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Misallocation, Economic Growth, and Input-Output Economics

  • Charles I. Jones

One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor productivity at the macro level. Quantifying these effects is leading growth researchers in new directions, two examples being the extensive use of firm-level data and the exploration of input-output tables, and promises to yield new insights on why some countries are so much richer than others.

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File URL: http://www.nber.org/papers/w16742.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16742.

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Date of creation: Jan 2011
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Publication status: published as "Misallocation, Input-Output Economics, and Economic Growth" in D. Acemoglu, M. Arellano, and E. Dekel, Advances in Economics and Econometrics, Tenth World Congress, Volume II, Cambridge University Press, 2013.
Handle: RePEc:nbr:nberwo:16742
Note: EFG PR
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