We have two main concerns in this paper. First, we wish to assess the extent to which total
factor productivity (TFP) can be taken as a measure of an economy's long-term technological …

TFP is interpreted in the literature in different, mutually contradictory ways. Changes in TFP
are shown to measure not technological change, only the super‐normal returns to investing …

To date, the concept, measurement and interpretation of total factor productivity (TFP) growth
remains highly discussed but poorly understood. This paper attempts to provide a review of …

Colonial Americans were very poor by today's standard of poverty. On the eve of the
American Revolution, GDP per capita in the United States stood at approximately $765 (in …

This paper analyses the Total Factor Productivity (TFP) evolution in OECD countries by
breaking down productivity gains into technical change and efficiency change. To avoid …

The paper criticises the concept of total factor productivity as a measure of technical change
and economic performance on two grounds:(i) theoretical, because it shares all the …

A growth accounting exercise is conducted for 88 countries for 1960-94 to examine the
source of cross-country differences in total factor productivity (TFP) levels. Two differences …

total factor productivity Page 1 total factor productivity Total factor productivity (TFP) is the
portion of output not explained by the amount of inputs used in production. As such, its level is …

Our paper analyzes the causal links between human capital accumulation and growth in
total factor productivity (TFP). In particular, it tests the Nelson-Phelps hypothesis that human …

This paper argues that the greater part of economic growth can be accounted for by the
accumulation of human and physical capital. The role of externalities is relatively small. This …