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Misallocation and productivity

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  • Diego Restuccia

    (University of Toronto)

  • Richard Rogerson

    (Princeton University)

Abstract

A large portion of differences in output per capita across countries is explained by differences in total factor productivity (TFP). In this article, we summarize a recent literature — and the articles in this special issue on misallocation and productivity — that focus on the reallocation of factors across heterogenous production units as an important source of measured TFP differences across countries. (Copyright: Elsevier)

Suggested Citation

  • Diego Restuccia & Richard Rogerson, 2013. "Misallocation and productivity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 1-10, January.
  • Handle: RePEc:red:issued:13-0
    DOI: 10.1010/j.red.2012.11.003
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    More about this item

    Keywords

    Misallocation; Productivity; Heterogeneous establishments; Distortions;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models

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