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Accounting for two-club convergence

Author

Listed:
  • Daniel J. Henderson

    (Finance and Legal Studies, University of Alabama)

  • R. Robert Russell

    (University of California)

Abstract

We decompose the growth of labor productivity of 91 countries into components attributable to (1) technological change (the increase in total factor productivity), (2) capital deepening (the increase in the capital-labor ratio), and (3) the accumulation of human capital. We find that (a) two-club convergence (from 1965–2015) can not be attributed to any single factor and (b) the increased dispersion of the distribution over time is attributable primarily to physical capital accumulation with some help from human capital accumulation and technological change.

Suggested Citation

  • Daniel J. Henderson & R. Robert Russell, 2025. "Accounting for two-club convergence," Journal of Productivity Analysis, Springer, vol. 63(3), pages 269-283, June.
    • Handle: RePEc:kap:jproda:v:63:y:2025:i:3:d:10.1007_s11123-024-00736-0
    DOI: 10.1007/s11123-024-00736-0
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    More about this item

    Keywords

    Growth accounting; Nonparametric; Total factor productivity;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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