About the product
One of the controversies in growth analysis is the relative role of capital accumulation and productivity growth in driving output growth. As we interpret the evidence, discussed in this paper, part of the controversy on the role of capital accumulation in the growth process is due to the time span of the analysis. New evidence is showing that growth fluctuations at frequencies of a decade or so are very important part of the growth story for many developing countries. In this context, investment and savings become important variables whose determinants and dynamics we want to understand for designing public policies affecting positively the rate of economic growth
