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Contribution of TFP to economic growth of Dong Thap province: Current status and scenarios for the period 2021 - 2025

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  • Dang Hoang Minh Quan

    (Hoa Sen University, Vietnam)

  • Nguyen Kim Phuoc

    (Ho Chi Minh city Open University, Vietnam)

Abstract

The study aims to analyze the contribution of Total Factor Productivity (TFP) in Dong Thap ’province’s economic growth using the Cobb-Douglas production function method, based on the data from 2000 - 2020. The study results show that the contribution of capital (ε_K) is 0.3524, the contribution of labor (ε_L) is 0.6476. Dong Thap province’s average TFP growth rate in each period of 05 years 2011 - 2015 and 2016 - 2020 is 2.31% per year and 1.93% per year, respectively, and ’TFP’s contribution to economic growth is 34.51% and 30.01%, respectively. Based on the status analysis of the period 2011 - 2015 and 2016 - 2020, the study proposes four growth scenarios associated with four productivity orientations for Dong Thap province in 2021 - 2025. This ’study’s results are the basis for organizational policies and orientations for socio-economic development, proposing provincial development guidelines and plans to 2025, oriented to 2030.

Suggested Citation

  • Dang Hoang Minh Quan & Nguyen Kim Phuoc, 2021. "Contribution of TFP to economic growth of Dong Thap province: Current status and scenarios for the period 2021 - 2025," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 11(2), pages 53-66.
    • Handle: RePEc:bjw:econen:v:11:y:2021:i:2:p:53-66
    DOI: 10.46223/HCMCOUJS.econ.en.11.2.1461.2021
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