As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.
![As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.](http://cdn.quoteddaily.com/images/toshihiko-fukui/as-the-new-endogenous-growth-theory-suggests-tfp-growth-is-closely-related-to-accumulation-of-the-intangible-capitals-such-as.jpg)
As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.