Gross Value Added and Total Factor Productivity In Czech Sectors

• Autorzy: Tomáš Volek , Martina Novotná
• Języki publikacji: EN

Abstrakty

EN

The main purpose of this paper is to consider the development of total factor productivity in the development of gross value added in individual sectors of the economy of the Czech Republic in the period from 1996 - 2011. The National Account was the source of the data. The paper addresses the importance of extensive and intensive sources of economic growth in individual sectors. It was found that the development of total factor productivity does not match the growth of gross value added. The growth of gross value added was significantly influenced by extensive and intensive sources of growth in all of the economy and its sectors. The hypothesis stating that if the total factor productivity rises faster than the gross value added, then the extensive factor is negative was accepted for all sectors of the economy. The influence of intensive factors was primarily found in the manufacturing and commercial service sectors. The results of this study indicate differences in the sources of growth in individual sectors.(original abstract)

Słowa kluczowe

PL

Wartość dodana; Czynniki produkcji; Produktywność; Studium przypadku; Produktywność czynników wytwórczych

EN

Value added; Production factors; Productivity; Case study; Total Factor Productivity (TFP)

• Czasopismo: Contemporary Economics
• Rocznik: 2015
• Tom: 9
• Numer: nr 1
• Strony: 17-28

Twórcy

autor

Tomáš Volek

• University of South Bohemia, Czech Republic

autor

Martina Novotná

• University of South Bohemia, Czech Republic

Bibliografia

• Andersson, L. (2001). Openness and total factor productivity in Swedish manufacturing, 1980-1995. Weltwirtschaftliches Archiv, 137 (4), 690-713.
• Bajona, C., Locay, L. (2009). Entrepreneurship and productivity: The slow growth of the planned economies. Review of Economic Dynamics, 12 (3), 505-522.
• Balk B. M. (2009). On the Relation between Gross Output and Value Added Based Productivity Measures: The Importance of the Domar Factor. Macroeconomic Dynamics, 13, 241-267.
• Barro, J. R., & Sala-i-Martin, X. (2004). Economic growth (2nd ed.). Cambridge, MA: The MIT Press.
• Basile, R., & De Benedictis, L. (2008). Regional unemployment and productivity in Europe. Papers in Regional Science, 87 (2), 173-192.
• Baumol, W. J. (1986). Productivity Growth, Convergence, and Welfare: What the Long-Run Data Show. The American Economic Review, 76 (5), 1072-1085.
• Bernard, A. B., & Jones, C. I. (1996). Comparing Apples to Oranges: Productivity Convergence and Measurement Across Industries and Countries. The American Economic Review, 86 (5), 1216-1238.
• Bhattacharjee, A., de Castro, E., & Jensen-Butler, C. (2009). Regional variation in productivity: a study of the Danish economy. Journal of Productivity Analysis, 31 (3), 195-212.
• Coelli, T. D., Prasada Rao, D. S., O'Donnell, C. J., & Battese G. E. (2005). An Introduction to Efficiency and Productivity Analysis (2nd ed.). New York, NY: Springer.
• Crespo, R. (2008). Total factor productivity: an unobserved components approach. Applied Economics, 40 (16), 2085-2097.
• Čechura, L., & Hockmann, H. (2010). Sources of economical growth in the Czech food processing. Prague Economic Papers, 2, 169-182.
• Dybczak, K., & Flek, V. (2007). Supply-side adjustments in the Czech Republic: A cross-sector perspective. Eastern European Economics, 45 (6), 29-45.
• Fischer, J., Vltavska, K., Doucek, P., & Hanclova, J. (2013). The influence of information and communication technologies on labour productivity and total factor productivity in the Czech Republic. Politicka Ekonomie, 2013 (5), 653-674.
