Topic
Capital deepening
About: Capital deepening is a research topic. Over the lifetime, 5203 publications have been published within this topic receiving 230297 citations.
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TL;DR: In this paper, the authors consider a situation where foreign capital is allowed to flow only into the export-processing zone of an economy characterized by unemployment and pursuing protectionary policy, and derive conditions under which growth induced by an increase in the flow of foreign capital will be immiserizing.
44 citations
TL;DR: In this paper, the authors developed new estimates of investment in and output of information and communications technology (ICT) and found that GDP growth has been significantly understated, particularly since 1994.
Abstract: This paper develops new estimates of investment in and output of information and communications technology (ICT) These new estimates imply that GDP growth has been significantly understated, particularly since 1994 A growth accounting approach is employed to measure the contribution of ICT to the growth of both aggregate output and aggregate input On both counts, the contribution of ICT has been rising over time From 1989 to 1998, ICT output contributed a fifth of overall GDP growth Since 1989, 55% of capital deepening has been contributed by ICT capital, and 90% since 1994 ICT capital deepening accounts for 25% of the growth of labour productivity over 1989-98 and 48% over 1994-98 But even when output growth is adjusted for the new ICT estimates, both labour productivity and TFP growth are still found to slow after 1994
44 citations
Posted Content•
44 citations
TL;DR: In this article, the authors present new estimates of the workweek of capital from the Census Bureau' Survey of Plant Capacity (SPC), both for their own analytical use and to make workweek data more widely available to other researchers.
Abstract: Over the typical intervals of time studied in economic analysis, the flow of capital services is not a fixed proportion of the capital stock Much of the short-run variation in capital services comes from the duration of operations This paper presents new estimates of the workweek of capital from the Census Bureau' Survey of Plant Capacity (SPC), both for our own analytical use and to make workweek data more widely available to other researchers The paper uses these workweek estimates to reconsider various results in the literature on capital utilization and productivity growth
44 citations
TL;DR: In this article, the authors examined the dynamic causal relationship between financial deepening and economic growth using a multivariate model and found that financial development in Tanzania follows growth, irrespective of whether the causality is estimated in a static or dynamic formulation.
Abstract: In this study the dynamic causal relationship between financial deepening and economic growth is examined using a multivariate model. Unlike the majority of the previous studies, the current study includes foreign capital inflows as an intermittent variable between financial deepening and economic growth, thereby creating a simple trivariate model. Using the newly introduced ARDL-bounds testing procedure, the study finds a distinct unidirectional causal flow from economic growth to financial depth in Tanzania. This applies irrespective of whether the causality is estimated in the short run or in the long run. Other results show that there is a bi-directional causality between financial development and foreign capital inflows, and a prima-facie unidirectional causality from foreign capital inflows to economic growth. The study, therefore, concludes that financial development in Tanzania follows growth, irrespective of whether the causality is estimated in a static or dynamic formulation.
44 citations