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Analýza vlivu souhrnné produktivity faktorů na ekonomický růst České republiky
[Analysis of Total Factor Productivity Contribution to Economic Growth of the Czech Republic]

Author

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  • Mojmír Hájek
  • Jiří Mihola

Abstract

Total factor productivity is defined as a relation of product to total factor inputs. Its growth is result of qualitative changes, i.e. intensive factors of growth. For measurement of total factor inputs is used production function with two factors, labor and capital (extensive factors). The paper shows the possibility of direct measurement of total factor productivity. Further, there are derived dynamic parameters which measure the share of intensive and extensive factors in economic growth. They also include the case of fall of product and counter (opposite) changes of growth factors. Average annual growth of real GDP of the Czech Republic between periods 1995-2000 and 2001-2007 accelerated from 1.5 % to 4.5 %. Total factor productivity increased from 1.1% to 3.5 % and was the main factor of this acceleration. Dynamic parameter of intensity in the period of slower growth 1995-2000 shows, that the share of intensive factors was 74 %, while in the period of stronger growth 2001-2007 was 78 % (parameter of extensity was 26 % and 22 % respectively).

Suggested Citation

  • Mojmír Hájek & Jiří Mihola, 2009. "Analýza vlivu souhrnné produktivity faktorů na ekonomický růst České republiky [Analysis of Total Factor Productivity Contribution to Economic Growth of the Czech Republic]," Politická ekonomie, Prague University of Economics and Business, vol. 2009(6), pages 740-753.
    • Handle: RePEc:prg:jnlpol:v:2009:y:2009:i:6:id:707:p:740-753
    DOI: 10.18267/j.polek.707
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    References listed on IDEAS

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    1. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    2. John W. Kendrick, 1961. "Productivity Trends in the United States," NBER Books, National Bureau of Economic Research, Inc, number kend61-1, March.
    3. Emília Zimková & Jaroslav Barochovský, 2007. "Odhad potenciálneho produktu a produkčnej medzery v slovenských podmienkach [Estimation of potential product and output gap in slovak conditions]," Politická ekonomie, Prague University of Economics and Business, vol. 2007(4), pages 473-489.
    4. Kamil Dybczak & Vladislav Flek & Dana Hajkova & Jaromir Hurnik, 2006. "Supply-Side Performance and Structure in the Czech Republic (1995-2005)," Working Papers 2006/4, Czech National Bank.
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    Cited by:

    1. Igor Krejčí & Jaroslav Sixta, 2012. "Využití alternativních metod při odhadech stavů a spotřeby fixního kapitálu [Alternative Methods for Measuring of Fixed Capital]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(6), pages 780-800.
    2. Jiří Mihola & Petr Wawrosz & Jana Kotěšovcová, 2015. "Is the most innovative firm in the world really innovative?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 21(1), pages 41-54, March.
    3. Jiří Mihola & Petr Wawrosz, 2014. "Alternativní metoda měření extenzivních a intenzivních faktorů změny HDP a její aplikace na vývoj HDP USA a Číny [An Alternative Method How to Measure Impact of the Intensive and Extensive Factors ," Politická ekonomie, Prague University of Economics and Business, vol. 2014(5), pages 583-604.
    4. Tomáš Volek & Martina Novotná, 2015. "Gross Value Added and Total Factor Productivity In Czech Sectors," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 9(1), March.
    5. Jaroslav Sixta & Kristýna Vltavská, 2016. "Změny v měření ekonomiky a dopady do odhadu produktivity [Changes in the Measuring of Economy and Its Impact on Productivity Estimation]," Politická ekonomie, Prague University of Economics and Business, vol. 2016(3), pages 351-368.

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    More about this item

    Keywords

    total factor productivity; sources of economic growth; growth accounting; extensive and intensive factors of growth; dynamic parameters of extensity and intensity of economic growth;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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