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Investment-Specific Technical Change and Growth around the World

Author

Listed:
  • Samaniego, Roberto M

    (The George Washington University)

  • Yu Sun, Juliana

    (School of Economics, Singapore Management University)

Abstract

Investment-specific technical change (ISTC) contributes little to growth in most countries. This is because in many countries the investment process does not become notably more efficient over time. Still, cross-country differences in the contribution of ISTC to growth are significant. Differences in the rate of ISTC appear due to cross-country variation in the use of R&D intensive capital goods, as well as trade costs.

Suggested Citation

  • Samaniego, Roberto M & Yu Sun, Juliana, 2016. "Investment-Specific Technical Change and Growth around the World," Economics and Statistics Working Papers 7-2016, Singapore Management University, School of Economics.
    • Handle: RePEc:ris:smuesw:2016_007
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    File URL: http://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2848&context=soe_research
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    Cited by:

    1. Miguel León-Ledesma & Alessio Moro, 2020. "The Rise of Services and Balanced Growth in Theory and Data," American Economic Journal: Macroeconomics, American Economic Association, vol. 12(4), pages 109-146, October.

    More about this item

    Keywords

    Price of capital; investment-specific technical change; growth accounting; sources of growth; natural resources; trade costs.;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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