Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39601
Authors: 
Cornwell, Christopher Mark
Wächter, Jens-Uwe
Year of Publication: 
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

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