IDEAS home Printed from https://ideas.repec.org/a/vrs/seejeb/v18y2023i1p145-160n3.html
   My bibliography  Save this article

Does Total Factor Productivity Growth Ameliorate Socio-Economic Stance? New Findings from Central and Eastern Europe

Author

Listed:
  • Aktaş Emin Efecan

    (1 Ph.D. Assistant Professor Vocational School of Social Sciences, Kirsehir Ahi Evran University)

Abstract

National income calculations may not include knowledge that directly concerns the socioeconomic stance in an economy. Knowledge plays a significant role in promoting the economic growth of a country; however, its socio-economic role has received little attention in the literature. Total factor productivity, which is the main source of long-term economic prosperity, expresses the increase in productivity in all production factors. This paper attempts to quantify the effects of total factor productivity growth on economic prosperity. The analysis is conducted for the 2007-2020 period and 18 Central Eastern Europe countries. The “Legatum Prosperity Index” is utilized in the econometric analysis, in line with the purpose of the study. Results of the study with panel ordinary least squares, panel fixed-effects, panel random effects, panel-corrected standard errors (robustness check), and system-generalized method of moments (robustness check) confirm that total factor productivity growth positively correlated with economic prosperity.

Suggested Citation

  • Aktaş Emin Efecan, 2023. "Does Total Factor Productivity Growth Ameliorate Socio-Economic Stance? New Findings from Central and Eastern Europe," South East European Journal of Economics and Business, Sciendo, vol. 18(1), pages 145-160, June.
    • Handle: RePEc:vrs:seejeb:v:18:y:2023:i:1:p:145-160:n:3
    DOI: 10.2478/jeb-2023-0010
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/jeb-2023-0010
    Download Restriction: no
    File URL: https://libkey.io/10.2478/jeb-2023-0010?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    total factor productivity; economic growth; economic prosperity; and panel data;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:seejeb:v:18:y:2023:i:1:p:145-160:n:3. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.