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Title:Productivity convergence and economic growth: A frontier production function approach PDF Logo
Authors:Cornwell, Christopher Mark
Wächter, Jens-Uwe
Issue Date:1999
Series/Report no.:ZEI working paper B 06-1999
Abstract:The empirical growth literature has focused on capital accumulation but largely ignored productivity growth. To address this imbalance, we propose a methodology for analyzing productivity convergence based on frontier production functions. We examine whether departures from the frontier are cointegrated, determine the extent and speed of catch-up, and assess the importance of efficiency changes for economic growth. Using a sample of 26 OECD countries from 1965-90, we find convergence and catch-up is fairly strong among EU countries but not among the G-7. Overall, the ability to absorb new technology is an important source of economic growth.
Subjects:cointegration
convergence
growth
productivity
unit root
JEL:C2
O47
O57
Document Type:Working Paper
Appears in Collections:ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn

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