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Total factor productivity growth and the role of externalities

Oulton, Nicholas (1997) Total factor productivity growth and the role of externalities. National Institute Economic Review, 162. pp. 99-111. ISSN 0027-9501

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Identification Number: 10.1177/002795019716200108


This paper argues that the greater part of economic growth can be accounted for by the accumulation of human and physical capital. The role of externalities is relatively small. This view is defended by reviewing the most sophisticated growth accounting studies and also by presenting some new evidence on the growth of total factor productivity in 53 countries over the period 1965 to 1990.

Item Type: Article
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Additional Information: © 1997 Cambridge University Press
Divisions: Centre for Macroeconomics
Subjects: H Social Sciences > HB Economic Theory
Date Deposited: 03 Nov 2020 15:24
Last Modified: 20 Feb 2021 02:34

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