Measuring Growth in Total Factor Productivity

Measuring Growth in Total Factor Productivity

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...

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Bibliographic Details
Main Authors: Ghosh, Swati R., Kraay, Aart
Format: Brief
Language:English
Published: World Bank, Washington, DC 2012
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
Online Access:http://documents.worldbank.org/curated/en/2000/09/828348/measuring-growth-total-factor-productivity
http://hdl.handle.net/10986/11423
Description
Summary: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.

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