Total Factor Productivity and Macroeconomic Instability
Total factor productivity (TFP) is an important component of growth for most countries. This paper assesses the role of macroeconomic instability on TFP growth. We consider volatility in inflation, openness of an economy and financial market deepness as measures of macroeconomic instability. Empiric...
| Main Authors: | , , |
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| Format: | Journal Article |
| Language: | en_US |
| Published: |
Taylor and Francis
2013
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/13269 |
| Summary: | Total factor productivity (TFP) is an important component of growth for most countries. This paper assesses the role of macroeconomic instability on TFP growth. We consider volatility in inflation, openness of an economy and financial market deepness as measures of macroeconomic instability. Empirical evidence provided from Turkey suggests that volatility of openness and financial market deepness reduce TFP growth, whereas volatility of inflation increases TFP growth. |
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