Abstract :
Conventionalgrowthaccountingexercisesareextendedinthispapertoallowfor
endogeneityofcapital,demographictransitions,agedependency,andemployment
rates,amongotherfactors.UsingdatafortheOECDcountriesintheperiod1870–2006
it isshownthatgrowthhasbeenpredominantlydrivenbydemographicsandTFP
growth.TFPhas,inturn,beendrivenbyR&D,knowledgespilloversthroughthechannel
of imports,educationalattainment,andtheinteractionbetweeneducationalattainment
and thedistancetothetechnologyfrontier.Theestimatessuggestpermanentgrowth
effectsofR&Dandhumancapital
