Theoretical and Applied Economics
No. 4 / 2022 (633), Winter
A cross country analysis of components of economic growth through the growth accounting approach
IIS (Deemed to be University), Jaipur, India
C.R. BISHNOI
IIS (Deemed to be University), Jaipur, India
Abstract. The method of growth accounting has been widely used for examining the components of economic growth for different countries. This method comprises of determining the relative shares of capital accumulation and Total Factor Productivity (TFP) in GDP growth (though the share of other factors can be also considered). This paper attempts to analyze the share of capital accumulation and TFP growth in economic growth for four countries groups – low income, lowermiddle income, upper-middle income and high-income (as classified by the World Bank), over the time period 1991-2019. From the results obtained, it can be concluded that the share of TFP growth has been relatively less as compared to the share of capital accumulation, except for lower-middle income countries. Also, lower and upper-middle income countries have made considerable progress in economic growth, as compared to the other two country groups. The results indicate that there is significant scope for boosting TFP growth by focusing on increased efficiency of labour and capital, which would definitely contribute to the long-term growth process.
Contents
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The nexus between global oil prices and Islamic and conventional stock markets in the developed and developing countries
American bilateral trade with emerging economies and its influence on world economic recovery post Covid-19: Analysis through VECM
Energy poverty and the vulnerable energy consumer in Romania: A curious case of policy schizophrenia
Transitions into self-employment in European Union and Israel: Field study
A cross country analysis of components of economic growth through the growth accounting approach
Financial liberalization and economic growth: The case of Algeria
Financial inclusion in sub-Saharan Africa: Benchmarking against peer developing countries
Cointegration and stock market interdependence: Evidence from India and selected Asian and African stock markets
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An analysis of the effect of widespread unemployment on corruption
The Russia-Ukraine invasion toward increasing food security threat for population: An empirical study using T-GARCH model
Energy consumption and economic growth nexus in Africa: New insights from emerging economies
Two conditions which induce Giffen behavior in any numerical analysis if applied to the Wold-Juréen (1953) utility function
How large is the size of Côte d'Ivoire's informal sector? A MIMIC approach
Portfolio construction and performance evaluation: Evidence from India and Iran
Cost structures, technology levels and collusion
The trend of the economic evolution in Romania in the context of crises