Federal Reserve Bank of San Francisco
Working Papers in Applied Economic Theory
Determinants of long-run labor productivity growth: a selective survey with some new empirical results
Using cross-country data, we review the empirical evidence concerning long-term labor and total factor productivity growth. We find that the conclusions one can draw from cross-country data are surprisingly modest. Nevertheless, we confirm the crucial role for physical capital accumulation in enhancing labor productivity growth and develop a role for human capital in an endogenous growth framework. We also find that the performances of so-called "ancillary variables" are rather insignificant in the presence of proxies for physical and human capital stocks.
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Mark M. Spiegel, Determinants of long-run labor productivity growth: a selective survey with some new empirical results, Federal Reserve Bank of San Francisco, Working Papers in Applied Economic Theory 94-17, 1994.
Keywords: Labor productivity ; Human capital
This item with handle RePEc:fip:fedfap:94-17
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