Why do growth rates differ?

Differences in growth rates can be largely explained by capital deepening and an ability to produce new technology in the form of patents, research published by the Bank of Finland finds.

The research also indicates that the importance of patents is magnified by the openness of the economy.

The data sample covers the period from 1960 to 2004 and 14 OECD countries including the US.

Click here to read the research

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