1965 | OriginalPaper | Chapter
Productivity Growth and Accumu-Lation as Historical Processes
Author : W. E. G. Salter
Published in: Problems in Economic Development
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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This paper belongs as much to the field of growth-model theory as productivity analysis. My first excuse is that the objectives are similar: Productivity analysis seeks to understand the reasons for divergent rates of growth between inputs and outputs; and growth-model theory seeks to define the relationships between the rates of growth of output, labour, capital and technical knowledge. My second excuse is that the particular problem in growth-model theory that I propose to examine is how the capital stock an economy inherits from the past influences its present rate of growth. This is a question that has some relevance to the effect of different stages of industrialization on productivity — although in this paper I am concerned only with theory and have resolved to eschew all practical implications.