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The Conditional Convergence in TFP Levels. On the Relationship between TFP, Processes of Accumulation and Institutions

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  • Vito Pipitone
  • Luciano Seta

Abstract

In this paper, we discuss the relationship between productivity, accumulation and institutions. We start from the idea that accumulation and productivity are connected by complex non-linear relations, which are amplified or attenuated by the system of rules that affects trade, decisions and preferences of economic actors. In order to show these connections, we have built a specific model that helps us shed some light on the ties involving this multi-dimensional relationship, which goes from institutions to the stock of physical and human capital and from this latter to productivity. On these ground, we propose a circular relationship between the existing literature on "barriers" and on "appropriability".

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Bibliographic Info

Paper provided by Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa in its series Working Papers - Economics with number wp2012_09.rdf.

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Length: 30 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:frz:wpaper:wp2012_09.rdf

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Keywords: Growth; Total Factor Productivity; Accumulation Processes; Institutions;

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