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A Criticism of the Concept and Measure for Total Factor Productivity

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Author Info
Rossitsa Rangelova

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Abstract

In the new or so called endogenous theory of growth is grounded on the concept of a more precise measurement of technological progress. In connection to this a critical assessment is made of the measure of total factor productivity (TFP) from a current position, which is in the grounds in the neoclassical model of economic growth. Analyzed is the nature of this measure with the purpose of showing the unrealistic basis on which the concept is formed. Examined are the theoretical and applied weaknesses of TFP.

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Publisher Info
Article provided by Bulgarian Academy of Sciences - Institute of Economics in its journal Economic Thought.

Volume (Year): (2008)
Issue (Month): 3 ()
Pages: 30-49
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Handle: RePEc:bas:econth:y:2008:i:3:p:30-49

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Find related papers by JEL classification:
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

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This page was last updated on 2009-12-3.

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