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Productivity and Economic Growth

Government and Institutions

The author reviews modern academic thinking on the interactions between total factor productivity (TFP) and economic output growth. He pays special attention to the theoretical potential sources of TFP improvements, namely, efficient resource allocations, exploitation of scale economies and positive externalities, and technological progress. He then illustrates by considering the specific historical experiences of China, India, Mexico and South Africa while focusing on the importance of both country-specific institutions and international cooperation.

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Author(s)
T.N. Srinivasan
Publication Date
September, 2005