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Permanent International Productivity Growth Differentials in an Integrated Global Economy

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  • Buiter, Willem H
  • Kletzer, Kenneth M

Abstract

The paper analyzes the role of differences in household behavior as a source of persistent and even permanent differences between national or regional productivity growth rates when they are constant static returns to scale in production, free international capital mobility and costless international diffusion of technology. The non-tradedness of an essential input, such as human capital, in the growth process can account for permanent international productivity growth differentials. Differences in national policies affecting private savings, whether through lump-sum intergenerational redistribution or through the taxation of financial asset income, can influence the long-run growth differentials. So do the subsidization of private sector inputs and the free provision of public sector inputs in the human capital formation process. Copyright 1993 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Buiter, Willem H & Kletzer, Kenneth M, 1993. "Permanent International Productivity Growth Differentials in an Integrated Global Economy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 95(4), pages 467-493, December.
    • Handle: RePEc:bla:scandj:v:95:y:1993:i:4:p:467-93
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    Cited by:

    1. van de Klundert, Theo & Smulders, Sjak, 2001. "Loss of technological leadership of rentier economies: a two-country endogenous growth model," Journal of International Economics, Elsevier, vol. 54(1), pages 211-231, June.
    2. Buyse, Tim & Heylen, Freddy & Van De Kerckhove, Renaat, 2017. "Pension reform in an OLG model with heterogeneous abilities," Journal of Pension Economics and Finance, Cambridge University Press, vol. 16(2), pages 144-172, April.
    3. Lin, Shuanglin, 2008. "China's value-added tax reform, capital accumulation, and welfare implications," China Economic Review, Elsevier, vol. 19(2), pages 197-214, June.
    4. Ihori, Toshihiro, 2001. "Wealth taxation and economic growth," Journal of Public Economics, Elsevier, vol. 79(1), pages 129-148, January.
    5. Shuanglin Lin & Wei Zhang, 2009. "The effect of corruption on capital accumulation," Journal of Economics, Springer, vol. 97(1), pages 67-93, May.
    6. Philippe Monfort & David de la Croix, 2000. "Education funding and regional convergence," Journal of Population Economics, Springer;European Society for Population Economics, vol. 13(3), pages 403-424.
    7. Renaat Van de Kerckhove & Freddy Heylen & Tim Buyse, 2011. "Pension reform, employment by age, and long-run growth in OECD countries," 2011 Meeting Papers 736, Society for Economic Dynamics.
    8. Freddy Heylen & Renaat Van de Kerckhove, 2014. "Heterogeneous ability and the effects of fiscal policy on employment, income and welfare in general equilibrium," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 14/898, Ghent University, Faculty of Economics and Business Administration.
    9. Jones, Larry E. & Manuelli, Rodolfo E., 1997. "The sources of growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 75-114, January.
    10. Tim Buyse & Freddy Heylen & Renaat Van de Kerckhove, 2013. "Pension reform, employment by age, and long-run growth," Journal of Population Economics, Springer;European Society for Population Economics, vol. 26(2), pages 769-809, April.
    11. Bellettini, Giorgio & Ceroni, Carlotta Berti, 2000. "Social security expenditure and economic growth: an empirical assessment," Research in Economics, Elsevier, vol. 54(3), pages 249-275, September.
    12. F. Heylen & L. Pozzi & J. Vandewege, 2004. "Inflation crises, human capital formation and growth," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/260, Ghent University, Faculty of Economics and Business Administration.
    13. Gaspar, Vitor & Pereira, Alfredo M., 1995. "The impact of financial integration and unilateral public transfers on investment and growth in EC capital-importing countries," Journal of Development Economics, Elsevier, vol. 48(1), pages 43-66, October.
    14. Lin, Shuanglin, 1998. "Labor income taxation and human capital accumulation," Journal of Public Economics, Elsevier, vol. 68(2), pages 291-302, May.
    15. Yasushi Iwamoto & Akihisa Shibata, 1999. "Foreign Tax Credit and the Current Account," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(2), pages 131-148, May.
    16. Chien-Chiang Lee & Chun-Ping Chang, 2006. "Social security expenditure and GDP in OECD countries: A cointegrated panel analysis," International Economic Journal, Taylor & Francis Journals, vol. 20(3), pages 303-320.
    17. Mountford, Andrew, 1997. "Can a brain drain be good for growth in the source economy?," Journal of Development Economics, Elsevier, vol. 53(2), pages 287-303, August.
    18. Thomas Krichel, 1998. "Growing at Different Rates," School of Economics Discussion Papers 9801, School of Economics, University of Surrey.
    19. F. Heylen & A. Schollaert & G. Everaert & L. Pozzi, 2003. "Inflation and human capital formation : theory and panel data evidence," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 03/174, Ghent University, Faculty of Economics and Business Administration.
    20. Yasuhiro Sato & Ken Tabata & Kazuhiro Yamamoto, 2008. "Technological progress, income inequality, and fertility," Journal of Population Economics, Springer;European Society for Population Economics, vol. 21(1), pages 135-157, January.

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