Impact of the transition on the total factor productivity in Croatia
The goal of this paper is to determine the impact of transition on the total factor productivity (TFP) in Croatia. Hypothesis of our paper is that transition had a positive impact on the growth rate of TFP and its share in the GDP growth. We employ growth accounting methodology to estimate TFP an...
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| Format: | Article |
| Language: | deu |
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Faculty of Economics University of Rijeka
2016-12-01
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| Series: | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
| Subjects: | |
| Online Access: | https://www.efri.uniri.hr/sites/efri.uniri.hr/files/cr-collections/2/01-raguz-kristic-2016-2.pdf |
| _version_ | 1828497595022966784 |
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| author | Irena Raguž Krištić Ivo Družić Josip Tica |
| author_facet | Irena Raguž Krištić Ivo Družić Josip Tica |
| author_sort | Irena Raguž Krištić |
| collection | DOAJ |
| description | The goal of this paper is to determine the impact of transition on the total factor
productivity (TFP) in Croatia. Hypothesis of our paper is that transition had a
positive impact on the growth rate of TFP and its share in the GDP growth. We
employ growth accounting methodology to estimate TFP and structural break tests
to estimate total number and location(s) of structural break(s) in the estimated
TFP series. In order to test for the robustness of our results we combine different
sets of assumptions and derive 18 different TFP series. The fundamental results of
the paper imply that transition had a positive effect on the TFP growth rate, but it
did not have statistically significant effect on the relative importance (share) of
TFP in GDP growth rate. Structural break tests have indicated two statistically
significant break locations in the TFP growth rate data. The first break in 1979 is closely connected with overall slowdown of growth, while the second break
location in 1993 can be attributed to the transition reforms. Estimated locations of
the structural breaks are robust over all 18 estimated TFP series. The basic
conclusion from this research is that transition reforms have managed to spark the
growth of the overall economy as well as TFP, but the relative importance of the
TFP vis a vis other growth factors such as human or physical capital did not
significantly change. |
| first_indexed | 2024-12-11T12:51:43Z |
| format | Article |
| id | doaj.art-b4254d54e2e248a2bdab9804530aaa88 |
| institution | Directory Open Access Journal |
| issn | 1331-8004 |
| language | deu |
| last_indexed | 2024-12-11T12:51:43Z |
| publishDate | 2016-12-01 |
| publisher | Faculty of Economics University of Rijeka |
| record_format | Article |
| series | Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu |
| spelling | doaj.art-b4254d54e2e248a2bdab9804530aaa882022-12-22T01:06:41ZdeuFaculty of Economics University of RijekaZbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu1331-80042016-12-0134227130810.18045/zbefri.2016.2.271Impact of the transition on the total factor productivity in CroatiaIrena Raguž Krištić0Ivo Družić1Josip Tica2Assistant Professor, Faculty of Economics and Business Zagreb, Zagreb, CroatiaFull Professor, Faculty of Economics and Business Zagreb, Zagreb, CroatiaFull Professor, Faculty of Economics and Business Zagreb, Zagreb, CroatiaThe goal of this paper is to determine the impact of transition on the total factor productivity (TFP) in Croatia. Hypothesis of our paper is that transition had a positive impact on the growth rate of TFP and its share in the GDP growth. We employ growth accounting methodology to estimate TFP and structural break tests to estimate total number and location(s) of structural break(s) in the estimated TFP series. In order to test for the robustness of our results we combine different sets of assumptions and derive 18 different TFP series. The fundamental results of the paper imply that transition had a positive effect on the TFP growth rate, but it did not have statistically significant effect on the relative importance (share) of TFP in GDP growth rate. Structural break tests have indicated two statistically significant break locations in the TFP growth rate data. The first break in 1979 is closely connected with overall slowdown of growth, while the second break location in 1993 can be attributed to the transition reforms. Estimated locations of the structural breaks are robust over all 18 estimated TFP series. The basic conclusion from this research is that transition reforms have managed to spark the growth of the overall economy as well as TFP, but the relative importance of the TFP vis a vis other growth factors such as human or physical capital did not significantly change.https://www.efri.uniri.hr/sites/efri.uniri.hr/files/cr-collections/2/01-raguz-kristic-2016-2.pdftotal factor productivitytransitiongrowth accountingstructural breaks |
| spellingShingle | Irena Raguž Krištić Ivo Družić Josip Tica Impact of the transition on the total factor productivity in Croatia Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu total factor productivity transition growth accounting structural breaks |
| title | Impact of the transition on the total factor productivity in Croatia |
| title_full | Impact of the transition on the total factor productivity in Croatia |
| title_fullStr | Impact of the transition on the total factor productivity in Croatia |
| title_full_unstemmed | Impact of the transition on the total factor productivity in Croatia |
| title_short | Impact of the transition on the total factor productivity in Croatia |
| title_sort | impact of the transition on the total factor productivity in croatia |
| topic | total factor productivity transition growth accounting structural breaks |
| url | https://www.efri.uniri.hr/sites/efri.uniri.hr/files/cr-collections/2/01-raguz-kristic-2016-2.pdf |
| work_keys_str_mv | AT irenaraguzkristic impactofthetransitiononthetotalfactorproductivityincroatia AT ivodruzic impactofthetransitiononthetotalfactorproductivityincroatia AT josiptica impactofthetransitiononthetotalfactorproductivityincroatia |