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 thei...

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Bibliographic Details
Main Author: Klenow, Pete
Format: Journal Article
Language:English
en_US
Published: Washington, DC: World Bank 2014
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
http://hdl.handle.net/10986/17441
Description
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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