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Knowledge, Technology and Economic Growth: Recent Evidence from OECD Countries

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Author Info
Andrea Bassanini
Stefano Scarpetta
Ignazio Visco ()

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Abstract

In this paper we present an international comparison of growth trends in the OECD countries, with a special attention to developments in labour productivity - allowing for human capital accumulation – and multifactor productivity (MFP) - allowing for changes in the composition of fixed capital. An attempt is also made to identify both the embodied (in particular in ICT equipment) and disembodied components of technical progress. The possible relation between improvements in MFP and the accumulation of knowledge (as proxied by R&D expenditures) is discussed, and some tentative policy considerations are advanced, mainly with reference to general framework conditions that might have a bearing in fostering technological changes.

The main conclusions are that some “traditional” factors lay behind the disparities in growth patterns across the OECD countries. In particular, they refer to the ability of countries to employ their labour force. There also seem to be some new factors behind ...


Dans cette étude nous présentons une comparaison internationale des performances en matière de croissance dans les pays de l’OCDE. Une attention est tout particulièrement donnée à la productivité du travail, en tenant compte de l’accroissement du capital humain, et à la productivité multifactorielle (PMF), en tenant compte des changements dans la composition et la qualité du capital physique. L’étude essaye d’identifier la part du progrès technique qui est incorporée dans le capital physique et la part qui ne l’est pas. Le lien potentiel entre les améliorations de la productivité multifactorielle et l’accumulation des connaissances (mesurée de manière approchée par les dépenses en R-D) est aussi examiné, et certaines considérations d’ordre politique sont proposées, concernant surtout les conditions cadre générales qui peuvent améliorer le progrès technique.

L’étude suggère que des facteurs traditionels sont à l’origine des disparités entre les taux de croissance des pays de l’OCDE. En ...

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Paper provided by OECD Economics Department in its series OECD Economics Department Working Papers with number 259.

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Date of creation: 13 Oct 2000
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Handle: RePEc:oec:ecoaaa:259-en

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Keywords: economic growth productivity croissance économique productivité investment investissement general purpose technologies technologie à utilisation générique

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Find related papers by JEL classification:
N10 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - General, International, or Comparative
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ignazio Visco, 2000. "Perspectives on OECD economic integration : implications for U.S. current account adjustment : commentary," Proceedings, Federal Reserve Bank of Kansas City, pages 209-231. [Downloadable!]
  2. Nicholas Oulton, . "ICT and productivity growth in the United Kingdom," Bank of England working papers 140, Bank of England. [Downloadable!]
    Other versions:
  3. Mika Maliranta, 2001. "Productivity Growth and Micro-level Restructuring. Finnish experiences during the turbulent decades," Discussion Papers 757, The Research Institute of the Finnish Economy. [Downloadable!]
  4. Robert Boyer, 2006. "Employment and decent work in the era of flexicurity," PSE Working Papers 2006-21, PSE (Ecole normale supérieure). [Downloadable!]
  5. Yi-Ping Tseng & Mark Wooden, 2001. "Enterprise Bargaining and Productivity: Evidence from the Business Longitudinal Survey," Melbourne Institute Working Paper Series wp2001n08, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
  6. Matteo Bugamelli & Patrizio Pagano & Francesco Paternò & Alberto Franco Pozzolo & Fabiano Schivardi & Salvatore Rossi, 2001. "Ingredients for the New Economy: How Much does finance matter?," Temi di discussione (Economic working papers) 418, Bank of Italy, Economic Research Department. [Downloadable!]
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  7. Boyer, Robert, 2001. "La "nouvelle économie" au futur antérieur : histoire, théories, géographie," CEPREMAP Working Papers (Couverture Orange) 0113, CEPREMAP. [Downloadable!]
  8. Luigi Bonatti, 2003. "'Soft' growth and the role of monetary policy in selecting the long-run equilibrium path," Working Papers 0306, University of Bergamo, Department of Economics. [Downloadable!]
  9. Mark Weisbrot & Dean Baker & David Rosnick, 2006. "The Scorecard on Development: 25 Years of Diminished Progress," Working Papers 32, United Nations, Department of Economics and Social Affairs. [Downloadable!]
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  12. Franz R. Hahn, 2004. "Finance-Growth Nexus and the P-Bias. Evidence from OECD Countries," WIFO Working Papers 223, WIFO. [Downloadable!]
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  13. Argandoña, Antonio, 2001. "Nueva economía y el crecimiento económico, La," IESE Research Papers D/437, IESE Business School. [Downloadable!]
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  16. Alessandra Colecchia & Paul Schreyer, 2002. "ICT Investment and Economic Growth in the 1990s: Is the United States a Unique Case? A Comparative Study of Nine OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 408-442, April. [Downloadable!] (restricted)
  17. Franz R. Hahn, 2002. "The Finance-Growth Nexus Revisited. New Evidence from OECD Countries," WIFO Working Papers 176, WIFO. [Downloadable!]
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