Analyzing Patterns of Economic Growth: A Production Frontier Approach
نویسنده
چکیده
Economic growth is best understood as a combination of high and low growth regimes. This paper deals with the sources of growth around growth regimes change. To that end the derivation of structural breaks in growth rates series is combined with nonparametric growth accounting, which allows the decomposition of productivity changes into technological progress and efficiency changes. Even medium-run growth rate changes are mainly the result of productivity changes. Growth spurts due to technological progress happen only in developed countries. Growth spurts in developing countries are catch-up growth episodes based on efficiency improvements. Factor accumulation is of minor importance.
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