This paper reviews the recent empirical literature on long-run growth to determine what factors influence growth in total factor productivity (TFP) and whether there are any channels of influence that should be added to standard models of long-run growth. Factors affecting productivity fall into three general categories: physical capital, human capital, and innovation (including other factors t...

In an empirical analysis, considering 236 U.S. cities in the period 1980-1990, we document a strong positive correlation between local supply of education skills and their return. In SMSA’s where the average education of workers is high the education premium is also high. This is true both considering the levels of the variables in 1980, 1990 and considering their changes. Technical progress, a...

For three years after developing countries open their stock markets to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of seven. No such increase occurs in a control group of developing countries that do not liberalize. The temporary increase in the growth rate of the real wage permanently drives up the level of avera...

Both the quality and quantity of human capital are important for growth. Although the quality aspects of human capital may have greater potential in explaining growth, given that the quantity effects of human capital have been found to be ambiguous, they have long been ignored in empirical growth literature. This paper empirically tests the joint effects of both the quantity and quality of huma...

The objectives of this study is to investigate the responses of livestock economic variables (namely, output, consumption, prices, labor and capital) to changes in agricultural productivity, monetary, oil revenue and government spending (fiscal policy). To do so, a Dynamic Stochastic General Equilibrium (DSGE) model is constructed for Iran economy disaggregating livestock. Accordingly, the empi...

The issue of whether government capital is productive has received a great deal of recent attention. Yet, empirical analyses of public capital productivity have been limited to a small sample of countries for which official capital stock estimates are available. Building on a new database that provides internationally comparable capital stock estimates, this paper estimates the dynamic effects ...

This study provides a descriptive analysis of human capital in different regions of Pakistan. Three different categories of human capital like rural, urban and overall are formed for the four provinces of Pakistan. The study finds visible difference in human capital situation between rural and urban areas of Pakistan. The study suggests that skills of workforce can be boosted through investment...

Using a matched employer-employee data set of manufacturing plants in three subSaharan countries, I compare the marginal productivity of different categories of workers with the wages they earn. In each country, I observe approximately 135 firms and an average of 5.5 employees per firm. Under certain conditions, the wage premiums for worker characteristics should equal the productivity benefits...

The labour productivity impact of innovation of manufacturing firms in Bangladesh and Pakistan, a highly neglected region for such studies compared with the developed world, is studied in this paper by using World Bank Enterprise Survey data conducted in 2006. To achieve this end, we apply the Cobb-Douglas production function, augmented with innovation-related (and other expected sources of pro...