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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: https://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
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  1. 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.
  2. Tatyana Koreshkova & Diego Restuccia & Andres Erosa, 2007. "How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality," 2007 Meeting Papers 782, Society for Economic Dynamics.
  3. 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.
  4. Yongseok Shin & Joe Kaboski & Francisco J. Buera, 2008. "Finance and Development: A Tale of Two Sectors," 2008 Meeting Papers 955, Society for Economic Dynamics.
  5. 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.
  6. Diego Restuccia & Dennis Tao Yang & Xiaodong Zhu, 2003. "Agriculture and Aggregate Productivity: A Quantitative Cross-Country Analysis," Working Papers diegor-03-01, University of Toronto, Department of Economics.
  7. 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.
  8. Sebnem Kalemli-Ozcan & Bent E. Sørensen, 2014. "Misallocation, Property Rights, and Access to Finance: Evidence from Within and Across Africa," NBER Chapters, in: African Successes: Modernization and Development, Volume 3 National Bureau of Economic Research, Inc.
  9. Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2010. "Quantifying the Impact of Financial Development on Economic Development," Economie d'Avant Garde Research Reports 17, Economie d'Avant Garde.
  10. Chang-Tai Hsieh & Peter J. Klenow, 2014. "The Life Cycle of Plants in India and Mexico," The Quarterly Journal of Economics, Oxford University Press, vol. 129(3), pages 1035-1084.
  11. 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.
  12. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September.
  13. 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.
  14. Eric Bond & Mario Crucini & Joel Rodrigue & Tristan Potter, 2013. "Misallocation and Productivity Effects of the Smoot-Hawley Tariff," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(1), pages 120-134, January.
  15. 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.
  16. Xiaodong Zhu & Trevor Tombe & Loren Brandt, 2011. "Factor Market Distortions Across Time, Space and Sectors in China," 2011 Meeting Papers 1301, Society for Economic Dynamics.
  17. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
  18. 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.
  19. Ashantha Ranasinghe, 2012. "Property Rights, Extortion and the Misallocation of Talent," 2012 Meeting Papers 293, Society for Economic Dynamics.
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