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factor misallocation and development

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  • Diego Restuccia

Abstract

The large differences in income per capita across countries are mostly explained by differences in total factor productivity (TFP). This article summarises the evidence on the importance of resource allocation across productive units in explaining the observed differences in TFP across countries.

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Bibliographic Info

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This chapter was published in: Steven N. Durlauf & Lawrence E. Blume (ed.) , , chapter 1, pages , 2013,4th quarter update.

This item is provided by Palgrave Macmillan in its series The New Palgrave Dictionary of Economics with number v:7:year:2013:doi:3908.

Handle: RePEc:pal:dofeco:v:7:year:2013:doi:3908

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Keywords: distortions; heterogeneous establishments; misallocation; productivity;

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References

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  1. Andres Erosa & Tatyana Koreshkova & Diego Restuccia, 2007. "How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality," Working Papers tecipa-280, University of Toronto, Department of Economics.
  2. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
  3. Loren Brandt & Trevor Tombe & Xiadong Zhu, 2013. "Factor Market Distortions Across Time, Space, and Sectors in China," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 39-58, January.
  4. Alain Gabler & Markus Poschke, 2013. "Experimentation by Firms, Distortions, and Aggregate Productivity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 26-38, January.
  5. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(5), pages 915-38, October.
  6. Eric W. Bond & Mario J. Crucini & Tristan Potter & Joel Rodrigue, 2012. "Misallocation and Productivity Effects of the Smoot-Hawley Tariff," NBER Working Papers 18034, National Bureau of Economic Research, Inc.
  7. Kalemli-Ozcan, Sebnem & Sørensen, Bent E, 2014. "Misallocation, Property Rights, and Access to Finance: Evidence from Within and Across Africa," CEPR Discussion Papers 9859, C.E.P.R. Discussion Papers.
  8. Edward C. Prescott, 1997. "Needed: a theory of total factor productivity," Staff Report 242, Federal Reserve Bank of Minneapolis.
  9. Chang-Tai Hsieh & Peter J. Klenow, 2012. "The Life Cycle of Plants in India and Mexico," NBER Working Papers 18133, National Bureau of Economic Research, Inc.
  10. Ashantha Ranasinghe, 2012. "Property Rights, Extortion and the Misallocation of Talent," 2012 Meeting Papers 293, Society for Economic Dynamics.
  11. Diego Restuccia & Dennis Tao Yang & Xiaodong Zhu, 2007. "Agriculture and Aggregate Productivity: A Quantitative Cross-Country Analysis," Working Papers e07-3, Virginia Polytechnic Institute and State University, Department of Economics.
  12. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September.
  13. Francisco J. Buera & Joseph Kaboski & Yongseok Shin, 2009. "Finance and Development: A Tale of Two Sectors," NBER Working Papers 14914, National Bureau of Economic Research, Inc.
  14. Marcela Eslava & John Haltiwanger & Adriana Kugler & Maurice Kugler, 2013. "Trade and Market Selection: Evidence from Manufacturing Plants in Colombia," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 135-158, January.
  15. Robert E. Lucas Jr., 1978. "On the Size Distribution of Business Firms," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 508-523, Autumn.
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