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A Fundamental-based Approach to Productivity Growth

Oluremi Ogun ()

Atlantic Economic Journal, 2015, vol. 43, issue 3, 383-392

Abstract: In this paper, I present a model of productivity growth. I stress the need to generate a long-run productivity growth trend from its fundamentals. The short-run and the long-run determinants of productivity growth are ascertained. The productivity growth fundamentals incorporated into the model are the national systems of innovation, law and order, openness and corruption. Preliminary data investigation is undertaken to condition appropriate modeling. Cointegration and error correction modeling techniques are found to be suitable for the empirical test. The parsimonious error correction model of the observed productivity growth explains over 70% of the short-run variations in the dependent variable. Copyright International Atlantic Economic Society 2015

Keywords: General economics teaching; Economic methodology; Growth theory and models; B4; E00; 040 (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:kap:atlecj:v:43:y:2015:i:3:p:383-392