What dominates the productivity differences – technology or institutions

G(y) = Ay½and
that y(G) = By with A = 100 and B = 1. What would be the level of income in
this country?Now, say that the institutions view holds and that institutions
improve. Specifically, the relevant constant grows (A or B) grows by 10%. What
is the new value of y?

Consider two countries which we’ll call X
and Y. Say that (AX/ AY) = 2 and that country X is 20
years ahead technologically of Y and that technology grows at 1.1% a year. What
dominates the productivity differences – technology or institutions?

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