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Engines of growth in the US economy

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  • ten Raa, Thijs
  • Wolff, Edward N.

Abstract

There is good reason to believe that R&D influences on TFP growth in other sectors are indirect.For R&D to spill over, it must first be successful in the home sector.Indeed, observed spillovers conform better to TFP growth than to R&D in the upstream sectors.Sectoral TFP growth rates are thus interrelated.Solving the intersectoral TFP equation resolves overall TFP growth into sources of growth.The solution essentially eliminates the spillovers and amounts to a novel decomposition of TFP growth.The top 10 sectors are designated engines of growt led by computers and office machinery.The results are contrasted to the standard, Domar decomposition of TFP growth.

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Bibliographic Info

Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

Volume (Year): 11 (2000)
Issue (Month): 4 (December)
Pages: 473-489

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Handle: RePEc:eee:streco:v:11:y:2000:i:4:p:473-489

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Web page: http://www.elsevier.com/locate/inca/525148

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