Changes in the Effect of Capital and TFP on Output in Penn World Tables 7 and 8: Improvement or Error?
Breton, Theodore R.
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Lower ICP 2005 construction prices in developing countries increase the effect of capital on output in PWT 7.1 and 8.0 and cause negative world TFP growth during 1990-2010 in PWT 8.0. The investment data appear to be more accurate in PWT 6.3.