Accounting for Productivity Growth: Schumpeterian versus Semi-Endogenous Explanations

In this paper we analyze whether empirical evidence across a range of countries and manufacturing sectors favours semi-endogenous or Schumpeterian accounts of efficiency gains. Which theoretical framework finds support carries profound implications for policy. Under Schumpeterian productivity growth there exists the prospect sustainable unbounded growth. Under semi-endogenous growth productivity is constrained. For South Africa our […]