“Catching up in Czech Republic, Hungary and Poland” – a new paper by Jan Witajewski-Baltvilks
October 20 2016
The paper summarizes the convergence of the Polish, Hungarian and Czech economies with the German economy and to their steady states in the period between 1995 and 2013
The growth of relative output is decomposed into growth of capital, labour input, human capital and TFP. The paper also proposes a simple new method that takes advantage of the availability of the data on relative factor prices to separate the effect of increased share of well-educated workers and the effect of increased productivity of a more abundant educational group. The results suggest a massive contribution of TFP convergence in the GDP convergence. The accumulation of physical capital was sluggish, particularly before 2007.
- Catching up in Czech Republic, Hungary and Poland, Jan Witajewski-Baltvilks, “Bank & Credit”, Vol. 47, No 4 (2016) – Read More
