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Development Accounting and the Rise of TFP
Author:
Reda Cherif
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and
Mr. Rabah Arezki
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Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 101
Language:
English
Publication Date:
01 Apr 2010
DOI:
https://doi.org/10.5089/9781451982787.001
ISBN:
9781451982787
ISSN:
1018-5941
Pages:
32
Keywords:
WP; physical capital
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper presents evidence that the contribution of differences in total factor productivity (TFP) to income differences across countries steadily increased between 1970 and 2000. We verify that our finding is neither imputable to measurement errors in input factors nor dependent on the assumption of factor neutral differences in technology. We conclude that theories explaining cross-country income differences based on institutions or on forces that are constant over time, such as geography or legal origin, should be reconsidered in the light of their consistency with the rise of the explanatory power of TFP.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2010: Issue 101