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Table 1. Summary of Economic Growth in the United States and South Korea, 1960-2019
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United StatesSouth Korea
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Real GDPReal Capital Stock ComponentPopulation ComponentTotal Factor ProductivityReal GDPReal Capital Stock ComponentPopulation ComponentTotal Factor Productivity
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YearsYK^(1/3)L^(2/3)AYK^(1/3)L^(2/3)A
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1960-19793.74%1.14%0.77%1.78%9.45%2.38%1.42%5.42%
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1980-19993.39%0.89%0.72%1.74%8.63%3.19%0.70%4.53%
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2000-20191.98%0.59%0.53%0.84%3.86%1.35%0.34%2.14%
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All3.05%0.88%0.68%1.47%7.37%2.32%0.83%4.06%
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Note: Each number represents the average annual growth rate during the periods indicated
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