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Total Factor Productivity Growth when Factors of Production Generate Environmental Externalities

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  • Vouvaki, Dimitra
  • XEPAPADEAS, Anastasios

Abstract

Total factor productivity growth (TFPG) has been traditionally associated with technological change. We show that when a factor of production, such as energy, generates an environmental externality in the form of CO₂ emissions which is not internalized because of lack of environmental policy, then TFPG estimates could be biased. This is because the contribution of environment as a factor of production is not accounted for in the growth accounting framework. Empirical estimates confirm this hypothesis and suggest that part of what is regarded as technology's contribution to growth could be attributed to the use of environment in output production.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10237.

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Date of creation: 28 Aug 2008
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Handle: RePEc:pra:mprapa:10237

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Keywords: Total Factor Productivity; Sources of Growth; Environmental Externalities; Energy; Environmental Policy;

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  1. Scott L. Baier & Gerald P. Dwyer, Jr. & Robert Tamura, 2002. "How important are capital and total factor productivity for economic growth?," Working Paper 2002-2, Federal Reserve Bank of Atlanta.
  2. Robert J. Barro, 1998. "Notes on Growth Accounting," NBER Working Papers 6654, National Bureau of Economic Research, Inc.
  3. Dasgupta, Partha & M Ler, Karl-G Ran, 2000. "Net national product, wealth, and social well-being," Environment and Development Economics, Cambridge University Press, vol. 5(01), pages 69-93, February.
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Cited by:
  1. Neophyta Empora & Theofanis Mamuneas, 2011. "The Effect of Emissions on U.S. State Total Factor Productivity Growth," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 3(2), pages 149-172, October.
  2. Elettra Agliardi, 2011. "Sustainability in Uncertain Economies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(1), pages 71-82, January.
  3. Joan Canton & Ariane Labat & Anton Roodhuijzen, 2010. "An indicator-based assessment framework to identify country-specific challenges towards greener grow," European Economy - Economic Papers 401, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.

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