Solow model for South Korea (Alwyn Young, QJE 1995)

Economy-Excluding agriculture

Output Labor Capital Employment Capital stock TFP

growth share share growth growth (A index)
DY/Y WL WK DL/L DK/K DA/A
1960-70 0.111 0.690 0.310 0.088 0.132 0.009
1970-80 0.095 0.678 0.323 0.054 0.148 0.011
1980-90 0.096 0.734 0.266 0.060 0.104 0.024

Percentage contributions to growth

Labor Capital TFP
GDP growth deepening deepening contribution
100 54.7 36.9 8.4
100 38.5 50.3 11.1
100 45.9 28.8 25.3

Solow model for Taiwan

Economy-Excluding agriculture

Output Labor Capital Employment Capital stock TFP

growth share share growth growth (A index)
DY/Y WL WK DL/L DK/K DA/A
1966-70 0.111 0.739 0.261 0.044 0.171 0.034
1970-80 0.103 0.739 0.261 0.068 0.144 0.015
1980-90 0.078 0.749 0.251 0.032 0.083 0.033

Percentage contributions to growth

Labor Capital TFP
GDP growth deepening deepening contribution
100 29.3 40.2 30.5
100 48.8 36.5 14.7
100 30.7 26.7 42.6
Harrod-Domar model

Country Name Series Name 1994 1995 1996 1997 1998

Brazil GDP growth (annual %) 5.33436 4.416832 2.15 3.374939 0.035512
Brazil Gross domestic savings (% of GDP) 22.49812 16.5091 15.24068 15.22658 15.02886
Brazil Gross fixed capital formation (% of GDP) 20.74787 18.3232 16.8706 17.37055 16.96907
China GDP growth (annual %) 13.08068 10.92498 10.00852 9.297034 7.833347
China Gross domestic savings (% of GDP) 43.51887 43.53864 42.49156 42.44228 41.40106
China Gross fixed capital formation (% of GDP) 35.92006 34.35387 33.78653 32.87831 33.84861
Kenya GDP growth (annual %) 2.632785 4.406217 4.146839 0.474902 3.290214
Kenya Gross domestic savings (% of GDP) 22.10768 15.25742 8.092916 6.456646 8.133996
Kenya Gross fixed capital formation (% of GDP) 18.87307 21.38559 16.00906 15.3879 15.67521
Korea, Rep. GDP growth (annual %) 8.771893 8.930624 7.185917 5.766741 -5.7139
Korea, Rep. Gross domestic savings (% of GDP) 33.42818 33.81402 32.7133 32.57825 34.74349
Korea, Rep. Gross fixed capital formation (% of GDP) 33.61828 34.49734 34.64185 32.81438 27.8449
United States GDP growth (annual %) 4.042725 2.716554 3.79849 4.477317 4.451063
United States Gross domestic savings (% of GDP) 20.82421 20.44076 20.82047 22.00151 21.75769
United States Gross fixed capital formation (% of GDP) 21.21689 21.20536 21.63033 22.36278 22.8469
Mexico GDP growth (annual %) 4.727355 -5.75868 5.874767 6.962889 4.701842
Mexico Gross domestic savings (% of GDP) 16.95507 21.1615 21.69553 20.72147 21.37433
Mexico Gross fixed capital formation (% of GDP) 18.3955 15.06294 16.51952 17.7369 19.79708
 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
0.255597 4.305746 1.314896 2.655974 1.146749 5.713917 3.156352 3.955415 6.095455 5.169299
14.97175 16.48639 16.71292 17.70971 18.68251 20.99429 19.81409 19.65842 19.84772 20.88451
15.65701 16.79975 17.0314 16.38634 15.27776 16.09663 15.93846 16.43088 17.43999 19.11253
7.619836 8.431279 8.300318 9.082068 10.02538 10.08504 11.31004 12.67653 14.1624 9.634668
39.57317 37.52782 38.3877 40.43716 43.38589 45.91242 47.62098 50.67264 50.55329 51.76391
34.04137 34.11233 34.4302 36.25956 39.38272 40.72956 40.13946 40.66028 39.10631 40.78532
2.305389 0.599695 3.779906 0.54686 2.932476 5.1043 5.906666 6.330633 6.993285 0.232283
8.99461 7.280189 8.706657 9.761489 10.52351 10.70601 10.18888 9.36698 10.40017 7.382228
15.59143 16.70881 18.15156 17.23688 15.83821 16.25922 18.69911 19.42444 19.96473 18.86492
10.73059 8.831278 4.525319 7.432434 2.933207 4.899852 3.923687 5.176134 5.463406 2.829214
32.79698 35.01224 33.11342 32.4396 34.02625 35.94598 34.59809 33.48185 33.70587 33.00777
27.22647 31.61681 30.67367 30.38544 31.25019 31.19972 30.86101 30.74047 30.51392 31.38203
4.786503 4.088701 0.976985 1.787118 2.808059 3.787531 3.345803 2.665862 1.773286 -0.25967
21.29164 20.44571 18.22008 17.85926 17.45246 18.00341 18.16981 18.25215 17.62654 15.65502
23.31843 23.56973 22.05182 21.57595 21.65985 22.52727 23.22262 23.33302 22.35177 20.78526
2.667013 5.296474 -0.60549 0.131917 1.422671 4.295714 3.032574 5.001385 3.148226 1.40029
21.61632 21.92783 19.68979 18.52816 20.44355 20.8962 20.83017 22.19087 21.78068 22.13245
20.3187 20.90187 19.95947 18.77524 20.59061 21.15396 21.25664 21.94748 22.2388 23.06341
 1994-2003
Savings Predicted
2009 2010 2011 2012 2013 Country ICOR rate growth
-0.32825 7.533615 2.732509 1.031804 2.492012 Brazil 6.9 16.9 2.5
17.67773 19.20729 18.99288 16.07602 15.4101
18.06866 19.46144 19.27874 18.17224 18.18305
9.214199 10.44699 9.299885 7.652553 7.671191 China 3.7 41.3 11.2
52.6544 51.97929 50.74947 51.47711 51.84878
45.96025 45.73084 45.5887 46.53913 47.30204
3.30694 8.405699 6.122051 4.45227 5.743139 Kenya 6.8 10.5 1.5
8.53424 7.928004 4.505868 5.961753 4.484972
18.50505 20.37169 20.39011 21.24062 20.41401
0.707518 6.496785 3.681705 2.292382 2.97111 Korea, Rep. 5.3 33.5 6.3
33.15254 35.20777 34.45373 33.79552 34.05157
31.31846 30.50037 30.24319 29.56949 29.65649
-2.80362 2.527679 1.602019 2.317374 2.221387 United States 6.5 20.1 3.1
13.74604 15.37983 15.07678 16.05561 16.7592
17.51267 18.39499 18.54504 19.17009 19.34805
-4.70034 5.110199 4.044615 3.983089 1.070417 Mexico 7.4 20.4 2.8
21.40255 20.82339 21.00923 22.09628 20.95052
22.49934 21.10254 21.76375 22.42121 21.04994
 2004-2013
Observed Observed/
growth predicted
3.8 1.5

10.2 0.9

5.3 3.4

3.8 0.6

1.7 0.6

2.6 1.0