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Cuong Le Van, Tu-Anh Nguyen, 2009. "Total Factor Productivity, Saving Rate and
Learning-by-Doing in Growth Process."
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| Abstract: |
| In transitional stage saving rate play an important role in output
growth rate as proposed by Krugman. Accumulationists are also right
as claiming that learning-by-doing play an important role in TFP growth
in NIEs. However, using a CES production technology we can show that
the growth model based purely on learning-by-doing is constrained by labor growth rate. If the latter is constant in the long-run, then the growth can not be sustained. |
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