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Productivity Change and Growth in Industry and Agriculture: An International Comparison

In: The Balance between Industry and Agriculture in Economic Development

Author

Listed:
  • Mieko Nishimizu

    (The World Bank)

  • John M. Page

    (The World Bank)

Abstract

On the supply side, the growth of an economy, an industry, or a firm is determined by the rate of expansion of its productive resources and by improvements in their efficiency; that is, by total factor productivity (TFP) growth. In the short run, where there are limits to how fast employable resources can grow, achieving high rates of productivity change offers an important avenue for accelerating economic growth under resource constraints, while in the medium to long term, differential rates of productivity growth among economic activities have a major impact on resource allocation and structural change in an economy.

Suggested Citation

  • Mieko Nishimizu & John M. Page, 1989. "Productivity Change and Growth in Industry and Agriculture: An International Comparison," International Economic Association Series, in: Jeffrey G. Williamson & Vadiraj R. Panchamukhi (ed.), The Balance between Industry and Agriculture in Economic Development, chapter 18, pages 390-413, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-19746-0_18
    DOI: 10.1007/978-1-349-19746-0_18
    as

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