Technological Progress and Growth in Selected Pacific Countries
AbstractThis paper assess the sources of technological progress that determined GDP and labor productivity growth across a group of leading Pacific economies - Australia, Japan, South Korea, and the U.S. - during the period 1980-2006. We consider three alternative sources of technological progress: disembodied and factor-embodied technical change to capital and labor. The contribution to growth of each of these sources is evaluated using both traditional and equilibrium growth accounting procedures. We find that capital accumulation is the main determinant of GDP growth in Australia, Japan and the U.S., whereas the main contribution in South Korea is given by Total Factor Productivity (disembodied technology). In all the considered economies, about half of the contribution to growth of capital-embodied technical change comes from Information and Communication Technologies.
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Bibliographic InfoPaper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 12.07.
Length: 29 pages
Date of creation: Sep 2012
Date of revision:
Output Growth; Labor Productivity Growth; Investment-Specific Technical Change; Neutral Technology; Human Capital Accumulation;
Find related papers by JEL classification:
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-13 (All new papers)
- NEP-EFF-2012-10-13 (Efficiency & Productivity)
- NEP-FDG-2012-10-13 (Financial Development & Growth)
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