DRIVING FORCES OF TOTAL FACTOR PRODUCTIVITY IN EUROPE

• Authors: Ochotnický Pavol , Alexy Martin , Káčer Marek
• Languages of publication: EN

Abstracts

EN

In this paper, we explore the driving forces behind total factor productivity growth in 28 European countries in the period from 2005 to 2019. Based on neoclassical theory, theory of endogenous economic growth and competitiveness theory we formulate four research hypotheses related to the impact of technological readiness, human capital, business and tax environment and creativity on the TFP growth. We used fixed effects model focusing on the impact within the countries. Our results suggest that technological readiness is an important driving force behind TFP growth. We could only partially confirm the impact of the remaining explanatory variables.

Keywords

EN

TOTAL FACTOR PRODUCTIVITY; TFP; ECONOMIC GROWTH; TECHNOLOGY; HUMAN CAPITAL; CREATIVITY

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2020
• Volume: 68
• Issue: 10
• Pages: 1002 – 1020

Contributors

author

Ochotnický Pavol

• University of Economics in Bratislava, Faculty of National Economy, Dolnozemská cesta 1, 852 35 Bratislava 5, Slovak Republic

author

Alexy Martin

author

Káčer Marek

Identifiers

DOI

https://doi.org/10.31577/ekoncas.2020.10.02