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Factor Misallocation and Development

  • Diego Restuccia

The large differences in income per capita across countries are mostly explained by differences in total factor productivity (TFP). This article summarizes the evidence on the importance of resource allocation across productive units in explaining the observed differences in TFP across countries.

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File URL: http://www.economics.utoronto.ca/public/workingPapers/tecipa-502.pdf
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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-502.

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Length: Unknown pages
Date of creation: 14 Oct 2013
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-502
Contact details of provider: Postal: 150 St. George Street, Toronto, Ontario
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  1. Marcela Eslava & John Haltiwanger & Adriana Kugler & Maurice Kugler, 2012. "Online Appendix to "Trade and Market Selection: Evidence from Manufacturing Plants in Colombia"," Technical Appendices 11-69, Review of Economic Dynamics.
  2. Alain Gabler & Markus Poschke, 2013. "Experimentation by Firms, Distortions, and Aggregate Productivity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 26-38, January.
  3. Sebnem Kalemli-Ozcan & Bent E. Sorensen, 2012. "Misallocation, Property Rights, and Access to Finance: Evidence from Within and Across Africa," NBER Working Papers 18030, National Bureau of Economic Research, Inc.
  4. Loren Brandt & Trevor Tombe & Xiadong Zhu, 2012. "Online Appendix to "Factor Market Distortions Across Time, Space, and Sectors in China"," Technical Appendices 11-95, Review of Economic Dynamics.
  5. Eric W. Bond & Mario J. Crucini & Tristan Potter & Joel Rodrigue, 2012. "Misallocation and Productivity Effects of the Smoot-Hawley Tariff," NBER Working Papers 18034, National Bureau of Economic Research, Inc.
  6. Andres Erosa & Tatyana Koreshkova & Diego Restuccia, 2007. "How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality," Working Papers tecipa-280, University of Toronto, Department of Economics.
  7. Juan M. Sanchez & Cheng Wang & Jeremy Greenwood, 2011. "Quantifying the Impact of Financial Development on Economic Development," 2011 Meeting Papers 240, Society for Economic Dynamics.
  8. Loren Brandt & Trevor Tombe & Xiaodong Zhu, 2012. "Factor Market Distortions across Time, Space and Sectors in China," Working Papers 262012, Hong Kong Institute for Monetary Research.
  9. Restuccia, Diego & Yang, Dennis Tao & Zhu, Xiaodong, 2008. "Agriculture and aggregate productivity: A quantitative cross-country analysis," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 234-250, March.
  10. Yongseok Shin & Joe Kaboski & Francisco J. Buera, 2008. "Finance and Development: A Tale of Two Sectors," 2008 Meeting Papers 955, Society for Economic Dynamics.
  11. Hsieh, Chang-Tai & Klenow, Peter J., 2012. "The Life Cycle of Plants in India and Mexico," Working Papers 12-20, Center for Economic Studies, U.S. Census Bureau.
  12. Prescott, Edward C, 1998. "Needed: A Theory of Total Factor Productivity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 525-51, August.
  13. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(5), pages 915-38, October.
  14. Robert E. Lucas Jr., 1978. "On the Size Distribution of Business Firms," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 508-523, Autumn.
  15. Ranasinghe, Ashantha, 2014. "Impact of policy distortions on firm-level innovation, productivity dynamics and TFP," Journal of Economic Dynamics and Control, Elsevier, vol. 46(C), pages 114-129.
  16. 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, MIT Press, vol. 114(1), pages 83-116, February.
  17. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September.
  18. Ashantha Ranasinghe, 2012. "Property Rights, Extortion and the Misallocation of Talent," 2012 Meeting Papers 293, Society for Economic Dynamics.
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