Growth accounting and endogenous technical change.
Journal
Economics letters
ISSN
0165-1765
ISSN-Digital
1873-7374
Type
journal article
Date Issued
2016-09
Author(s)
Chu, Angus
Abstract
This study explores growth accounting under endogenous technological progress. It is well known that the Solow approach overstates (understates) the contribution of capital accumulation (technological progress) to economic growth and that the Mankiw-Romer-Weil approach addresses this issue. However, we find that the Mankiw-Romer-Weil approach is inconsistent (consistent) with the lab-equipment (knowledge-driven) specification for technological progress. We also examine the importance of capital accumulation on growth in China under the two approaches.
Language
English
HSG Classification
contribution to scientific community
HSG Profile Area
SEPS - Economic Policy
Refereed
Yes
Publisher
Elsevier
Publisher place
Amsterdam [u.a.]
Volume
146
Start page
147
End page
150
Subject(s)
Eprints ID
250662
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