I recently wrote some Python code to compute paths of technology and the implied Solow residuals using data from the Penn World Tables. Combining the results with some country metadata (i.e., income groupings) from the World Bank API yields this pretty interesting graphic...

If you don't already have the Penn World Tables data...no worries! The script will download the PWT data, compute the Solow residuals based on a method used by Hall and Jones (1999). Based on this decomposition, high income (i.e., red) countries had higher levels of technology in 1960 and higher subsequent growth rates of technology. In fact, the low income (i.e., purple) countries have had effectively zero technological progress since 1960!

Enjoy!

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I am grateful to you and expect more number of posts like these. Thank you very much.

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