Estimation of technical change and TFP growth based on observable technology shifters

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Heshmati, Almas (author): Jönköping University,IHH, Nationalekonomi,Department of Economics, Sogang University, Seoul, South Korea

Rashidghalam, Masoomeh (author): Department of Agricultural Economics, University of Tabriz, Tabriz, Iran

(creator_code:org_t)

2019-10-26
2020
English.
In: Journal of Productivity Analysis. - : Springer. - 0895-562X .- 1573-0441. ; 53:1, s. 21-36

Related links:: https://econpapers.r...; show more...; https://urn.kb.se/re...; https://doi.org/10.1...; show less...

Abstract Subject headings

This paper models and estimates total factor productivity (TFP) growth parametrically. The model is a generalization of the traditional production function model where technology is represented by a time trend. It decomposes TFP growth into an unobservable time trend induced technical change, scale economies and an observable technology shifter index's components. The empirical results are based on unbalanced panel data at the global level for 190 countries observed over the period 1996-2013. It uses a number of exogenous growth factors in modeling four technology shifter indices to explore development infrastructure, finance, technology and human development determinants of TFP growth. Our results show that unobservable technical change remains the most important component of TFP growth. Our findings also show that technical changes and TFP growth are unexpectedly negative across all country income groups and years.

About the subject

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