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Why isn't the whole world as rich as the United States? Conventional views holds that differences in the share of output invested by countries account for this disparity. Not so, say Stephen Parente and Edward Prescott. In Barriers to Riches, Parente and Prescott argue that differences in Total Factor Productivity (TFP) explain this phenomenon. These differences exist because some countries erect barriers to the efficient use of readily available technology. The purpose of these barriers is to protect industry insiders with vested interests in current production processes from outside competition. Were this protection stopped, rapid TFP growth would follow in the poor countries, and the whole world would soon be rich.

Barriers to Riches reflects a decade of research by the authors on this question. Like other books on the subject, it makes use of historical examples and industry studies to illuminate potential explanations for income differences. Unlike these other books, however, it uses aggregate data and general equilibrium models to evaluate the plausibility of alternative explanations. The result of this approach is the most complete and coherent treatment of the subject to date.

作者简介：

Stephen L. Parente is Associate Professor of Economics at the University of Illinois, Urbana-Champaign.

Edward C. Prescott is Regents' Professor at the University of Minnesota and Economic Advisor, Federal Reserve Bank of Minneapolis.

List of Tables

List of Figures

Preface

Acknowledgments

1 Introduction

2 International Income Facts

Evolution of Income Levels and Differences

Summary of Facts

Some Questions and Features of Candidate Theory

Appendix: Large Rapid Development Experiences

3 Growth Theory with No TFP Differences

The Standard Model

The Two-Sector Extension

The Intangible Capital Extension

4 Growth Theory with a Human Capital Sector

Human Capital Sector Model Extension

Direct Evidence of Human Capital's Role

5 Growth Theory with TFP Differences

The Model

Model Calibration

Findings

Steady-State Output and TFP Differences

6 Constraints on Firm Technologies and TFP

The Plant Technology and the Barrier

From the Plant Technology to the Aggregate Production Function

The Mapping from Barriers to TFP

7 Evidence of Barriers to Efficiency

The Textile Industry

Subsurface Mining in the United States

Relative Industry Productivities across Countries

8 Monopoly Rights: A Theory of TFP Differences

The Economy　105

The Monopoly Rights Arrangement

The Free Enterprise Arrangement

Quantitative Findings

Compensatory Schemes

9 Conclusion

　Why England before Continental Europe

　Why Not Earlier in China

　Why the United States and Switzerland Dia So Well

　Why Japan Experienced Its Development Miracle

　Development Policy: Competition, Free Trade, and

　Privatization

　Final Comment

　Notes

References

Index

Stephen L. Parente is Associate Professor of Economics at the University of Illinois, Urbana-Champaign.

Edward C. Prescott is Regents' Professor at the University of Minnesota and Economic Advisor, Federal Reserve Bank of Minneapolis.

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书籍介绍

Why isn't the whole world as rich as the United States? Conventional views holds that differences in the share of output invested by countries account for this disparity. Not so, say Stephen Parente and Edward Prescott. In Barriers to Riches , Parente and Prescott argue that differences in Total Factor Productivity (TFP) explain this phenomenon. These differences exist because some countries erect barriers to the efficient use of readily available technology. The purpose of these barriers is to protect industry insiders with vested interests in current production processes from outside competition. Were this protection stopped, rapid TFP growth would follow in the poor countries, and the whole world would soon be rich. Barriers to Riches reflects a decade of research by the authors on this question. Like other books on the subject, it makes use of historical examples and industry studies to illuminate potential explanations for income differences. Unlike these other books, however, it uses aggregate data and general equilibrium models to evaluate the plausibility of alternative explanations. The result of this approach is the most complete and coherent treatment of the subject to date.