlines alternative approaches to endogenous growth through broadening the concept of investment.

Keywords: economic growth; G7 countries; investment; productivity

Chapter.  12775 words.  Illustrated.

Subjects: Econometrics and Mathematical Economics

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