A considerable literature has focused on the determinants of total factor productivity (TFP), prompted by the empirical … representative consumer is summarized by current and anticipated future Solow productivity residuals. The equivalence holds for any … parametrically. This result justifies total factor productivity as the right summary measure of welfare, even in situations where it …

: current and future total factor productivity and the capital stock per capita. These variables suffice to calculate welfare … production technology and the degree of market competition. It applies to open economies as well, if total factor productivity is … factor productivity be constructed with prices and quantities as perceived by consumers, not firms. Thus, factor shares need …

The authors explore the links between the investment climate and firm-level productivity and attempt to identify which … dimensions of the investment climate matter most for productivity. Their analysis is based on data collected in a recent … identify those most important in determining productivity. Their results indicate that competitive pressure is the most …