HOW STRONGLY DO DEVELOPING-ECONOMIES BENEFIT FROM EQUIPMENT INVESTMENT

• 成果类型: Article; Proceedings Paper
• 署名作者: DELONG, JB; SUMMERS, LH
• 署名单位: United States Department of the Treasury; University of California System; University of California Berkeley
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/0304-3932(93)90024-A
• 发表日期: 1993
• 页码: 395-415
• 关键词: growth; Aggregate productivity; Development; INVESTMENT

摘要

We extend and improve the database used in De Long and Summers (1991) and, focusing on developing economies, find that there is a very strong growth-equipment investment association even when rich industrialized economies are not considered. Rapid growth is found where equipment investment is low. If there is a region where the post-WWII growth-equipment nexus is weak, it is the well-integrated and very rich region of western Europe - not the developing world.