TOTAL FACTOR PRODUCTIVITY OF THE CROATIAN ECONOMY

Tomislav Gelo () and Marko Druzic ()
Additional contact information
Tomislav Gelo: University of Zagreb
Marko Druzic: University of Zagreb

Economic Thought and Practice, 2015, vol. 24, issue 2, 327-344

Abstract: In this paper the sector productivity of Croatian economy is analysed, measured by the labour productivity and total factor productivity (TFP). The first part of the paper elaborates on the importance of productivity onto economic development and national economy growth worldwide, as well as in Croatia. Furthermore, contribution of individual authors in development of the concept of total factor productivity is analysed and methodological approach as the basis of the empirical part of the paper is given. Empirical analysis of total factor productivity and labour productivity is shown in the second part of the paper. Results of the analysis indicate a significant growth of TFP in certain sectors (financial sector about 22 percent), but also a decrease of TFP in a very important sector for Croatian economy, the processing industry, of approximately 10 percent. Productivity was calculated for three different disaggregations in the Croatian economy. This study points out to differences in the results obtained having in mind two different methods were used to calculate the productivity (labour productivity and TFP). In conclusion limitations and disadvantages of the survey which should be eliminated in further research are emphasized.

Keywords: total factor productivity; labour productivity; sector (search for similar items in EconPapers)
JEL-codes: E23 E24 (search for similar items in EconPapers)
Date: 2015
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://hrcak.srce.hr/index.php/clanak/220312 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:avo:emipdu:v:24:y:2015:i:2:p:327-344

Ordering information: This journal article can be ordered from
Economic Thought and Practice, University of Dubrovnik, Branitelja Dubrovnika 29, 20000 Dubrovnik
https://emip.unidu.hr/

Access Statistics for this article

Economic Thought and Practice is currently edited by Nebojsa Stojcic

More articles in Economic Thought and Practice from Department of Economics and Business, University of Dubrovnik Contact information at EDIRC.
Bibliographic data for series maintained by Nebojsa Stojcic ().