TFP growth in British and German manufacturing, 1950-96
Crafts, N. F. R. and Mills, Terence C. (2001) TFP growth in British and German manufacturing, 1950-96. Discussion Paper. London: Centre for Economic Policy Research (Great Britain). Discussion paper (Centre for Economic Policy Research (Great Britain)) (No.307).
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The Paper considers the accuracy of traditional TFP growth estimates using an econometric methodology which takes account of scale economies, fixed factors of production and adjustment costs to reveal underlying ‘pure technological change’. The results suggest that these biases vary substantially over time but do not impact heavily on Anglo-German comparisons. In both countries the early post-war years are a period when adjustment costs from a rising supply price of capital goods hold down TFP growth below that which could have accrued from pure technological progress. As might be expected, this problem largely disappeared in the later globalization period.
|Item Type:||Working or Discussion Paper (Discussion Paper)|
|Alternative Title:||Total-factor productivity growth in British and German manufacturing, 1950-96|
|Subjects:||H Social Sciences > HD Industries. Land use. Labor|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Industrial productivity -- Great Britain, Industrial productivity -- Germany, Manufacturing industries -- Great Britain, Manufacturing industries -- Germany, Great Britain -- Economic conditions, Germany -- Economic conditions|
|Series Name:||Discussion paper (Centre for Economic Policy Research (Great Britain))|
|Publisher:||Centre for Economic Policy Research (Great Britain)|
|Place of Publication:||London|
|Official Date:||November 2001|
|Number of Pages:||28|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|Funder:||Economic and Social Research Council (Great Britain) (ESRC)|
|Grant number:||L138251013 (ESRC)|
Aghion, P., Dewatripont, M. and Rey, P. (1997), “Corporate governance, competition policy and industrial policy”, European Economic Review, vol. 41, pp. 797-805.
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