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The peculiarities of the account for technological progress in the production function

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  • V. Korol'kov

Abstract

The author has investigated the use of production function to forecast GDP growth. He carries out a retrospective analysis the macroeconomic indicators of GDP, number of employed and capital in 110 countries for the period of 1950-2008 and investigates the dependences between the values of GDP, labor and capital. Based on the investigation of generalized production function, the author develops a technique for and makes a calculation of the values of the factor of technological progress for the investigated countries and reveals the peculiarities of calculation of its values in forecasting economic development. The investigation results have been approved in the assessment of the prospect of economic development in Ukraine.

Suggested Citation

  • V. Korol'kov, 2009. "The peculiarities of the account for technological progress in the production function," Economy and Forecasting, Valeriy Heyets, issue 2, pages 97-109.
    • Handle: RePEc:eip:journl:y:2009:i:2:p:97-109
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