• Fadejeva, L., & Melihovs, A. (2010).Measuring Total Factor Productivity and Variable Factor Utilization. Sector Approach, the Case of Latvia. Eastern European Economics, 48 (5), 63-101.
• Färe, R., Grosskopf, S., Norris, M., & Zhang, Z. (1994). Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries. The American Economic Review, 84 (1), 66-83.
• Färe, R., Grosskopf, S., & Margaritis, D. (2006). Productivity Growth and Convergence in the European Union. Journal of Productivity Analysis, 25 (1-2), 111-141.
• Fried, H. O., Knox Lovell, C. A., & Schmidt, S. S. (2008). Efficiency and productivity. In H. O. Fried, C. A. Knox Lovell & S. S. Schmidt (Eds.), The measurement of productive efficiency and productivity growth (pp. 3-91). New York, NY: Oxford University Press.
• Hájek, M., & Mihola, J. (2009). Analysis of Total Factor Productivity Contribution to Economic Growth of the Czech Republic. Politicka Ekonomie, 2009 (6), 740-753.
• Hájek, M. (2006). Sources of economic growth, total factor productivity and structure in the Czech Republic. Politicka Ekonomie, 2006 (2), 170-189.
• Hindls, R., Hronová, S., & Novák, I. (1999). Analýza dat v manažerském rozhodování [Data analysis in managerial decision]. Prague: Grada Publishing.
• Ireland, P. N., & Schuh, S. (2008). Productivity and US macroeconomic performance: Interpreting the past and predicting the future with a two-sector real business cycle model. Review of Economic Dynamics, 11 (3), 473-492.
• Jílek, J. Fischer, J., Hindls, R., Hronová, S., Moravová, J., & Zelený, M. (2005). Nástin sociálněhospodářské statistiky [Outline of socio-economic statistics]. Prague: Oeconomica.
• Johnston, A. (2011). The Economic Performance of UK Cities, 1995-2005: Driven by Knowledge-based Sectors or Consumption-based Sectors? European Planning Studies, 19 (12), 2095-2108.
• Jorgenson, D. W., & Stiroh, K. J. (2000). U.S. Economic Growth at the Industry Level. The American Economic Review, 90 (2), 161-167.
• Lipsey, R. G., & Garlaw, K. I. (2004). Total factor productivity and the measurement of technological change. Canadian Journal of Economics, 37 (4), 1118-1150.
• Long, J. B., & Plosser, C. I. (1987). Sectoral vs. Aggregate Shocks In The Business Cycle. American Economic Review, 77 (2), 333-336. doi: 10.2307/1805474.
• Mankiw, N. G. (1989). Real Business Cycles: A New Keynesian Perspective. Journal of Economic Perspectives, 3 (3), 79-90.
• O'Mahony, M., & Timmer, M. P. (2009). Output, Input and Productivity Measures at the Industry Level: The EU KLEMS Database. The Economic Journal, 119 (538), F374-F403.
• Pavelka, T. (2007). Employment as one of the sources of economic growth: Development of employment in region. In P. Jedlicka (Ed.), Hradecke Ekonomicke Dny 2007 [Hradec Economic Days 2007]. Economic growth and development in the region (pp. 137-141). Hradec Králové: Gaudeamus.
• Peneder, M., & Stehrer, R. (2007). Neighbours in Transition. National Institute Economic Review, 200 (1), 96-104.
• Sixta, J., Vltavska, K., & Zbranek, J. (2011).Total factor productivity measurement based on labour and capital services. Politicka Ekonomie, 2011 (5), 599-617.
• van Praag, C. M., & Versloot, P. H. (2007). The Economic Benefits and Costs of Entrepreneurship: A Review of the Research. Foundations and Trends in Entrepreneurship, 4 (2), 65-154.
• Prescott, E. C., & Lawrence, R. (1997). A Theory of Total Factor Productivity. International Economic Review, 39 (3), 525-551.
• Solow, R. M. (1957). Technical Change and the Aggregate Production Function. The Review of Economics and Statistics, 39 (3), 312-320.
• Van de Klundert, T., & Potters, J. (1997). McKinsey on capital productivity. Economist, 145 (1), 101-109.

Identyfikatory

DOI

10.5709/ce.1897-9254.157