Innovative Growth Accounting

Accounting for China's Growth

Accounting for China’s Growth China has achieved impressive growth over the last three decades. However, there has been debate over the sources of the growth, and the role of the intensive versus extensive margin. Growth accounting exercises at the aggregate level (Rawski and Perkins, 2008; Bosworth and Collins, 2008) suggest an equal role for both. For the non-agricultural sector, there have b...

Growth Accounting with Technological Revolutions

G enerally, technological progress proceeds at a slow and measured pace, with only incremental improvements seen in existing products and technologies in the economy. At times, however, the pace accelerates, and the economy experiences a technological revolution during which radically new products and technologies are introduced. Recent discussions suggest that the world economy is currently ex...

Capital , innovation , and growth accounting

In this paper we show how moving from the neoclassical model to the more recent endogenous growth paradigm can lead to markedly different interpretations of the same growth accounting data. In neoclassical theory, even if between 30 and 70 per cent of the growth of output per worker in OECD countries can be ‘accounted for’ by capital accumulation, yet in the long run all of the growth in output...

The New Growth Theory: Some Intellectual Growth Accounting

This paper discusses the reasons for the success of the New Growth Theory. Given that the NGT has a somewhat tautological quality, that its essential ideas have been known for a long time, and that it does not make contact with a large literature on institutions and economic change, its strong success is arguably surprising. At any rate, it causes problems for models of scientific change that f...

Policies to support High Growth Innovative Enterprises