Productivity Change and Growth in Industry and Agriculture: An International Comparison

Mieko Nishimizu and John M. Page
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Mieko Nishimizu: The World Bank
John M. Page: The World Bank

Chapter 18 in The Balance between Industry and Agriculture in Economic Development, 1989, pp 390-413 from Palgrave Macmillan

Abstract: Abstract On the supply side, the growth of an economy, an industry, or a firm is determined by the rate of expansion of its productive resources and by improvements in their efficiency; that is, by total factor productivity (TFP) growth. In the short run, where there are limits to how fast employable resources can grow, achieving high rates of productivity change offers an important avenue for accelerating economic growth under resource constraints, while in the medium to long term, differential rates of productivity growth among economic activities have a major impact on resource allocation and structural change in an economy.

Keywords: Productivity Growth; Total Factor Productiv; Output Growth; Productivity Change; Total Factor Productiv Growth (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-19746-0_18

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DOI: 10.1007/978-1-349-19746-0_18

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