Productivity Growth across the World, 1991-2003
Donghyun Park () and
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Sangho Kim: Asian Development Bank
Jong-Ho Park: Asian Development Bank
No 212, ADB Economics Working Paper Series from Asian Development Bank
We apply a stochastic frontier production model to data from 53 countries during 1991–2003 to estimate total factor productivity growth, and decompose it into technical efficiency change and technical progress. Our empirical results indicate that world productivity growth was led by fast-growing newly emerging economies, whereas most developed countries experienced a decrease in productivity growth. Technical efficiency change significantly contributed to economic growth for many fast-growing countries, even though emerging economies still lag far behind developed countries in terms of technical efficiency
Keywords: Stochastic frontier production model; economic growth; total factor productivity; technical efficiency; technical progress (search for similar items in EconPapers)
JEL-codes: C23 D24 O47 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:adbewp:0212
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