Population Growth, Factor Accumulation, and Productivity PDF Download

Author: Lant Pritchett
Publisher: World Bank Publications
ISBN:
Category : Capital
Languages : en
Pages : 44

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Author: Lant Pritchett
Publisher:
ISBN:
Category :
Languages : en
Pages :

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January 1996 New insights -- from new data -- on the relationship between population growth, factor accumulation, and productivity. In research on how population growth affects economic performance, some researchers stress that population growth reduces the natural resources and capital (physical and human) per worker while other researchers stress how greater population size and density affect productivity. Despite these differing theoretical predictions, the empirical literature has focused mainly on the relationship between population growth and output per person (or crude proxies for factor accumulation). It has not decomposed the effect of population through factor accumulation and the effect through productivity. Pritchett uses newly created cross-country, time-series data on physical capital stocks and the educational stock of the labor force to establish six findings: * There is no correlation between the growth of capital per worker and population growth. * The common practice of using investment rates as a proxy for capital stock growth rates is completely unjustified, as the two are uncorrelated across countries. * There is either no correlation, or a weak positive correlation, between the growth of years of schooling per worker and the population growth rate. * Enrollment rates are even worse as a crude proxy for the expansion of the educational capital stock, as the two are negatively correlated. * There is no correlation, or a weak negative correlation, between measures of total factor productivity growth and population growth. * Nearly all of the weak correlation between the growth of output per person and population growth is the result of shifts in participation in the labor force, not of changes in output per worker. This paper is a product of the Poverty and Human Resources Division, Policy Research Department.

Author: Alistair Dieppe
Publisher: World Bank Publications
ISBN: 1464816093
Category : Business & Economics
Languages : en
Pages : 552

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The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

Author: Ansley Johnson Coale
Publisher:
ISBN: 9781258303228
Category :
Languages : en
Pages : 410

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Author: Mr.Shekhar Aiyar
Publisher: International Monetary Fund
ISBN: 1475569491
Category : Social Science
Languages : en
Pages : 29

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The age-distribution of Europe’s workforce has shifted towards older workers over the past few decades, a process expected to accelerate in the years ahead.. This paper studies the effect of the aging of the workforce on labor productivity, identifies the main transmission channels, and examines what policies might mitigate the effects of aging. We find that workforce aging reduces growth in labor productivity, mainly through its negative effect on TFP growth. Projected workforce aging could reduce TFP growth by an average of 0.2 percentage points every year over the next two decades. A variety of policies could ameliorate this effect.

Author: Steven Durlauf
Publisher: Springer Science & Business Media
ISBN: 3642612113
Category : Business & Economics
Languages : en
Pages : 204

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One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring answers to this question is to promote exports -either because doing so directly influences development via encouraging production of goods for export, or because export promotion permits accumulation of foreign exchange which permits importation of high-quality goods and services, which can in turn be used to expand the nation's production possibilities. In either case, growth is said to be export-led; the latter case is the so-called "two-gap" hypothesis (McKinnon, 1964; Findlay, 1973). The early work on export-led growth consisted of static cross-country com parisons (Michaely, 1977; Balassa, 1978; Tyler, 1981; Kormendi and Meguire, 1985). These studies generally concluded that there is strong evidence in favour of export-led growth because export growth and income growth are highly correlated. However, Kravis pointed out in 1970 that the question is an essen tially dynamic one: as he put it, are exports the handmaiden or the engine of growth? To make this determination one needs to look at time series to see whether or not exports are driving income. This approach has been taken in a number of papers (Jung and Marshall, 1985; Chow, 1987; Serletis, 1992; Kunst and Marin, 1989; Marin, 1992; Afxentiou and Serletis, 1991), designed to assess whether or not individual countries exhibit statistically significant evidence of export-led growth using Granger causality tests.

Author: David Bloom
Publisher: Rand Corporation
ISBN: 0833033735
Category : Social Science
Languages : en
Pages : 127

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There is long-standing debate on how population growth affects national economies. A new report from Population Matters examines the history of this debate and synthesizes current research on the topic. The authors, led by Harvard economist David Bloom, conclude that population age structure, more than size or growth per se, affects economic development, and that reducing high fertility can create opportunities for economic growth if the right kinds of educational, health, and labor-market policies are in place. The report also examines specific regions of the world and how their differing policy environments have affected the relationship between population change and economic development.

Author: Alan H. Gelb
Publisher: World Bank Publications
ISBN: 9780821344958
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
Africa in the 21st Century offers a comprehensive review of development prospects in each of the major development sectors.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264603980
Category :
Languages : en
Pages : 154

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This report presents a comprehensive overview of recent and longer-term trends in productivity levels and growth in OECD countries, accession countries, key partners and some G20 countries.

Author: Elhanan Helpman
Publisher: Academic Foundation
ISBN: 9788171884841
Category : Business & Economics
Languages : en
Pages : 250

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Book Description
Organizes the tale of economic growth around many themes: the importance of the accumulation of physical and human capital.