Technological Change, Technological Catch-up, and Capital Deepening: Relative Contributions to Growth and Convergence

摘要

We decompose labor-productivity growth into components attributable to (1) tech- nological change (shifts in the world production frontier), (2) technological catch-up (movements toward or away from the frontier), and (3) capital accumu- lation (movement along the frontier). The world production frontier is constructed using deterministic methods requiring no specification of functional form for the technology nor any assumption about market structure or the absence of market imperfections.