Total factor productivity and the measurement of technological change
AbstractTFP is interpreted in the literature in different, mutually contradictory ways. Changes in TFP are shown to measure not technological change, only the super-normal returns to investing in such change - returns that exceed the full opportunity cost of the activity. Thus, in the limit, technological change can proceed with unchanged TFP. Measuring the effects of technological change instead requires counterfactual estimates. Reasons why changes in TFP are imperfect measures of super normal returns are also studied - reasons connected with the timing of output responses, the treatment of R&D in the national accounts, the omission of resource inputs, and two types of aggregation.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 37 (2004)
Issue (Month): 4 (November)
Contact details of provider:
Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
Web page: http://economics.ca/cje/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- John Temple & Ludger Woessmann, 2004.
"Dualism and cross-country growth regressions,"
Bristol Economics Discussion Papers
04/560, Department of Economics, University of Bristol, UK.
- Jonathan Temple & Ludger Wößmann, 2006. "Dualism and cross-country growth regressions," Ifo Working Paper Series Ifo Working Paper No. 33, Ifo Institute for Economic Research at the University of Munich.
- Jonathan Temple & Ludger Woessmann, 2004. "Dualism and Cross-Country Growth Regressions," CESifo Working Paper Series 1290, CESifo Group Munich.
- Temple, Jonathan & Wößmann, Ludger, 2006. "Dualism and cross-country growth regressions," Munich Reprints in Economics 19619, University of Munich, Department of Economics.
- Temple, Jonathan & Woessmann, Ludger, 2006. "Dualism and Cross-Country Growth Regressions," CEPR Discussion Papers 5655, C.E.P.R. Discussion Papers.
- Xu Tian & Xiaohua Yu, 2012.
"The Enigmas of TFP in China: A Meta-Analysis,"
Courant Research Centre: Poverty, Equity and Growth - Discussion Papers
113, Courant Research Centre PEG.
- Kenneth Carlaw & Richard Lipsey, 2011. "Sustained endogenous growth driven by structured and evolving general purpose technologies," Journal of Evolutionary Economics, Springer, vol. 21(4), pages 563-593, October.
- Verbic, Miroslav & Majcen, Boris & Cok, Mitja, 2009.
"R&D and Economic Growth in Slovenia: A Dynamic General Equilibrium Approach with Endogenous Growth,"
17819, University Library of Munich, Germany.
- Miroslav Verbič & Boris Majcen & Olga Ivanova & Mitja Čok, 2011. "R&D and Economic Growth in Slovenia: A Dynamic General Equilibrium Approach with Endogenous Growth," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 67-89, March.
- Bazhanov, Andrei, 2011.
"The dependence of the potential sustainability of a resource economy on the initial state: a comparison of models using the example of Russian oil extraction,"
35870, University Library of Munich, Germany.
- Bazhanov, A., 2011. "The Dependence of the Potential Sustainability of a Resource Economy on the Initial State: a Comparison of Models Using the Example of Russian Oil Extraction," Journal of the New Economic Association, New Economic Association, issue 12, pages 77-100.
- Anwar, Sajid & Nguyen, Lan Phi, 2014. "Is foreign direct investment productive? A case study of the regions of Vietnam," Journal of Business Research, Elsevier, vol. 67(7), pages 1376-1387.
- Sawami Matsushita & Abu Siddique & Margaret Giles, 2006. "Education and Economic Growth: A Case Study of Australia," Economics Discussion / Working Papers 06-15, The University of Western Australia, Department of Economics.
- Bazhanov, Andrei & Belyaev, Alexander, 2009. "Адекватность Закрытой Модели Для Российской Экономики В Задаче Сравнительного Анализа Энергетической Стра�," MPRA Paper 15109, University Library of Munich, Germany.
- Carlaw, Kenneth & Easton, Brian & Grimes, Arthur & Mare, David & Sautet, Frederic, 2008. "Ways of Thinking About Economic Growth: Papers from MED's Growth Seminar Series," Occasional Papers 08/7, Ministry of Economic Development, New Zealand.
- Ceyhun Elgin & Selman Cakir, 2014. "Technological Progress and Scienti?c Indicators: A Panel Data Analysis," Working Papers 2014/06, Bogazici University, Department of Economics.
- Les T. Oxley & Kenneth I. Carlaw, 2004. "ICT Diffusion and Economic Growth in New Zealand," Econometric Society 2004 Australasian Meetings 167, Econometric Society.
- Bazhanov, Andrei, 2011. "Зависимость Долгосрочного Роста Ресурсной Экономики От Начального Состояния: Сравнение Моделей На Примере �," MPRA Paper 35888, University Library of Munich, Germany.
- Guoqing Zhao & Zhongyuan Zhang, 2011. "Does method selection matter? A new look at FDI and human capital in Chinese high-tech industries," Frontiers of Economics in China, Springer, vol. 6(1), pages 36-54, March.
- Szalavetz, Andrea, 2011.
[Innovation-driven growth?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 460-476.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Prof. Werner Antweiler).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.