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Guidelines For Promoting Science, Technology And Technical–Scientific Creativity, By Analyzing The Companies’ Performances, In The Context Of The Globalized Economy

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  • Cosmin FRATOSTITEANU

Abstract

In this paper the Stochastic Frontier approach was used for the estimation and decomposition of manufacturing TFP growth in 14 EU member countries, drawing upon the EU–KLEMS database. This study identifies some key issues: in the period 1970–2005, the TFP rate of change in the EU manufacturing sector constantly decreased, mainly due to the reduction in technical efficiency and, to a lesser extent, to the decline in the rate of growth of input factors and allocative efficiency. In the same period, the sector recorded considerable technical progress, which, nonetheless, did not offset the negative forces which pulled the EU TFP growth down, especially in the last decade of the sample period.

Suggested Citation

  • Cosmin FRATOSTITEANU, 2010. "Guidelines For Promoting Science, Technology And Technical–Scientific Creativity, By Analyzing The Companies’ Performances, In The Context Of The Globalized Economy," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 5(3(13)/Fal), pages 247-257.
  • Handle: RePEc:ush:jaessh:v:5:y:2010:i:3(13)_fall2010:p:112
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    Keywords

    globalization; new economy; technical–scientific progress; economic performance efficiency;

    JEL classification:

    • F00 - International Economics - - General - - - General
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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