NBC News Scripts
WBAP-TV (Television station : Fort Worth, Tex.)
1954-12-31
Search results
105 records were found.
Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question ‘how much of the cross-country income variance can be attributed to differences in (physical and human) capital, and how much to differences in the efficiency with which capital is used?’ Hence, it does for the cross-section what growth accounting does in the time series. The current consensus is that efficiency is at least as important as capital in explaining income differences. I survey the data and the basic methods that lead to this consensus, and explore several extensions. I argue that some of these extensions may lead to a reconsideration of the evidence.
Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question “how much of the cross-country income variance can be attributed to differences in (physical and human) capital, and how much to differences in the efficiency with which capital is used?” Hence, it does for the cross-section what growth accounting does in the time series. The current consensus is that efficiency is at least as important as capital in explaining income differences. I survey the data and the basic methods that lead to this consensus, and explore several extensions. I argue that some of these extensions may lead to a reconsideration of the evidence.
Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question ``how much of the cross-country income variance can be attributed to differences in (physical and human) capital, and how much to differences in the efficiency with which capital is used?'' Hence, it does for the cross-section what growth accounting does in the time series. The current consensus is that efficiency is at least as important as capital in explaining income differences. I survey the data and the basic methods that lead to this consensus, and explore several extensions. I argue that some of these extensions may lead to a reconsideration of the evidence.
In skill-biased (deskilling) technological revolutions, learning investments required by new machines are greater (smaller) than those required by preexisting machines. Skill-biased (deskilling) revolutions trigger reallocations of capital from slow- (fast-) to fast- (slow-) learning workers, thereby reducing the relative and absolute wages of the former. The model of skill-biased (deskilling) revolutions provides insight into developments since the mid-1970s (in the 1910s). The empirical work documents a large increase in the interindustry dispersion of capital-labor ratios since 1975. Changes in industry capital intensity are related to the skill composition of the labor force.
Empirical evidence suggests that the natural-resource curse operates through the behavior of the political elite, yet there are few models that convincingly illustrate the mechanism at work. I present a model where natural-resource abundance generates power struggles, thereby increasing the effective discount rate of the governing group. As a result, the elite makes fewer investments in the long-run development of the country.
Growth accounting consists of a set of calculations resulting in a measure of output growth, a measure of input growth, and their difference, most commonly referred to as total factor productivity (TFP) growth. It can be performed at the level of the plant, firm, industry, or aggregate economy. This article discusses the theoretical interpretation of the growth-accounting exercise, problems of measurement, and main empirical results. It concludes with a (very selective) history of the field.
Level accounting (more recently known as development accounting) consists of a set of calculations whose purpose is to find the relative contributions of differences in inputs and differences in the efficiency with which inputs are used to cross-country differences in GDP. It is therefore the cross-country analogue of growth accounting.
