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Accumulation, productivity and technology: measurement and analysis of long term economic growth

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  • Ark, Bart van

    (Groningen University)

Abstract

This paper provides a brief overview of the "state of the art" on research on the sources of long term economic growth. It is argued that, despite the enormous progress in development of the theory and empirics on long term economic growth, we are still not able to unambiguously distinguish between the determinants of growth. The distinction between accumulation, productivity and technology is a useful device to structure the debate, as the former two tend to emphasize the importance of investment and increased efficiency in use of resources, whereas the latter puts the contribution of invention and innovation change into the spotlight. However, the most powerful explanations of economic growth are those which combine these various aspects of growth with an explicit focus on historical, institutional and political factors in the growth process. To strengthen empirical research, the paper recommends greater attention for reconstruction of historical national accounts, the development of a broad range of technology indicators.

Suggested Citation

  • Ark, Bart van, 1999. "Accumulation, productivity and technology: measurement and analysis of long term economic growth," CCSO Working Papers 199908, University of Groningen, CCSO Centre for Economic Research.
    • Handle: RePEc:gro:rugccs:199908
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    References listed on IDEAS

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    Cited by:

    1. Bart van Ark, 2014. "Total factor productivity : Lessons from the past and directions for the future," Working Paper Research 271, National Bank of Belgium.
    2. Diana Mihaela Apostol & Cristina Balaceanu, 2011. "Growth and Technology: The New Economy in the 2000's CEE Countries and Romania," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 1(2), pages 46-55, December.

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