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Growth accounting and endogenous technical change

Listed author(s):
  • Chu, Angus C.
  • Cozzi, Guido

This study explores growth accounting under endogenous technological progress. It is well known that the Solow approach overstates (understates) the contribution of capital accumulation (technological progress) to economic growth and that the Mankiw-Romer-Weil approach addresses this issue. However, we find that the Mankiw-Romer-Weil approach is inconsistent (consistent) with the lab-equipment (knowledge-driven) specification for technological progress. We also examine the importance of capital accumulation on growth in China under the two approaches.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165176516302671
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 146 (2016)
Issue (Month): C ()
Pages: 147-150

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Handle: RePEc:eee:ecolet:v:146:y:2016:i:c:p:147-150
DOI: 10.1016/j.econlet.2016.07.027
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Fumio Hayashi & Edward C. Prescott, 2004. "The 1990s in Japan: a lost decade," Chapters,in: The Economics of an Ageing Population, chapter 2 Edward Elgar Publishing.
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