Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries

• Main Authors: Yuan, Zihan, Wei, Ran, Peng, Shiqi
• Other Authors: Xu Qiang
• Format: Final Year Project
• Language: English
• Published: 2014
• Subjects: DRNTU::Social sciences::Economic theory::Macroeconomics
• Online Access: http://hdl.handle.net/10356/61984
• Institution: Nanyang Technological University

Why do some countries produce so much more than others? One popular explanation is that capital market distortions lower the aggregate productivity of a country by allocating resources ine ciently. This paper follows the generalized average revenue product (ARP) approach, which incorporates hetero...