A Bayesian Analysis of Total Factor Productivity Persistence

2010/01/01 by Tapas Mishra, Claude Diebolt, Mishra, Tapas +5
Economics, Econometrics and Finance · #Africa #Afrika #Bayes-Statistik #Bayesian statistics #Economic Growth and Productivity #Economic theories and models #Innovation #Monetary Policy and Economic Impact #Persistenz #Produktionsfaktor #Produktivität #Wachstum #Wirtschaftswachstum #economic growth #growth #innovation #persistence #production factor #productivity

paper · doi:10.12759/hsr.35.2010.1.363-372

openalex publication_date 2010/01/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/01

Abstract

This paper studies persistence properties of total factor productivity (TFP) from Bayesian perspective. Emphasizing that classical unit root test for TFP cannot determine the probability whether a stochastic shock to the series is permanent, we design a Bayesian unit root test for TFP. Examination for a set of African economies' TFP data show that the probability of having a unit root is very high for majority of countries. The evidence of high-persistence has implications for perpetual growth and business cycles.

Citations

• A Contribution to the Theory of Economic Growth

Related

• Productivity Dispersion: Facts, Theory, and Implications
• Revisiting Productivity Dynamics in Europe: A New Measure of Utilization-Adjusted TFP Growth
• Total Factor Productivity and its determinants: an analysis of the relationship at firm level through unsupervised learning techniques
• Productivity Measurement with Natural Capital
• Bayesian inference in dynamic panel stochastic frontier models