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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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Journal ArticleDOI
TL;DR: Theoretical and policy discussions make unsupported assumptions about the productivity of capital which governments own as mentioned in this paper, and they make assumptions that government capital is significant, statistically and in economic terms.

236 citations

Posted Content
TL;DR: The authors decompose labor productivity growth into components attributable to technological change (shifts in the world production frontier), technological catch-up (movements toward or away from the frontier), and physical and human capital accumulation.
Abstract: Using nonparametric, production-frontier methods, we decompose labor productivity growth into components attributable to technological change (shifts in the world production frontier), technological catch-up (movements toward or away from the frontier), and physical and human capital accumulation (movements along the frontier). We find that (1) technological change is decidedly nonneutral, (2) productivity growth is driven primarily by physical and human capital accumulation, (3) the increased international dispersion of productivity is explained primarily by physical capital accumulation, and (4) international polarization (the shift from a unimodal to a bimodal distribution) is brought about primarily by efficiency changes (technological catch-up).

235 citations

ReportDOI
TL;DR: In this paper, the authors studied the case of China for pitfalls of a state-dominated financial system, including possible segmentation of the internal capital market due to local government interference and mis-allocation of capital.
Abstract: State-owned financial institutions have been proposed as a way to address market failure, but the recent literature has also highlighted their pathological problems. This paper studies the case of China for pitfalls of a state-dominated financial system, including possible segmentation of the internal capital market due to local government interference and mis-allocation of capital. Even without formal legal prohibition to capital movement across regions, we find that capital mobility within China is low. Furthermore, to the extent some capital moves around the country, the government (as opposed to the private sector) tends to allocate capital systematically away from more productive regions toward less productive ones. In this context, a smaller role of the government in the financial sector might increase economic efficiency and the rate of economic growth.

231 citations

Journal ArticleDOI
TL;DR: A theoretical model of the family as producer of health- and social capital finds that social capital is positively related to the level of health capital, which supports the theoretical model.

228 citations

Journal ArticleDOI
TL;DR: In this article, the authors show that the decline of the Soviet growth rate from 1950 to 1987 can be explained by a declining marginal product of capital with a constant rate of growth of total factor productivity.
Abstract: Soviet growth from 1960 to 1989 was the worst in the world after we control for investment and human capital; the relative performance worsens over time. There is some evidence that the burden of defense spending modestly contributed to the Soviet debacle. The declining Soviet growth rate from 1950 to 1987 can be accounted for by a declining marginal product of capital with a constant rate of growth of total factor productivity. The Soviet reliance on extensive growth (rising capital-to-output ratios) was no greater than that of market economies, such as Japan and the Republic of Korea, but a low elasticity of substitution between capital and labor implied especially acute diminishing returns to capital compared with the case in market economies. Copyright 1995 by Oxford University Press.

228 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
202326
202242
202126
202031
201932
201848