The article documents five stylized facts of economic growth: (1) the 'residual' (total factor productivity, tfp) rather than factor accumulation accounts for most of the income and growth differences across countries; (2) income diverges over the long run; (3) factor accumulation is persistent while growth is not, and the growth path of countries exhibits remarkable variation; (4) economic activity is highly concentrated, with all factors of production...
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INFORMACIÓN
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2001/05/01
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Artículo de periódico
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77355
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1
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1
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2013/05/21
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Disclosed
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It's not factor accumulation : stylized facts and growth models - what have we learned from a decade of empirical research on growth?
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World Bank Economic Review