Total factor productivity drivers in the selected EU countries: Cointegration approach

Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu

Zoran Borović¹  Mladen Rebić¹  Dalibor Tomaš¹ 

[1] Theoretical economic;

关键词: growth;    total factor productivity;    foreign direct investment;    research and development;    information and communication technologies;    cobb-douglas production function;    cointegration;   

DOI  :  10.18045/zbefri.2020.1.295

来源: DOAJ

【 摘 要 】

In this paper, we will present the results of our survey on TFP and its main drivers. For this purpose, our analysis is based on a sample of thirteen EU countries for theperiod1995-2016.Inthefirstiteration,wehaveestimatedtheTFPfor selected countries. The main goal of this paper is to determine the existence of a long-run relationship, ie. cointegration between the TFP and its main drivers. To doso,intheseconditerationwehaveusedtherelativelynewpanelARDL (Autoregressive Distributed Lag) model proposed by Pesaran (1997) and Pesaran and Shin (1999). The obtained results in this paper reveal the existence of a long-term relationship, i.e. co-integration between the TFP on one hand, and R&D, and ICT, on the other hand, confirming the basic hypothesis that there is a long-term and statistically significant relationship, i.e. co-integration between the above-mentioned variables.

【 授权许可】

Unknown