Peter J. Klenow and Andres Rodriguez-Clare (1997): The Ne...

Peter J. Klenow and Andres Rodriguez-Clare (1997): The Neoclassical Revival in Growth Economics: Has It Gone too Far? https://delong.typepad.com/klenow-rodriguez-clare.pdf: "We find a very modest role for growth in human capital per worker in explaining growth.... We find that TFP growth accounts for most of the growth of output per worker in Hong Kong, South Korea, and Taiwan. And we stress that this relative importance of TFP growth for three of the four Asian tigers generalizes to our sample of 98 countries: we find that roughly 90% of country differences in Y/L growth are attributable to differences in A growth. Combining these growth results with our findings on levels, we call for returning productivity differences to the center of theorizing about international differences in output per worker...

#noted #2019-12-16