(introduction...)

From a macroeconomic standpoint the pace at which a country grows depends on the accumulation of physical and human capital as well as advances in technology motivated by the accretion of capital in its different forms. This process can be captured by a number of variables, which, individually, have limited explanatory power but, collectively, can illuminate the question of growth in sufficient depth. These variables can be grouped according to whether they pertain to physical capital or human capital. Those that reflect the level of physical capital include: