Development Accounting
Researchers have made much progress in the past 25 years in accounting for the proximate determinants of income levels: physical capital, human capital, and Total Factor Productivity (TFP). But we still know little about why these factors vary. We argue that TFP exerts a powerful influence on output not only directly, but also indirectly, through its effect on physical and human capital accumulation. We discuss why TFP varies across countries, highlighting misallocation of inputs across firms and industries as a key determinant. (JEL E22, E23, F21, F35, O10, O40)
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Volume (Year): 2 (2010)
Issue (Month): 1 (January)
Pages: 207-23
| Handle: | RePEc:aea:aejmac:v:2:y:2010:i:1:p:207-23 |
| Note: | DOI: 10.1257/mac.2.1.207 |
| Contact details of provider: | Web page: https://www.aeaweb.org/aej-macroEmail: More information through EDIRC
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References listed on IDEAS
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.:
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This item is featured on the following reading lists or Wikipedia pages:
- Development Accounting (AEJ:MA 2010) in ReplicationWiki
- Economic Growth
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