"Knowledge, technology and economic growth: an OECD perspective"

Bassassini, Andrea and Scarpetta, Stefano and Visco, Ignazio (2000) "Knowledge, technology and economic growth: an OECD perspective". In National Bank of Belgium > How to Promote Economic Growth in the Euro Area, Brussels, May 11-12, 2000, pages 43, Brussels, Belgium.

Abstract

In this paper we present an international comparison of growth trends with special attention given to developments in labour productivity, allowing for human capital accumulation, and multifactor productivity (MFP), allowing for changes in the composition of fixed capital. In this context an attempt is made, where possible, to identify both the embodied (in particular in ICT equipment) and disembodied components of technical progress. The possible relation between improvements in MFP and the accumulation of knowledge (as proxied by R&D expenditures) is also discussed, and some tentative policy considerations are advanced, mainly with reference to general framework conditions that might have a bearing in fostering technological changes.