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Economic growth In the long run

  • Tamura, Robert
  • Dwyer, Gerald P.
  • Devereux, John
  • Baier, Scott

We present new data on real output per worker, schooling per worker, human capital per worker, real physical capital per worker for 168 countries. The output data represent all available data from Maddison. The physical capital data represent all available data from Mitchell. One major contribution is a new set of human capital per worker, the foundation of which comes mostly from Mitchell. We provide original estimates of schooling per worker & per young worker. With our preferred measure of human capital, between 66 percent to 90 percent of all the variation in long run growth can be explained by variation in the growth of inputs per worker, and only 10-34 percent from variation in TFP growth! Furthermore between 66 percent and 80 percent of the variation in log levels can be explained by variation in the log input levels and only 20 percent to 34 percent is explained by variation in log TFP levels!

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 41324.

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Date of creation: 14 Sep 2012
Date of revision:
Handle: RePEc:pra:mprapa:41324
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  1. Douglas Gollin, 2001. "Getting Income Shares Right," Department of Economics Working Papers 2001-11, Department of Economics, Williams College.
  2. Murphy, Kevin M & Simon, Curtis & Tamura, Robert, 2008. "Fertility decline, baby boom and economic growth," MPRA Paper 7719, University Library of Munich, Germany.
  3. Oded Galor & Omer Moav & Dietrich Vollrath, 2009. "Inequality in Landownership, the Emergence of Human-Capital Promoting Institutions, and the Great Divergence," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 143-179.
  4. Oded Galor & Omer Moav, 2004. "From Physical to Human Capital Accumulation: Inequality and the Process of Development," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 1001-1026.
  5. Todd Schoellman, 2007. "The Causes and Consequences of Cross-Country Differences in Schooling Attainment," 2007 Meeting Papers 297, Society for Economic Dynamics.
  6. Kormendi, Roger C. & Meguire, Philip G., 1985. "Macroeconomic determinants of growth: Cross-country evidence," Journal of Monetary Economics, Elsevier, vol. 16(2), pages 141-163, September.
  7. Lindert,Peter H., 2004. "Growing Public," Cambridge Books, Cambridge University Press, number 9780521821759.
  8. Lars Lefgren & Matthew J. Lindquist & David Sims, 2012. "Rich Dad, Smart Dad: Decomposing the Intergenerational Transmission of Income," Journal of Political Economy, University of Chicago Press, vol. 120(2), pages 268 - 303.
  9. Chen, Been-Lon, 2003. "An inverted-U relationship between inequality and long-run growth," Economics Letters, Elsevier, vol. 78(2), pages 205-212, February.
  10. Oded Galor, 2004. "From Stagnation to Growth: Unified Growth Theory," GE, Growth, Math methods 0409003, EconWPA.
  11. Manishi Prasad & Peter Wahlqvist & Rich Shikiar & Ya-Chen Tina Shih, 2004. "A," PharmacoEconomics, Springer Healthcare | Adis, vol. 22(4), pages 225-244.
  12. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
  13. Charles I. Jones, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 495-525.
  14. Robert Tamura, 2004. "Human capital and economic development," FRB Atlanta Working Paper 2004-34, Federal Reserve Bank of Atlanta.
  15. Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-98, April.
  16. repec:oup:qjecon:v:110:y:1995:i:2:p:495-525 is not listed on IDEAS
  17. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
  18. repec:oup:qjecon:v:114:y:1999:i:1:p:83-116 is not listed on IDEAS
  19. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, vol. 90(4), pages 806-828, September.
  20. Kevin K. Tsui, 2011. "More Oil, Less Democracy: Evidence from Worldwide Crude Oil Discoveries," Economic Journal, Royal Economic Society, vol. 121(551), pages 89-115, March.
  21. Hendricks, Lutz A., 2002. "How Important is Human Capital for Development? Evidence from Immigrant Earnings," Staff General Research Papers 11409, Iowa State University, Department of Economics.
  22. Tamura, Robert, 1991. "Income Convergence in an Endogenous Growth Model," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 522-40, June.
  23. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  24. Scott L. Baier & Gerald P. Dwyer & Robert Tamura, 2006. "How Important are Capital and Total Factor Productivity for Economic Growth?," Economic Inquiry, Western Economic Association International, vol. 44(1), pages 23-49, January.
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