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Investment Rate vs. Relative Price of Investment

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  • Fernando del Rio

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    (Universidade de Santiago de Compostela)

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    Abstract

    In this paper I accomplish a levels account exercise across countries in order to calculate contributions from differences in the relative price of investment and the investment rate to differences in the physical capital-output ratio -and consequently in output per worker- across countries. I find that differences in the relative price of investment account for most differences in the physical capital-output ratio across countries and consequently, if capital share is broadly consistent with national income accounts data, they have a moderate importance in accounting for differences in output per worker. However, differences in the investment rate account for very little disparity in physical capital-output ration and output per worker across countries.

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    File URL: http://otega.usc.es/docs_idega/documentos_de_traballo/analise_economica/analise_economica_28.pdf
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    Bibliographic Info

    Paper provided by IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia in its series Documentos de trabajo - Analise Economica with number 0028.

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    Length: 26 pages
    Date of creation: 2003
    Date of revision:
    Handle: RePEc:edg:anecon:0028

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    Keywords: Physical capital-output ratio; output per worker; investment rate; relative price of investment;

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