Publication details

Growth accounting - application for Visegrad states


HLOUŠEK Miroslav

Year of publication 2005
Type Article in Proceedings
Conference Trendy hospodárskeho a sociálneho rozvoja v krajinách EÚ
MU Faculty or unit

Faculty of Informatics

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.
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