Contribution of TFP to economic growth of Dong Thap province: Current status and scenarios for the period 2021 - 2025

Dang Hoang Minh Quan and Nguyen Kim Phuoc ()
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Dang Hoang Minh Quan: Hoa Sen University, Vietnam
Nguyen Kim Phuoc: Ho Chi Minh city Open University, Vietnam

HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, 2021, vol. 11, issue 2, 53-66

Abstract: The study aims to analyze the contribution of Total Factor Productivity (TFP) in Dong Thap ’province’s economic growth using the Cobb-Douglas production function method, based on the data from 2000 - 2020. The study results show that the contribution of capital (ε_K) is 0.3524, the contribution of labor (ε_L) is 0.6476. Dong Thap province’s average TFP growth rate in each period of 05 years 2011 - 2015 and 2016 - 2020 is 2.31% per year and 1.93% per year, respectively, and ’TFP’s contribution to economic growth is 34.51% and 30.01%, respectively. Based on the status analysis of the period 2011 - 2015 and 2016 - 2020, the study proposes four growth scenarios associated with four productivity orientations for Dong Thap province in 2021 - 2025. This ’study’s results are the basis for organizational policies and orientations for socio-economic development, proposing provincial development guidelines and plans to 2025, oriented to 2030.

Keywords: Dong Thap province; economic growth; TFP; total factor productivity (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bjw:econen:v:11:y:2021:i:2:p:53-66

DOI: 10.46223/HCMCOUJS.econ.en.11.2.1461.2021

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