In this lab, you will investigate the evolution of productivity gap. Let us suppose that some policy maker, after seeing a graph (attached) published by the magazine The Economist, hires your group to interpret it through the lens of the economic growth theory youâve learned recently. Make sure you use the data available in the lab assignment to back up your arguments.His main questions are:i) Why do you think the top five countries in the list were able to shrink the gap?ii) What theoretical model could explain this pattern? (Choose one of those you discussed in the part II of this course)iii) For the countries listed in the article, could you please tell me what is, in 2009, the number of Internet users and the average productivity growth rates? Is there any relationship? Would expect anything different based on the theory you know regarding technology adoption and growth?iv) What is a General Purpose Technology? Could we consider the Internet to be one example of GPT?v) Buera and Shin (2013), mentioned last class, when discussing the East Asian Growth Miracles, have claimed that âtheir growth accelerations followed large-scale economic reforms that reduced distortions in the economy and led to reallocation of resources across sectors and plantsâ â How could that help you explaining the gap shrinking we see in the graph?
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