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Author Burda, Michael C. ♦ Severgnini, Battista
Source EconStor
Content type Text
Publisher SFB 649, Economic Risk
File Format PDF
Language English
Subject Domain (in DDC) Social sciences ♦ Economics
Subject Keyword Total factor productivity growth ♦ Solow residual ♦ product and labor market regulation ♦ Produktivität ♦ Wirtschaftswachstum ♦ Regulierung ♦ Vergleich ♦ Schätzung ♦ Westeuropa ♦ Osteuropa ♦ Europa ♦ Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity ♦ Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence ♦ Socialist Systems and Transitional Economies: Performance and Prospects
Abstract Using Solow-Törnqvist residuals as well as two alternative measurements, we present estimates of total factor productivity (TFP) growth in a sample of 30 European economies for the period 1994-2005. In most of Western Europe, we find a deceleration of TFP growth since 2000. However, the economies of New Europe exhibit a higher level of TFP growth overall and have slowed less than those of Old Europe. In the new market economies of Central and Eastern Europe, we find both high TFP growth as well as acceleration in the second half of the sample. Regression evidence from Western Europe suggests that product market regulation may adversely affect TFP growth and may thus impair convergence.
Part of series SFB 649 discussion paper x2009,033
Learning Resource Type Article
Publisher Date 2009-01-01
Publisher Place Berlin
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