| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5415 |
| DP5415 Top Research Productivity and its Persistence | |
| Reinhilde Veugelers; Stijn Kelchtermans | |
| 发表日期 | 2005-12-16 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Standard growth accounting exercises find large cross-country differences in aggregate TFP. Here we ask whether specific sectors are driving these differences, and, if this is the case, which these problem sectors are. We argue that to answer these questions we need to consider four sectors. In contrast, the literature typically considers only two sectors. Our four sectors produce services (nontradable consumption), consumption goods (tradable consumption), construction (nontradable investment), and machinery and equipment (tradable investment). Interacting the data from the 1996 benchmark study of the Penn World Tables with economic theory, we find that the TFP differences across countries are much larger in the two tradable sectors than in the two nontradable sectors. This is consistent with the Balassa--Samuelson hypothesis. We also find that within the tradable sectors the TFP differences are much larger in machinery and equipment than in consumption goods. We illustrate the usefulness of our findings by accounting for the conflicting results of the existing two--sector analyses and by developing criteria for a successful theory of aggregate TFP. |
| 主题 | International Macroeconomics |
| 关键词 | Development accounting Sector tfps Relative prices |
| URL | https://cepr.org/publications/dp5415 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534271 |
| 推荐引用方式 GB/T 7714 | Reinhilde Veugelers,Stijn Kelchtermans. DP5415 Top Research Productivity and its Persistence. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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