Library Header Image
LSE Research Online LSE Library Services

Depreciation, obsolescence and the role of capital in growth accounting

Oulton, Nicholas ORCID: 0000-0002-1595-7732 (1995) Depreciation, obsolescence and the role of capital in growth accounting. Bulletin of Economic Research, 47 (1). pp. 21-33. ISSN 0307-3378

Full text not available from this repository.

Identification Number: 10.1111/j.1467-8586.1995.tb00598.x


Maurice Scott has argued that the neoclassical production function and growth accounting are fundamentally flawed as tools for understanding the growth process. If the role of capital were correctly evaluated, then (he argues) the famous ‘residual’ of growth accounting would disappear. Contrary to these claims, this paper seeks to show that growth accounting gives correct answers to interesting questions, even when all technical progress is embodied in new capital goods and even when depreciation is entirely due to obsolescence.

Item Type: Article
Official URL:
Additional Information: © 1995 John Wiley & Sons
Divisions: Centre for Macroeconomics
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
H Social Sciences > HB Economic Theory
Date Deposited: 03 Nov 2020 20:54
Last Modified: 16 May 2024 03:13

Actions (login required)

View Item View Item