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TFP Growth in Old and New Europe
- Source :
- Comparative Economic Studies. 51(4):447-466
- Publication Year :
- 2009
-
Abstract
- 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.
- Subjects :
- Macroeconomics
Economics and Econometrics
Product market
Planned economy
jel:D24
State ownership
Solow residual
Total factor productivity growth
Western europe
Total factor productivity growth, Solow residual, product and labor market regulation
Economics
jel:P27
Demographic economics
jel:O47
Emerging markets
Total factor productivity
Subjects
Details
- Volume :
- 51
- Issue :
- 4
- Database :
- OpenAIRE
- Journal :
- Comparative Economic Studies
- Accession number :
- edsair.doi.dedup.....84f928b14d0b707e515912b5a672088e