Gains in total factor productivity (TFP)
reflecting more efficient use of inputs, have long been
recognized as an important source of improvements in income
and welfare. Cross-country differences in income levels and
growth rates are mostly due to differences in productivity.
Measuring TFP is therefore important in assessing
countries' past and potential economic performance. But
it is also difficult. This note discusses some of the
difficulties using data for the Republic of Korea in 1960-70
for illustration.
Bibliographic Details
| Main Authors: |
Ghosh, Swati R.,
Kraay, Aart |
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| Format: | Brief
biblioteca
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| Language: | English |
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| Published: |
World Bank, Washington, DC
2000-09
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| Subjects: | TOTAL FACTOR PRODUCTIVITY,
ECONOMIC INDICATORS,
INPUT OUTPUT ANALYSIS,
PRODUCTION FUNCTIONS,
ECONOMETRICS AGGREGATE LEVEL,
AVERAGE ANNUAL GROWTH,
BASE YEAR,
CAPITAL STOCK,
CONSTANT RETURNS,
CONSTANT RETURNS TO SCALE,
DECREASING RETURNS,
DEVELOPING COUNTRIES,
DEVELOPMENT ECONOMICS,
ECONOMIC MANAGEMENT,
ECONOMIC PERFORMANCE,
ECONOMIC POLICY,
ECONOMIC REFORMS,
ECONOMICS RESEARCH,
ELASTICITY,
ELASTICITY OF SUBSTITUTION,
FACTOR ACCUMULATION,
FACTOR PRICES,
GROWTH ASSUMPTIONS,
GROWTH PROCESS,
GROWTH RATE,
GROWTH RATES,
HUMAN CAPITAL,
IMPERFECT COMPETITION,
INCOME,
INCREASING RETURNS,
INCREASING RETURNS TO SCALE,
LABOR FORCE,
LABOR INPUT,
LONG RUN,
MACROECONOMICS,
OUTPUT GROWTH,
POLICY ISSUES,
POVERTY REDUCTION,
PRODUCTION FUNCTION,
PRODUCTIVITY GROWTH,
PUBLIC INVESTMENT,
REAL GDP,
RETURNS TO SCALE,
STRUCTURAL CHANGE,
TECHNICAL CHANGE,
TFP,
VALUE ADDED,
WAGES, |
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| Online Access: | http://documents.worldbank.org/curated/en/2000/09/828348/measuring-growth-total-factor-productivity
http://hdl.handle.net/10986/11423
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