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Economic growth In the long run

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  • Tamura, Robert
  • Dwyer, Gerald P.
  • Devereux, John
  • Baier, Scott

Abstract

We present new data on real output per worker, schooling per worker, human capital per worker, real physical capital per worker for 168 countries. The output data represent all available data from Maddison. The physical capital data represent all available data from Mitchell. One major contribution is a new set of human capital per worker, the foundation of which comes mostly from Mitchell. We provide original estimates of schooling per worker & per young worker. With our preferred measure of human capital, between 66 percent to 90 percent of all the variation in long run growth can be explained by variation in the growth of inputs per worker, and only 10-34 percent from variation in TFP growth! Furthermore between 66 percent and 80 percent of the variation in log levels can be explained by variation in the log input levels and only 20 percent to 34 percent is explained by variation in log TFP levels!

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  • Tamura, Robert & Dwyer, Gerald P. & Devereux, John & Baier, Scott, 2012. "Economic growth In the long run," MPRA Paper 41324, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:41324
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    16. Momota, Akira, 2009. "A population-macroeconomic growth model for currently developing countries," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 431-453, February.
    17. Lee, Jong-Wha & Lee, Hanol, 2016. "Human capital in the long run," Journal of Development Economics, Elsevier, vol. 122(C), pages 147-169.
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    More about this item

    Keywords

    economic growth; human capital; variance decomposition;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

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