Comment on 'It's Not Factor Accumulation : Stylized Facts and Growth Models,' by William Easterly and Ross Levine

• Tác giả: Pete Klenow
• Ngôn ngữ: eng
• Ký hiệu phân loại: 220.77 Commentaries with text
• Thông tin xuất bản: Washington, DC: World Bank, 2014
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 303208
• Chủ đề: 1. BLACK MARKET; 2. BLACK MARKET PREMIUM; 3. CAPITA INCOME; 4. CAPITAL INVESTMENTS; 5. COUNTRY GROWTH PERFORMANCE

Tóm tắt

William Easterly and Ross Levine document five stylized facts about growth and argue that they imply a bigger role for total factor productivity (tfp) and technology than for physical and human capital. The reader agrees with the first four of their facts and believes facts one and three provide strong support for their conclusion that tfp should be the focus of growth research.