World Total Factor Productivity Growth and the Steady-State Rate in the 20th Century

2014-06-132013-03-02https://hdl.handle.net/10784/2596I estimate a Solow model augmented with human capital in 42 countries for 1910-2000. Estimated TFP growth is 0.3%/year, and the steady-state rate for GDP/capita is 1.0%/year. Implicitly for high-income countries maintaining growth above this rate will be increasingly difficult.application/pdfspaWorld Total Factor Productivity Growth and the Steady-State Rate in the 20th Centuryinfo:eu-repo/semantics/workingPaperinfo:eu-repo/semantics/openAccessEconomic GrowthSolow ModelSteady StateTFP GrowthConvergenceAcceso abierto2014-06-13O41O47Breton, Theodore R.reponame:Repositorio Institucional Universidad EAFITinstname:Universidad EAFITrepourl:https://repository.eafit.edu.co