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Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ..

  • Willem H. Buiter
  • Kenneth M. Kletzer

The paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations despite a common technology, constant returns to scale and perfect international capital mobility. Private consumption is derived from a three-period overlapping generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital good ('human capital') whose augmentation requires a non-traded current input (time spent by the young in education rather than leisure) We consider the influence on productivity growth differentials of private thrift, public debt, the taxation of capital and savings and of policy towards human capital formation.

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File URL: http://www.nber.org/papers/w3637.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3637.

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Date of creation: Feb 1991
Date of revision:
Publication status: published as Journal of Japanese and International Economics, Vol. 5, pp. 325-353 1991
Handle: RePEc:nbr:nberwo:3637
Note: ITI IFM
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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