Secondly, it said Malaysia's recent growth has largely been based on increases in the volume, rather than the efficient allocation, of capital; hence, total factor productivity ( TFP ) growth has undergone a marked slowdown.
32.
However, a 2000 paper by Thomas Miles found " no " effect upon aggregate employment but found that adopting the implied contract exception causes use of labor productivity to rise but total factor productivity to drop.
33.
WEDNESDAY, Dec 31 THE International Monetary Fund, in its annual report, has praised Malaysia for its high level of investment and said that the rapid total factor productivity growth augurs well for sustainable economic growth in the future.
34.
Technology growth and efficiency are regarded as two of the biggest sub-sections of Total Factor Productivity, the former possessing " special " inherent features such as positive externalities and non-rivalness which enhance its position as a driver of economic growth.
35.
Efforts must focus on raising total factor productivity growth as a source of economic growth, he said and added that Malaysia cannot rely on increases in factor inputs as a major source of growth, for it has reached the limits of resource constraints.
36.
They broke out the sources of Asian economic growth into several factors : population growth, investment in physical capital, increased education and " total factor productivity " _ a catch-all term for how efficiently the economies use any given level of labor and capital.
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The depression years were the period of the highest total factor productivity growth in the United States, primarily to the building of roads and bridges, abandonment of unneeded railroad track and reduction in railroad employment, expansion of electric utilities and improvements wholesale and retail distribution.
38.
This equation shows a Cobb Douglas function where " Y " represents the total production in an economy . " A " represents total factor productivity, " K " is capital, " L " is labor, and the parameter a measures the output elasticity of capital.
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Jorgenson and his co-authors demonstrated that input growth, due to investments in human and non-human capital, was the source of more than 80 percent of U . S . economic growth over the past half century, while growth in total factor productivity accounted for only 20 percent.
40.
In time, a third-world country would look and behave similar to a first-world country, and with a new accumulation of capital and an increase of TFP ( total factor productivity ) the nation's industry would, in principle, be capable of trading internationally and competing in the world market.
