Total Factor Productivity and Macroeconomic Instability

• Tác giả: Hakan Berument
• Ngôn ngữ: eng
• Ký hiệu phân loại: 339.5 Macroeconomic policy
• Thông tin xuất bản: Taylor and Francis, 2013
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 325895
• Chủ đề: 1. macroeconomic instability; 2. TFP growth; 3. VAR-GARCH models

Tóm tắt

Total factor productivity (TFP) is an important component of growth for most countries. This paper assesses the role of macroeconomic instability on TFP growth. We consider volatility in inflation, openness of an economy and financial market deepness as measures of macroeconomic instability. Empirical evidence provided from Turkey suggests that volatility of openness and financial market deepness reduce TFP growth, whereas volatility of inflation increases TFP growth.