Total Factor Productivity Growth in the Canadian Life Insurance Industry: 1979-1989

Jeffrey I. Bernstein

No 6475, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This is the first paper to directly measure and decompose total factor productivity growth (TFPG) for the Canadian life insurance industry. TFPG averaged 1.0 percent per year over the period from 1979 to 1989, thereby outperforming many manufacturing industries. The rate of TFPG was 0.2 percent in the first half of the 1980's due to the depressed economy and 1.9 percent in the last half of the decade. Technological change was the major element contributing to TFPG. There was a large residual element in the decomposition of TFPG, reflecting possible adjustment costs associated with new information processing technologies.

JEL-codes: D24 G22 (search for similar items in EconPapers)
Date: 1998-03
Note: PR
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Journal Article: Total factor productivity growth in the Canadian life insurance industry: 1979-1989 (1999)
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