Sources of Economic Growth: An Extensive Growth Accounting Exercise

41 Pages Posted: 13 Feb 2006

Date Written: June 1999

Abstract

A growth accounting exercise is conducted for 88 countries for 1960-94 to examine the source of cross-country differences in total factor productivity (TFP) levels. Two differences distinguish this analysis from that of the related literature. First, the critical technology parameter-the share of physical capital in real output-is econometrically estimated and the usual assumption of identical technology across regions is relaxed. Second, while the few studies on the determinants of cross-country differences in TFP have focused on growth rates of real output this analysis is on levels. Recent theoretical as well as empirical arguments point to the level of TFP as the more relevant variable to explain.

Keywords: growth accounting, TFP, production function

JEL Classification: E25, 047

Suggested Citation

Senhadji, Abdelhak S., Sources of Economic Growth: An Extensive Growth Accounting Exercise (June 1999). IMF Working Paper No. 99/77, Available at SSRN: https://ssrn.com/abstract=880604

Abdelhak S. Senhadji (Contact Author)

International Monetary Fund (IMF)

700 19th Street, N.W.
Washington, DC 20431
United States

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