importance of this omission, we add capital to the standard sources-of-growth framework used by the BLS, and find that the … inclusion of our list of intangible assets makes a significant difference in the observed patterns of U.S. economic growth. The … becomes the unambiguously dominant source of growth in labor productivity. The role of multifactor productivity is …

This paper shows that those low and middle income countries that use infrastructure inefficiently pay a growth penalty … growth experience of Africa is compared with that of East Asia: over one-quarter of the differential growth rate between … and low growth rate economies. Here, more than forty percent of the growth differential is due to the efficiency effect …

endogenous growth with Ramp;D externalities implies a larger value. Finally, the appropriate investment-good price deflator is …

We extend the conventional neoclassical production and growth framework, with its emphasis on total factor productivity … standards, as measured by EGDP, can rise at a faster rate than real GDP growth, which may shed light on the question of how the …

The neoclassical growth accounting model used by the BLS to sort out the contributions of the various sources of growth … information technology and the emergence of the “knowledge economy”, or with the increase in educational attainment and the growth … than the neoclassical production function, as the technology underlying economic growth. An important feature of this …

improvements in income per capita. Two general explanations have been offered to account for the observed patterns of growth. One … different models of the growth process and different assumptions about the underlying data. Although different models of growth …

across time and across the world. Growth accounting is the principal quantitative tool for understanding this phenomenon, and … for assessing the prospects for further increases in living standards. This paper sets out the general growth accounting … economic growth into capital-deepening and productivity components, to a more complex account of the growth process. In the …

A great deal of research has been devoted to the effects of technical change on economic growth. Less attention has … been given to the factors driving the growth of the technological innovators themselves. This paper examines the case of … one of the central contributors to the IT revolution, the Microsoft Corporation. The company's sources of growth are …

- has occurred in many of the most advanced world economies and has been found to be an important source of economic growth … no general assessment of its role in China's rapid economic growth. This paper seeks to fill this gap by estimating how … China's recent growth is then assessed using a growth accounting framework, and the results compared to similar findings for …

We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and … output growth. Past studies have compared the TFP residual to the growth rate of output and used this ratio as a measure of … the importance of TFP as a source of growth. We argue that this is an erroneous way of assessing the role of TFP, because …