 Factor Productivity and Economic Growth in BulgariaEconomy and Economic Theory: Problems and Interactions, Conference Proceedings 2017, 2017, issue 1, 118-129 Abstract: The paper studies empirically the impact of factor productivity on the economic growth in Bulgaria. It examines the relationship between growth of the average labor productivity and real GDP growth measured through their rates on a chain basis. By applying the growth accounting approach, the range of impact of total factor productivity on the realized rates of economic growth is calculated. On the basis of the empirical investigation a conclusion is reached that real GDP growth for a period as a whole was under the positive and changeable over time impact of total factor productivity, which, except for 2006 - 2007 and 2014, was stronger than the total impact from developments in capital and labor. A negative effect is observed in 2009, and it was higher compared to the consequences from the dynamics in the rest of supply-driven factors. The effects from developments of the factor productivity are most pronounced in the beginning, in the middle and in the end of the period, when they exceed the two effects of capital and labor. Keywords: production function; average labor productivity; total factor productivity; economic growth (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:vra:pr1712:y:2017:i:1:p:118-129 Access Statistics for this article More articles in Economy and Economic Theory: Problems and Interactions, Conference Proceedings 2017 from Department of Economics, University of Economics - Varna Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.