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Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ..

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  • Willem H. Buiter
  • Kenneth M. Kletzer

Abstract

The paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations despite a common technology, constant returns to scale and perfect international capital mobility. Private consumption is derived from a three-period overlapping generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital good ('human capital') whose augmentation requires a non-traded current input (time spent by the young in education rather than leisure) We consider the influence on productivity growth differentials of private thrift, public debt, the taxation of capital and savings and of policy towards human capital formation.

Suggested Citation

  • Willem H. Buiter & Kenneth M. Kletzer, 1991. "Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ..," NBER Working Papers 3637, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:3637
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    Cited by:

    1. Philippe Michel & Jean-Pierre Vidal, 2000. "Economic integration and growth under intergenerational financing of human-capital formation," Journal of Economics, Springer, vol. 72(3), pages 275-294, October.
    2. van de Klundert, T.C.M.J. & Smulders, J.A., 1998. "Capital Mobility and Catching Up in a Two-Country, Two-Sector Model of Endogenous Growth," Discussion Paper 1998-13, Tilburg University, Center for Economic Research.
    3. Pozzolo, Alberto Franco, 2004. "Endogenous Growth in Open Economies - A Survey of Major Results," Economics & Statistics Discussion Papers esdp04020, University of Molise, Department of Economics.
    4. Klaus Waelde, 1994. "Trade pattern reversal: The role of technological change, factor accumulation and government intervention," International Trade 9403003, University Library of Munich, Germany, revised 06 Apr 1994.
    5. Alberto Franco Pozzolo, 2004. "Endogenous growth in open economies: a surveys," Temi di discussione (Economic working papers) 527, Bank of Italy, Economic Research and International Relations Area.
    6. Yasushi Iwamoto & Akihisa Shibata, 2008. "International and Intergenerational Aspects of Capital Income Taxation in an Endogenously Growing World Economy," Review of International Economics, Wiley Blackwell, vol. 16(2), pages 383-399, May.
    7. Stefan Dietrich Josten, 2002. "National Debt, Borrowing Constraints, and Human Capital Accumulation in an Endogenous Growth Model," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 58(3), pages 317-338, July.
    8. Sällström, Susanna, 2007. "Hobbies, Skills and Incentives to Work: The Happy Gardener and the Wealthy Golfer," CEPR Discussion Papers 6376, C.E.P.R. Discussion Papers.
    9. Lücke, Matthias, 1992. "Technischer Fortschritt und die Arbeitsteilung zwischen Industrie- und Entwicklungsländern: eine empirische Analyse," Open Access Publications from Kiel Institute for the World Economy 758, Kiel Institute for the World Economy (IfW Kiel).
    10. Thomas Krichel, 1998. "Growing at Different Rates," School of Economics Discussion Papers 9801, School of Economics, University of Surrey.

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