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Advisor(s)
Abstract(s)
Total factor productivity (TFP), factor accumulation, and growth are analysed for a panel of 40 countries in 2001–11. TFP growth and technical inefficiency are estimated using a stochastic frontier model. Environmental variables are found to have an important role in explaining differences in inefficiency across countries. Over 2001–11, the general improvement in technical efficiency of countries is almost outweighed by technological regress. Results indicate that differences in factor accumulation between OECD and emerging economies are more important than differences in TFP change to explain differences in economic growth. Results also indicate negative and significant random shocks for the OECD countries.
Description
Keywords
Economic growth Total factor productivity Technical efficiency Environmental variables Stochastic frontier analysis
Citation
Aguiar, D., Costa, L., & Silva, E. (2017). An attempt to explain differences in economic growth: a stochastic frontier approach. Bulletin of Economic Research, 69(4), E42–E65. https://doi.org/10.1111/boer.12102
Publisher
Wiley