Total factor productivity drivers in the selected EU countries: Cointegration approach*

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dc.citation.epage248
dc.citation.spage227
dc.citation.volume38
dc.contributor.authorBorović, Zoran
dc.contributor.authorRebić, Mladen
dc.contributor.authorTomaš, Dalibor
dc.date.accessioned2023-07-07T11:49:33Z
dc.date.available2023-07-07T11:49:33Z
dc.date.issued2020
dc.description.abstractIn this paper, we will present the results of our survey on TFP and its main drivers. For this purpose, our analysis is based on a sample of thirteen EU countries for the period 1995 - 2016. In the first iteration, we have estimated the TFP for selected countries. The main goal of this paper is to determine the existence of a long-run relationship, ie. cointegration between the TFP and its main drivers: Foreign Direct Investment, trade openess, Information and Communication Technologies, Research and Development, and human capital. To do so, in the second iteration we have used the relatively new panel ARDL (Autoregressive Distributed Lag) model proposed by Pesaran (1997) and Pesaran and Shin (1999). The obtained results in this paper reveal the existence of a long-term relationship, i.e. co-integration between the TFP on one hand, and R&D, and ICT, on the other hand, confirming the basic hypothesis that there is a long-term and statistically significant relationship, i.e. co-integration between the above-mentioned variables.
dc.identifier.doi10.18045/zbefri.2020.1.??
dc.identifier.urihttps://vaseljena.ues.rs.ba/handle/123456789/385
dc.language.isoen
dc.publisherUniversity of Rijeka, FACULTY OF ECONOMICS
dc.sourceZbornik radova Ekonomskog fakulteta u Rijeci
dc.subjectgrowth, total factor productivity, foreign direct investment, research and development, information and communication technologies, Cobb-Douglas production function, cointegration
dc.titleTotal factor productivity drivers in the selected EU countries: Cointegration approach*
dc.typeArticle
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