Abstract

BERNAL-BELLON, José Reyes. Technological progress from a Post Keynesian point of view: a comparison between the United States and China. Lect. Econ. [online]. 2023, n.99, pp.153-173.  Epub July 17, 2024. ISSN 0120-2596.  https://doi.org/10.17533/udea.le.n99a349646.

This article presents a comparison of total factor productivity (TFP) for China and the United States. The TFP calculations are compared between the traditional Solow residual and the post-Keynesian proposal developed from the difference between the observed growth rate and the Harrod equation. The calculation of productivity and its contribution to economic growth for China between 1952 and 2014 is -8.7 % unrealistic data, while from the post-Keynesian point of view its contribution to growth is of the order of 5.4 % giving it significant importance to the participation of capital and labor. The same exercise is done for the United States and more reasonable data are found on its contribution to growth based on the post-Keynesian proposal.

Keywords : Total factor productivity; economic growth; Harrod equation.

        · abstract in Spanish | French     · text in Spanish     · Spanish ( pdf )