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Distance to Technological Frontier, Market Rigidities, Education, and Growth

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  • Philippe Aghion

    (Harvard University, École dÉconomie de Paris, Université de la Méditerranée (Greqam), Banque de France (DEMS) and Université de la Méditerranée (Defi), École dÉconomie de Paris)

  • Philippe Askenazy

    (Harvard University, École dÉconomie de Paris, Université de la Méditerranée (Greqam), Banque de France (DEMS) and Université de la Méditerranée (Defi), École dÉconomie de Paris)

  • Renaud Bourlès

    (Harvard University, École dÉconomie de Paris, Université de la Méditerranée (Greqam), Banque de France (DEMS) and Université de la Méditerranée (Defi), École dÉconomie de Paris)

  • Gilbert Cette

    (Harvard University, École dÉconomie de Paris, Université de la Méditerranée (Greqam), Banque de France (DEMS) and Université de la Méditerranée (Defi), École dÉconomie de Paris)

  • Nicolas Dromel

    (Harvard University, École dÉconomie de Paris, Université de la Méditerranée (Greqam), Banque de France (DEMS) and Université de la Méditerranée (Defi), École dÉconomie de Paris)

Abstract

We exploit panel data on 17 OECD countries for the period 1985-2003. Our main findings are the characterization of the effects of (1) the education level of the workforce and (2) rigidities in the product market and labour market on total factor productivity (TFP) growth. Close to the technological frontier these effects are highly significant and an interaction between the rigidities in the two markets is clearly visible. The strong impact of higher-education level and rigidities on TFP growth appears to reflect a direct influence and an indirect effect via the diffusion of ICTs. In the goods market, the entry barriers, market structure, and degree of vertical integration seem to have a major influence. For countries far from the technological frontier, the higher-education level of the workforce and rigidities in the product market and labour market do not necessarily have a significant impact on TFP growth.

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File URL: http://www.insee.fr/fr/ffc/docs_ffc/ES419-420b.pdf
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Bibliographic Info

Article provided by Institut National de la Statistique et des Etudes Economiques in its journal Economie et Statistique.

Volume (Year): 419-420 (2009)
Issue (Month): (August)
Pages: 11-30

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Handle: RePEc:crs:ecosta:es419-420b

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Keywords: Productivity; Growth; Regulations; Market Rigidities; Education;

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