Sources of TFP Growth : Occupational Choice and Financial Deepening

  title={Sources of TFP Growth : Occupational Choice and Financial Deepening},
  author={Hyeok Jeong and Robert M. Townsend},
This paper explains and measures the sources of TFP by developing a method of growth accounting based on an integrated use of transitional growth models and micro data. We decompose total factor productivity (TFP) growth into the occupational-shift e¤ect, …nancial-deepening e¤ect, capital-heterogeneity e¤ect, and sectoral-Solow-residuals. Applying this method to Thailand, which experienced rapid growth with enormous structural changes between 1976 and 1996, we …nd that 73 percent of TFP growth… CONTINUE READING
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