Solow vs. Solow: Notes on Identification and Interpretation in the Empirics of Growth and Development |
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Authors: | Email author" target="_blank">Erich?GundlachEmail author |
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Institution: | (1) Kiel Institute for World Economics, Kiel, Germany |
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Abstract: | Most empirical studies of long-run growth refer to one of the two seminal contributions by Robert Solow in 1956 and 1957.
His work shows that in order to estimate the relative roles of factor accumulation and technology in development, an a priori
identification assumption is needed about the nature of technical change. This specific assumption differs across the two
Solow papers. I show that starting with the identification assumption made by Solow in 1956, one should expect to find that
differences in technology rather than differences in factor accumulation explain most if not all of the observed long-run
differences in output per worker. The opposite interpretation appears to prevail in parts of the recent literature on the
empirics of growth.
JEL no. O4 |
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Keywords: | Solow model growth accounting identification |
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