Gilchrist, Simon (contributor); … - 2004
finding that the peak in
labor productivity growth preceded that in capital deepening in both countries.
A second, more …
Table 2: Productivity Growth and Capital Deepening (average growth rates)
TFP K/L K/Y
Country 50-60 60-79 79-89 50-60 60 … but declining rates of labor and total-factor productivity growth,
a U-shaped response of the capital-output ratio, rising …