Different Approaches For Estimation Of Total Factor Productivity
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Different Approaches For Estimation Of Total Factor Productivity
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Author : Veerabhadrappa Bellundagi
language : en
Publisher: Amazon Publishers, USA
Release Date :
Different Approaches For Estimation Of Total Factor Productivity written by Veerabhadrappa Bellundagi and has been published by Amazon Publishers, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on with Reference categories.
Total-factor productivity (TFP) is a variable which accounts for effects in total output not caused by traditionally measured inputs of labour and capital. If all inputs are accounted for, then total factor productivity can be taken as a measure of an economy’s long-term technological change or technological dynamism, scale of economies and efficiency.TFP is regarded as the more accurate productivity measure than the partial productivity measure. The broader the coverage of resources, the better is the productivity measure. The best measure is one that compares output with the combined use of all resources” (Chandel, 2007). TFP is the change in output relative to a weighted combination of all inputs, where the weights are factor shares. Some authors also define TFP as contribution of non-traditional inputs to output. For example non inputs were technology, irrigation, infrastructure, managerial skills and so on.The calculated TFP is decomposed in to a) Scale of economies b) Technical change and c) Residual or Efficiency or Management to know the contribution of non-conventional inputs to the output growth.There are different approaches for estimation of TFP, such as Production function approach, Growth accounting approach and Non-Parametric approach.World ScenarioCoelli, et al., 2003, conducted a study on Total Factor Productivity growth in Agriculture: A Malmquist index analysis of 93 Countries. The results shown that, Asia as a region posted the highest TFP growth of 2.9 percent followed by North America (consisting of USA and Canada), Australasia, Europe, Africa and South America. South America has posted the lowest growth rate of 0.6 per cent followed by Africa with 1.3 per cent growth in TFP. A surprising result is that over the period 1980-2000. The results on continent-level information for six regions revealed that, the largest difference occurs for South and Central America, where the average TFP growth measure increases from 0.6 percent to 1.5 per cent per annum.Country ScenarioChand et al., 2011, estimated average annual TFP growth for the major crops cultivated in India. Among cereals, wheat experienced the highest growth in TFP index during the three decades from 1975 to 2005. Among pulses, the TFP growth was estimated to be 0.5 per cent for moong, followed by gram (0.2 per cent). TFP for Arhar and Urad crops displayed a decline over the past three decades. The TFP is a useful indicator of changes in long-term productivity. The TFP growth (TFPG) in the oilseed sector varied in the range 0.7-0.8 per cent per annum.An attempt was made to analyze the TFP of ragi in Karnataka. The results shown that, TFP for ragi increased from 1.17 during 1999 to 1.81 in 2013. The TFP fell to 0.61 in 2011 and 0.67 in 2008 due to drought during that period. The highest TFP index was observed in 2007-08 (2.18). The average TFP index for 15 years was 1.12.The output index of ragi increased from 1.40 in 1999 to 1.79 in 2013. The average input index of ragi was 1.14 for fifteen years.Suresh, K. 2013, conducted a study on Economic impact of public sector agricultural research in ragi and redgram in Karnataka. The results revealed that, the Total Factor Productivity index of redgram grew at the rate of 3.31 per cent per annum and that of ragi grew at 4.75 per cent per annum. Thus, Public research significantly contributed to TFP growth in ragi.ConclusionTotal factor productivity can be estimated by different approaches. In growth accounting approach the tornqvist-thiel index is commonly used which is based on translog production function. The TFP decomposition analysis helps to identify factors which influence the total factor productivity growth. The results of the decomposition analysis indicate which variable contribute to growth in productivity. This will enable policy makers to suggest plan and programmes to achieve total factor productivity growth.
Index Number And Factor Demand Approaches To The Estimation Of Productivity
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Author : David H. Good
language : en
Publisher:
Release Date : 1996
Index Number And Factor Demand Approaches To The Estimation Of Productivity written by David H. Good and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Industrial productivity categories.
New Developments In Productivity Analysis
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Author : Charles R. Hulten
language : en
Publisher: University of Chicago Press
Release Date : 2007-11-01
New Developments In Productivity Analysis written by Charles R. Hulten and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-01 with Medical categories.
The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
Full Industry Equilibrium
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Author : Arrigo Opocher
language : en
Publisher: Cambridge University Press
Release Date : 2015-05-28
Full Industry Equilibrium written by Arrigo Opocher and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-28 with Business & Economics categories.
This original book develops a systematic zero-net-profit comparative statics theory to shed new light on the microeconomics of industry equilibrium.
Multifactor Productivity Trends
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Author :
language : en
Publisher:
Release Date : 1995
Multifactor Productivity Trends written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business enterprises categories.
Measuring Total Factor Productivity Technical Change And The Rate Of Returns To Research And Development
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Author : Sang V. Nguyen
language : en
Publisher:
Release Date : 1991
Measuring Total Factor Productivity Technical Change And The Rate Of Returns To Research And Development written by Sang V. Nguyen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Industrial productivity categories.
Estimating Total Factor Productivity Growth In A Developing
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Author : A. Kreuger
language : en
Publisher:
Release Date : 1980
Estimating Total Factor Productivity Growth In A Developing written by A. Kreuger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with categories.
The New Empirics Of Economic Growth
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Author : Steven N. Durlauf
language : en
Publisher:
Release Date : 1998
The New Empirics Of Economic Growth written by Steven N. Durlauf and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Economic development categories.
We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis. Instead, attention shifts more directly to questions like, Why do some countries grow faster than others? It is this changed focus that, in our view, has motivated going beyond the neoclassical growth model
Total Factor Productivity Growth In Historical Perspective
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Author : Robert Shackleton
language : en
Publisher:
Release Date : 2013-04-20
Total Factor Productivity Growth In Historical Perspective written by Robert Shackleton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-20 with Business & Economics categories.
Over the past century or more, gains in total factor productivity (TFP) have accounted for well over half the growth in measured U.S. labor productvity (output per hour of work) -- that is, they have contributed more to the measured growth of labor productivity than has growth in the amount of capital per worker -- and they are likely to be critical for future economic growth as well. This study reviews the broad contours of TFP growth in the U.S. economy since 1870, highlighting the contribution of various technological innovations to the growth of different sectors of the economy. It also notes the correlation between TFP growth and improvements in general health and well-being as reflected in changes in life expectancy. Finally, the study discusses the potential for continued growth in TFP in the future. Tables and figures. This is a print on demand report.
World Economic Outlook April 2017
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-04-18
World Economic Outlook April 2017 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-18 with Business & Economics categories.
Global economic activity is picking up with a long-awaited cyclical recovery in investment, manufacturing, and trade, according to Chapter 1 of this World Economic Outlook. World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018. Stronger activity, expectations of more robust global demand, reduced deflationary pressures, and optimistic financial markets are all upside developments. But structural impediments to a stronger recovery and a balance of risks that remains tilted to the downside, especially over the medium term, remain important challenges. Chapter 2 examines how changes in external conditions may affect the pace of income convergence between advanced and emerging market and developing economies. Chapter 3 looks at the declining share of income that goes to labor, including the root causes and how the trend affects inequality. Overall, this report stresses the need for credible strategies in advanced economies and in those whose markets are emerging and developing to tackle a number of common challenges in an integrated global economy.