Technological catch-up or resource rents? |
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Authors: | Natalia Merkina |
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Institution: | (1) Department of Economics, University of Oslo, P.O. Box 1095, Blindern, NO-0317 Oslo, Norway |
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Abstract: | This paper studies contribution of capital deepening, technological progress and efficiency improvement to economic growth
while focusing on cross-country data, and thus finds itself at the crossroads of growth and development accounting. We take
a production frontier approach to growth accounting and choose DEA as the frontier estimation method. To explore the effects
that windfall gains from natural resource use have on growth, output data are corrected for pure natural resource rents—part
of GDP figures not earned by either labor or capital. Taking into account countries’ natural resources, we find that in the
two decades from 1970 to 1990 the average contribution of technological catch-up to per worker output growth was, if anything,
negative on the worldwide scale and this trend continued till the mid 1990ies. Analysis of efficiency estimates also shows
a possible change over the period of 1970–1990 in the effect of natural resources on country’s performance |
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