Growth Accounting and Endogenous Technical Change
Type
working paper
Date Issued
2016-05
Author(s)
Chu, Angus C.
;
Cozzi, Guido
Abstract
This study examines two approaches to growth accounting under endogenous technological progress. It is well known that the approach introduced by Solow (1957) may overstate the contribution of capital accumulation to economic growth and understate the contribution of technological progress. An alternative approach originated from
Mankiw, Romer andWeil (1992) addresses this issue. We �nd that the Mankiw-Romer-Weil approach is consistent with the knowledge-driven speci�cation for technological progress but is inconsistent with the lab-equipment speci�cation.
Mankiw, Romer andWeil (1992) addresses this issue. We �nd that the Mankiw-Romer-Weil approach is consistent with the knowledge-driven speci�cation for technological progress but is inconsistent with the lab-equipment speci�cation.
Language
English
HSG Classification
contribution to scientific community
Publisher place
University of St. Gallen
Pages
11
Subject(s)
Eprints ID
248516
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Name
growth accounting (EL) (1).pdf
Size
117.44 KB
Format
Adobe PDF
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