This paper explores the effects of product and labour market regulation on growth in Total Factor Productivity TFP using panel data from 1974 - 2003 for 18 OECD (Organisation for Economic Co-Operation and Development) countries. Our regressions are specified so that labour and product market regulations can affect productivity both...
This paper investigates the extent to which the gap in total factor productivity between small and large firms is due to differences in the endowment of factors determining productivity and to the returns associated with these factors. Particular emphasis was placed on the contribution of differences in the propensity to...
This paper examines the impact of regulatory reform on the performance of Indian commercial banks. Using a balanced panel data set covering from the beginning of the deregulation period (1992) to the last few years (2004) and employing a DEA Data Envelopment Analysis -based Malmquist index of total factor productivity...
The authors have developed a multi-sector general equilibrium model in which productivity growth is driven by the production of sector-specific knowledge. In the model, long run differences is found in total factor productivity growth across sectors are independent of the parameters of the knowledge production function except for one, which...
We document and account for two facts regarding the relation between international interest rates and Total Factor Productivity TFP in a sample of developing countries. First, there is a negative correlation between both variables at quarterly frequency. Second, the share of agricultural labor and interest rates are positively correlated, whereas...
Total Factor Productivity TFP is the portion of output not explained by the amount of inputs used in production. As such, its level is determined by how e?ciently and intensely the inputs are utilized in production. TFP plays a critical role on economic fluctuations, economic growth and cross-country per capita...
This paper examines the sources of the productivity growth in the U.S. computer industry from 1978 to 1999. It estimates a joint production model of output quantity and quality that distinguishes two types of technological changes: process and product innovations. Based on the estimation results, Total Factor Productivity TFP growth...
Using unobserved stochastic components and Kalman filter techniques, the paper assesses the relative importance of transitory and permanent shifts in Italian real GDP within a production function framework. Evidence suggests that the increase in hours worked that has accompanied pension and labor market reforms accounts for the bulk of low-frequency...
This paper presents an industry-level analysis of the links between techno-logical change and total factor productivity growth. Over the past few decades, numerous studies have documented the links between technological change and productivity growth, generally using Research And Development (R&D) expenditures as an indicator of the intensity of technological change'....
The focus of this paper is on developments in Total Factor Productivity TFP in OECD countries since the 1960s. TFP growth is defined here as that portion of real output growth which is not accounted for by increase in inputs of labour and capital, the two most fundamental factors of...
In last few years stock exchanges have been increasingly diversifying their operations into related business areas such as derivatives trading, post-trading services and software sales. This trend can be observed most notably among profit-oriented trading venues. While the pursuit for diversification is likely to be driven by the attractiveness of...
There is an influential literature studying the impact on Total Factor Productivity TFP of foreign technology obtained through imports trade. This paper builds on that literature and is a first attempt to examine the effects on TFP in the South of technology developed in the North that is diffused not...
This paper investigates the relation between financial reporting, total factor productivity TFP and economic growth. The paper develops the theory that public sharing of financial reports and other associated sources of information such as analyst reports, can help firms learn from their competitors and improve their production process and firm...
This paper models firms' entrepreneurial ability according to their ability to predict changes in productivity (i.e., their prediction ability), and derives an aggregate production function as a result of entrepreneurship. An increase in firms' prediction ability improves allocative efficiency in a competitive economy, but can reduce it when opportunities are...
This paper proposes a transactions cost theory of total factor productivity. In a world with asymmetric information and transactions costs, effort, and thus productivity, must be induced by incentive schemes. Labor contracts trade of the marginal benefits and the marginal costs of effort. The latter include, in addition to the...
This paper investigates the effect of the introduction of incentive regulation upon the Total Factor Productivity TFP growth of electricity generation companies in the United States, using sample data on 61 firms observed over a 13-year period from 1986 to 1998. Empirical estimates of TFP growth are obtained using three...
How does entry affect productivity growth of incumbents? This paper exploits policy reforms in the United Kingdom that changed entry conditions by opening up the U.K. economy during the 1980s and panel data on British establishments to shed light on this question. More entry, measured by a higher share of...
This paper investigates the relationship between firms' innovation practices and performance in Taiwan. Using a panel of 4000 firms, the effects of importing technology (versus doing R&D) were examined on Total Factor Productivity TFP growth. The relationship between these two innovation strategies is also explored. It is found that R&D...
The paper analyzes how social barriers to communication affect economy-wide productivity and factor accumulation. Using a dynamic model of an economy that includes a reproducible capital stock physical or human and effective labor, a negative relationship is shown to exist between social barriers to communication and Total Factor Productivity TFP,...
This paper investigates the channels through which debt affects growth, specifically whether debt affects growth through factor accumulation or total factor productivity growth. It also tests for the presence of nonlinearities in the effects of debt on the different sources of growth. It uses a large panel dataset of 61...
