Growth accounting - application for Visegrad states
| Authors | |
|---|---|
| Year of publication | 2005 |
| Type | Article in Proceedings |
| Conference | Trendy hospodárskeho a sociálneho rozvoja v krajinách EÚ |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | growth accounting; Cobb-Douglas production function; Solow residual; technology progress |
| Description | This paper deals with growth accounting, i.e. decomposition of the growth rate of output into contribution of individual inputs: labor and capital. The rest part of the growth rate of output represents contribution of technology progress and is calculated as residual (often called Solow residual or total factor productivity). The whole method is theoretically explained. Because of unavailability of some data, a practical application is little restricted. It is applied for Visegrad countries and Germany, for comparison. The results are graphically illustrated and discussed. Limitations of the analysis are summarized in the end. |
| Related projects: |