Accounting For Cross Country Income Differences
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Accounting For Cross Country Income Differences
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Author : Francesco Caselli
language : en
Publisher:
Release Date : 2004
Accounting For Cross Country Income Differences written by Francesco Caselli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Comparative economics categories.
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.
Accounting For Cross Country Income Differences
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Author : Francesco Caselli
language : en
Publisher:
Release Date : 2016
Accounting For Cross Country Income Differences written by Francesco Caselli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The study focused on a cross-section of countries observed in the mid-1990s, so the conclusions from that effort are beginning to be a bit dated. In addition, signi cant revisions of the data underlying the 2005 paper have been published. Last but not least, in the intervening years become aware of ways in which the original methodology can be usefully improved and extended. Hence the present update and upgrade of the original paper. This paper focuses on data (mostly) from 2005 and improves on the original methodology in several dimensions. Development accounting compares differences in income per worker between developing and developed countries to counter-factual differences attributable to observable components of physical and human capital. Such calculations can serve a useful preliminary diagnostic role before engaging in deeper and more detailed explorations of the fundamental determinants of differences in income per worker. The research and policy agenda would then have to focus on technology, allocative efficiency, competition, and other determinants of the efficient use of capital. However because of limitations in thecoverage of the test results, author also present results where human capital is only measured from years of schooling and health. It turns out that, at least in my preferred calibration, the addition or omission of cognitive skills (as measured by test scores) does not greatly affect the quantitative results.
Accounting For Cross Country Income Differences With Public Capital
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Author : German Cubas
language : en
Publisher:
Release Date : 2010
Accounting For Cross Country Income Differences With Public Capital written by German Cubas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Development Accounting And The Rise Of Tfp
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Author : Mr.Rabah Arezki
language : en
Publisher: International Monetary Fund
Release Date : 2010-04-01
Development Accounting And The Rise Of Tfp written by Mr.Rabah Arezki and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-01 with Business & Economics categories.
The paper presents evidence that the contribution of differences in total factor productivity (TFP) to income differences across countries steadily increased between 1970 and 2000. We verify that our finding is neither imputable to measurement errors in input factors nor dependent on the assumption of factor neutral differences in technology. We conclude that theories explaining cross-country income differences based on institutions or on forces that are constant over time, such as geography or legal origin, should be reconsidered in the light of their consistency with the rise of the explanatory power of TFP.
Measuring And Accounting For Cross Country Differences In Education Quality
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Author : Todd Schoellman
language : en
Publisher:
Release Date : 2009
Measuring And Accounting For Cross Country Differences In Education Quality written by Todd Schoellman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This paper measures the role of quality-adjusted education in accounting for cross- country differences in income per worker. The returns to schooling of immigrants to the United States are used as a measure of their source-country education quality. Returns are available for 130 countries and vary by up to an order of magnitude between developed and developing countries. A model shows why the returns to schooling of immigrants and not other wage statistics are an appropriate measure of education quality. The model is consistent with the relationships between education quality, average school attainment, and the returns to schooling for immigrants and non-migrants. Calibrating the model, or augmenting a Bils and Klenow (2000)-style accounting exercise to account for education quality, yields large results. Quality- adjusted schooling is found to account for 38-42% of the income difference between the richest and poorest quintiles of countries, as opposed to the 21-24% in the current literature that accounts only for years of schooling.
Experience Matters
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Author : David Lagakos
language : en
Publisher:
Release Date : 2012
Experience Matters written by David Lagakos and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Accounting categories.
Using recently available large-sample micro data from 36 countries, we document that experience-earnings profiles are flatter in poor countries than in rich countries. Motivated by this fact, we conduct a development accounting exercise that allows the returns to experience to vary across countries but is otherwise standard. When the country-specific returns to experience are interpreted in such a development accounting framework - and are therefore accounted for as part of human capital - we find that human and physical capital differences can account for almost two thirds of the variation in cross-country income differences, as compared to less than half in previous studies.
Explaining Cross Country Income Differences
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Author : Ellen R. McGrattan
language : en
Publisher:
Release Date : 1998
Explaining Cross Country Income Differences written by Ellen R. McGrattan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Income categories.
Routine Biased Technical Change Structure Of Employment And Cross Country Income Differences
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Author : Werner Pena
language : en
Publisher:
Release Date : 2023
Routine Biased Technical Change Structure Of Employment And Cross Country Income Differences written by Werner Pena and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
We investigate links between routine-biased technical change, the structure of occupational employment, and cross-country income differences. To implement this, we combine several data sources including national labour force surveys and Penn World Tables. We first document that in our novel dataset spanning 92 countries there is a negative relationship between the employment share of routine occupations and GDP per hour worked. We then conduct a development accounting exercise where we differentiate labour inputs by occupation and allow for occupationspecific technologies. We find a systematic relationship between occupation-specific technologies and GDP per hour worked. More developed economies use technologies that are more routine-biased. The productivity of routine labour is about 11 times higher in the top 25 percent than in the bottom 25 percent of countries ranked by GDP per hour worked. International differences in this routine labour technology by themselves account for about 13 percent of the 90-10 ratio of GDP per hour worked, whereas differences in abstract labour technology do not contribute to the observed GDP dispersion. Eliminating all occupations' and capital's technology differences across the world would compress the GDP distribution by 35 to 41 percent.
Equipment And Structures Capital
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Author : Piyusha Mutreja
language : en
Publisher:
Release Date : 2014
Equipment And Structures Capital written by Piyusha Mutreja and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
In this article, I present comparable measures of equipment capital and structures capital stocks for 119 countries. Cross-country variation in equipment capital-output ratio is over twice the variation in structures capital and aggregate physical capital. The dispersion in equipment capital has also increased overtime. Using development accounting that incorporates equipment and structures capital, I offer evidence relevant to the debate on the importance of productivity versus factors in accounting for income differences. The new measures of heterogeneous capital reduce the burden on total factor productivity by up to 5%.
Technology Differences Over Space And Time
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Author : Francesco Caselli
language : en
Publisher: Princeton University Press
Release Date : 2016-12-06
Technology Differences Over Space And Time written by Francesco Caselli and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-06 with Business & Economics categories.
Technology Differences over Space and Time looks at how countries use their productive resources—such as workers, skills, equipment and structures, and natural resources. Francesco Caselli develops methods to assess the efficiency with which productive inputs are used, and how these efficiencies vary across countries and over time. Caselli finds that richer countries use skilled workers relatively more efficiently than unskilled workers, and equipment and structures relatively more efficiently than natural resources. They also are relatively more efficient users of labor than of capital. Technological change tends to make countries particularly efficient at using skills and less efficient at using capital. Technical change also favors experienced workers. In order to interpret and understand these findings, Caselli presents a theory of technology choice. In this theory, firms pick technologies that make the most efficient use of the most abundant production factors when these factors are good substitutes for the less abundant factors. Firms pick technologies that make the most of less abundant factors when other suitable factors are not available for substitution. For example, rich countries, where skilled workers are abundant, use skilled workers efficiently, as these are good substitutes for unskilled workers. This flexible framework can be applied to other pairs of inputs, over time, and across countries. Technology Differences over Space and Time has significant implications not only for the theoretical understanding of development and technological innovation, but also for government formulation of industrial policy and multinationals making decisions about what to invest in and where to make those investments.