engleski

Production Factor Contributions to the Economic Growth of OECD Economies at the Industry Level

The paper presents research on the industry level growth accounting applied on the case of OECD economies. Even though from the 1990s there was a voluminous literature on aggregate productivity effects, international comparison of industry level growth was neglected. Therefore, due to development of new datasets at the industry level of part of the OECD countries this paper tries to fulfill the gap. Several econometric procedures, based on both stationary and non-stationary panel regression were pursued. Estimation results show robust positive effects of capital accumulation across all sectors and share of high-skilled persons engaged in the sector of manufacturing. However, standard econometric issues still remain open.

Industry; economic growth; OECD; panel regression

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