How be explained by differences in capital per worker

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Reference no: EM13147701

Assuming a standard Cobb-Douglas production function, Yi = ?iKi1/3Li2/3, how much of the differences in output per worker between Spain and India can be explained by differences in total factor productivity and how much can be explained by differences in capital per worker.

Spain - predicted output per person is 0.883and observed per capita gdp is 0.542

India - predicted output per person is 0.328 andobserved per capita gdp is 0.074

Reference no: EM13147701

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