Permanent International Productivity Growth Differentials in an Integrated Global Economy
Permanent International Productivity Growth Differentials in an Integrated Global Economy
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全球经济一体化中国际生产力增长的永久性差异
DOI:
10.2307/3440907
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发表时间:
1992
期刊:
影响因子:
--
通讯作者:
Kenneth M. Kletzer
中科院分区:
文献类型:
--
作者:
W. Buiter;Kenneth M. Kletzer
The paper analyzes the role of differences in household behavior as a source of persistent and even permanent differences between national or regional productivity growth rates, when there are constant static returns to scale in production and costless international diffusion of technology. A binding self-financing constraint on human capital formation can account for permanent international productivity growth differentials. An alternative mechanism is the nontradedness of an essential input, such as human capital, in the growth process. Differences in national policies toward private saving (whether through lump-sum intergenerational redistribution or through the taxation of financial asset income), toward the subsidization of human capital formation (student loans) and toward the free provision of public sector inputs in the human capital formation process also influence the long-run growth differentials.