GDP growth, terms-of-trade effects, and total factor productivity

Kevin Fox and Ulrich Kohli

The Journal of International Trade & Economic Development, 1998, vol. 7, issue 1, 87-110

Abstract: The purpose of this paper is to assess the contribution of each one of the major factors explaining Australian nominal GDP growth: technological change, movements in the terms of trade, increases in the endowments of labour and capital, and changes in domestic output prices. We use an index number technique as well as an econometric approach. Moreover, we look at several methods to decompose total factor productivity growth into secular and unexpected components. All our empirical results have a tight theoretical foundation, being based on the GDP function approach to modelling the production sector of an open economy.

Keywords: Growth; international trade; technological change; index numbers (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (29)

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Working Paper: GDP Growth, Terms-of-Trade Effects and Total Factor Productivity (1996)
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DOI: 10.1080/09638199800000006

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