Journal
COMPARATIVE ECONOMIC STUDIES
Volume 51, Issue 4, Pages 421-446Publisher
PALGRAVE MACMILLAN LTD
DOI: 10.1057/ces.2009.8
Keywords
European Union; total factor productivity; structural change; economic convergence; economic growth; capital accumulation; productivity
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We estimate total factor productivity (TFP) growth in agriculture, industry and services in new European Union member countries and show how structural change contributes to growth. Because of the difficulties in measuring the capital stock of transition economies, we develop a model that estimates sectoral TFPs from data on sectoral employment and GDP per capita. Compared to Austria, new EU members have lower TFP levels, but their TFP growth is largely higher. Inter-sectoral movements of labour do not play a large role in aggregate TFP growth, and capital accumulation is an important component of convergence to EU levels of per capita GDP.
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