Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are the direction and degree of capital misallocation across nations? We revisit these questions by removing public capital from total capital to achieve a more accurate estimate of the marginal productivity of private capital. We calculate MPK schedules in a large sample of advanced and developing countries. Our main result is that, in terms of the Lucas paradox, private capital is allocated remarkably efficiently across nations. Tentative estimates of the marginal productivity of public capital suggest that the deadweight loss from public capital misallocation across countries can be much larger than the one from private capital
Why capital does not flow more heavily into poorer countries with lower capital-labor ratios is aque...
The textbook neoclassical growth model predicts that countries with faster productivity growth shoul...
We examine the empirical role of different explanations for the lack of flows of capital from rich t...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why does capital not flow to developing countries as predicted by the neoclassical model? What are t...
Why does capital not flow to developing countries as predicted by the neoclassical model? What are t...
Whether or not the marginal product of capital (MPK) differs across countries is a question that kee...
Whether or not the marginal product of capital (MPK) differs across countries is a question that kee...
Since his original publication in 1990, Robert E Lucas Jr’s observation of capital failing to flow b...
Large and sustained differences in marginal products of capital (MPKs) across countries are sharply ...
This thesis investigates the determinants of international capital flows and strives to present new ...
Why capital does not flow more heavily into poorer countries with lower capital-labor ratios is aque...
The textbook neoclassical growth model predicts that countries with faster productivity growth shoul...
We examine the empirical role of different explanations for the lack of flows of capital from rich t...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
Why does capital not flow to developing countries as predicted by the neoclassical model? What are t...
Why does capital not flow to developing countries as predicted by the neoclassical model? What are t...
Whether or not the marginal product of capital (MPK) differs across countries is a question that kee...
Whether or not the marginal product of capital (MPK) differs across countries is a question that kee...
Since his original publication in 1990, Robert E Lucas Jr’s observation of capital failing to flow b...
Large and sustained differences in marginal products of capital (MPKs) across countries are sharply ...
This thesis investigates the determinants of international capital flows and strives to present new ...
Why capital does not flow more heavily into poorer countries with lower capital-labor ratios is aque...
The textbook neoclassical growth model predicts that countries with faster productivity growth shoul...
We examine the empirical role of different explanations for the lack of flows of capital from rich t...