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Explaining growth: halving our ignorance
[Expliquer la croissance: une division par 2 de notre ignorance]

Author

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  • Antonin Bergeaud
  • Gilbert Cette
  • Rémy Lecat

Abstract

A large proportion of economic growth remains unexplained by labour and capital factors. When the quality of these factors and the diffusion of innovation are taken into account, the unexplained share is reduced by roughly half. We thus remain ignorant as to the sources of a significant share of growth. La croissance économique reste très largement inexpliquée par les seuls facteurs de production travail et capital. La prise en compte de leur qualité, ainsi que de la diffusion de l’innovation, réduit d’environ de moitié la part inexpliquée de la croissance. Notre ignorance reste donc forte concernant les sources d’une large part de la croissance.

Suggested Citation

  • Antonin Bergeaud & Gilbert Cette & Rémy Lecat, 2018. "Explaining growth: halving our ignorance [Expliquer la croissance: une division par 2 de notre ignorance]," Eco Notepad (in progress) 43, Banque de France.
    • Handle: RePEc:bfr:econot:43
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