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Total Factor Productivity Growth and the Role of Externalities

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  • Nicholas Oulton

Abstract

This paper argues that the greater part of economic growth can be accounted for by the accumulation of human and physical capital. The role of externalities is relatively small. This view is defended by reviewing the most sophisticated growth accounting studies and also by presenting some new evidence on the growth of total factor productivity in 53 countries over the period 1965 to 1990.

Suggested Citation

  • Nicholas Oulton, 1997. "Total Factor Productivity Growth and the Role of Externalities," National Institute Economic Review, National Institute of Economic and Social Research, vol. 162(1), pages 99-111, October.
    • Handle: RePEc:sae:niesru:v:162:y:1997:i:1:p:99-111
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    Cited by:

    1. Nigel Driffield & Max Munday & Annette Roberts, 2002. "Foreign Direct Investment, Transactions Linkages, and the Performance of the Domestic Sector," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 9(3), pages 335-351.
    2. Peter WILSON, 2000. "The Dilemma Of A More Advanced Developing Country: Conflicting Views On The Development Strategy Of Singapore," The Developing Economies, Institute of Developing Economies, vol. 38(1), pages 105-134, March.
    3. Nicholas Oulton, 1998. "Technology, Globalisation and Economic Performance - A Review of Daniele Archibugi and Jonathan Michie, eds, Technology, Globalisation and Economic Performance," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 5(3), pages 409-414.
    4. Indunil De Silva & Sudarno Sumarto, 2015. "Dynamics Of Growth, Poverty And Human Capital: Evidence From Indonesian Sub-National Data," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 40(2), pages 1-33, June.
    5. Alexey A. Egorov & Oleg V. Leshukov & Alexander D. Gromov, 2017. "The Role of Universities in Economic Development of Russian Regions," HSE Working papers WP BRP 41/EDU/2017, National Research University Higher School of Economics.
    6. Nigel Driffield & James H. Love, 2003. "Foreign Direct Investment, Technology Sourcing and Reverse Spillovers," Manchester School, University of Manchester, vol. 71(6), pages 659-672, December.
    7. Nigel Driffield & James H. Love & Karl Taylor, 2009. "Productivity And Labour Demand Effects Of Inward And Outward Foreign Direct Investment On Uk Industry," Manchester School, University of Manchester, vol. 77(2), pages 171-203, March.
    8. Mahdiyeh Entezarkheir & Saeed Moshiri, 2021. "Innovation spillover and merger decisions," Empirical Economics, Springer, vol. 61(5), pages 2419-2448, November.

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