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Productivity Growth and Accumu-Lation as Historical Processes

In: Problems in Economic Development

Author

Listed:
  • W. E. G. Salter

    (Department of the Prime Minister)

Abstract

This paper belongs as much to the field of growth-model theory as productivity analysis. My first excuse is that the objectives are similar: Productivity analysis seeks to understand the reasons for divergent rates of growth between inputs and outputs; and growth-model theory seeks to define the relationships between the rates of growth of output, labour, capital and technical knowledge. My second excuse is that the particular problem in growth-model theory that I propose to examine is how the capital stock an economy inherits from the past influences its present rate of growth. This is a question that has some relevance to the effect of different stages of industrialization on productivity — although in this paper I am concerned only with theory and have resolved to eschew all practical implications.

Suggested Citation

  • W. E. G. Salter, 1965. "Productivity Growth and Accumu-Lation as Historical Processes," International Economic Association Series, in: E. A. G. Robinson (ed.), Problems in Economic Development, chapter 0, pages 266-294, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15223-0_14
    DOI: 10.1007/978-1-349-15223-0_14
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