Productivity, innovation and economic growth: understanding the embodied and disembodied contributions of factor inputs

Juan Ricardo Perilla Jiménez ()
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Juan Ricardo Perilla Jiménez: Fundación Universidad del Norte

No 53, Documentos Departamento de Economía from Universidad del Norte

Abstract: The role of productivity measurement in the assessment of the decoupling hypothesis–which suggests divergent paths between productivity and the labor income share–is investigated using a detailed dataset on quality-adjusted-production-factors across economic sectors in the Colombian economy over 1990-2019. The quality adjustment is found to increase the contribution of production factors, and to attenuate the contribution of productivity to value added growth. Cointegration relationships between alternative productivity indicators and the labor share do not hold at the aggregate level. But they hold for a number of industries. Short-run robust negative relationships arise for all sectors. But comparison between alternative measures of productivity leads to conclude that quality adjusted measures of productivity has the potential to improve model specification on the econometric assessment of the decoupling effect.

Keywords: Productivity; growth accounting; time series cointegration; panel data (search for similar items in EconPapers)
JEL-codes: O22 O23 O40 O47 O57 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2023-05-05
New Economics Papers: this item is included in nep-eff and nep-gro
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Persistent link: https://EconPapers.repec.org/RePEc:col:000383:000053

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