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Updated May 2006

Introductory reading

De Long, J. B. and Summers, L. H. (1991). Equipment investment and economic growth. Quarterly Journal of Economics, 106, 445-502.

De Long, J. B. and Summers, L. H. (1993). How strongly do developing countries benefit from equipment investment? Journal of Monetary Economics, 32, 395-415.

Further reading

Auerbach, A. J., Hassett, K. A. and Oliner, S. D. (1994). Reassessing the social returns to equipment investment. Quarterly Journal of Economics, 109, 789-802.

Caselli, Francesco and Wilson, Daniel J (2004). Importing Technology. Journal of Monetary Economics, January, 51(1), 1-32.

Dellas, Harris and Koubi, Vally (2001). Industrial Employment, Investment Equipment, and Economic Growth. Economic Development and Cultural Change, July, 49(4), 867-81.

De Long, J. B. and Summers, L. H. (1992). Equipment investment and economic growth: how strong is the nexus? Brookings Papers on Economic Activity, 157-199.

De Long, J. B. and Summers, L. H. (1994). How robust is the growth-machinery nexus? in M. Baldassarri, L. Paganetto and E. S. Phelps (eds) International differences in growth rates, St. Martin’s Press, New York.

Eaton, Jonathan and Kortum, Samuel (2001). Trade in capital goods. European Economic Review, June, 45(7), 1195-1235.

Hendricks, Lutz (2000). Equipment investment and growth in developing countries. Journal of Development Economics, 61(2), 335-364.

Jones, C. I. (1994). Economic growth and the relative price of capital. Journal of Monetary Economics, 34, 359-382.

Lee, J.-W. (1995). Capital goods imports and long-run growth. Journal of Development Economics, 48, 91-110.

Madsen, Jakob B. (2002). The Causality between Investment and Economic Growth. Economics Letters, January, 74(2), 157-63.

Oulton, N. and Young, G. (1996). How high is the social rate of return to investment? Oxford Review of Economic Policy, 12(2), Summer, 48-69.

Ortigueira, Salvador (2003). Equipment Prices, Human Capital and Economic Growth. Journal of Economic Dynamics and Control, November, 28(2), 307-29.

Podrecca, Elena and Carmeci, Gaetano (2001). Fixed investment and economic growth: new results on causality. Applied Economics, February, 33(2), 177-82.

Rosenberg, N. (1963). Capital goods, technology, and economic growth. Oxford Economic Papers, 15, 217-227.

Sachs, J. D. and Warner, A. M. (1995). Natural resource abundance and economic growth. NBER working paper no. 5398.

Schmitz, J. A. (2001). Government production of investment goods and aggregate labor productivity. Journal of Monetary Economics, February, 47(1), 163-187.

Temple, Jonathan R. W. (1998). Equipment investment and the Solow model. Oxford Economic Papers, 50(1), January, 39-62.

Temple, Jonathan R. W. and Voth, Hans-Joachim (1998). Human capital, equipment investment, and industrialization. European Economic Review, 42(7), July, 1343-1362.

Yoo, Seung Hoon (2003). Does Information Technology Contribute to Economic Growth in Developing Countries? A Cross-Country Analysis. Applied Economics Letters, September, 10(11), 679-82.

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