Publication Type
Working Paper
Version
publishedVersion
Publication Date
4-2016
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.
Keywords
Price of capital, investment-specific technical change, growth accounting, sources of growth, natural resources, trade costs.
Discipline
Growth and Development | Macroeconomics
Research Areas
Macroeconomics
First Page
1
Last Page
68
Publisher
SMU Economics and Statistics Working Paper Series, No. 07-2016
City or Country
Singapore
Embargo Period
6-9-2016
Citation
SAMANIEGO, Roberto M. and SUN, Juliana Yu.
Investment-Specific Technical Change and Growth around the World. (2016). 1-68.
Available at: https://ink.library.smu.edu.sg/soe_research/1849
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.