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TFP Growth in Old and New Europe

  • Michael C Burda

    ()

    ([1] Institut für Wirtschaftstheorie II, Universit&aauml;t zu Berlin, Spandauer Straße 1, 10178 Berlin, Germany.[2] Centre for Economic Policy Research (CEPR), London, UK.[3] Institute for the Study of Labor (IZA), Bonn, Germany.)

  • Battista Severgnini

    ()

    ([1] Institut für Wirtschaftstheorie II, Universit&aauml;t zu Berlin, Spandauer Straße 1, 10178 Berlin, Germany.[2] Centre for Economic and Business Research (CEBR), Copenhagen, Denmark.)

Using Solow-Törnqvist residuals as well as two alternative measurements, we present the estimates of total factor productivity (TFP) growth in a sample of 30 European economies for the period 1994–2004. In most of Western Europe, we find a deceleration of TFP growth since 2000. However, the economies of ‘New Europe’ exhibit a higher level of TFP growth overall and have slowed less than those of ‘Old Europe’. In the new market economies of Central and Eastern Europe, we find both high TFP growth as well as acceleration in the second half of the sample. Regression evidence from Western Europe suggests that product market regulation may adversely affect TFP growth and may thus impair convergence.

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Article provided by Palgrave Macmillan in its journal Comparative Economic Studies.

Volume (Year): 51 (2009)
Issue (Month): 4 (December)
Pages: 447-466

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Handle: RePEc:pal:compes:v:51:y:2009:i:4:p:447-466
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