Total factor productivity and macroeconomic instability
AbstractTotal factor productivity (TFP) is an important component of growth for most countries. This article 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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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal The Journal of International Trade & Economic Development.
Volume (Year): 20 (2011)
Issue (Month): 5 (September)
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Web page: http://www.tandfonline.com/RJTE20
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