This paper examines productivity growth in Romania using balance sheet data for a census of Romanian firms in 2011 …-17. Three measures of productivity are estimated: labor productivity, revenue total factor productivity, and revenue total … factor productivity adjusted for markups. Drawing from these measures, the paper follows a two-step approach to answer two …

One of the key determinants of potential growth are productivity gains. Total factor productivity (TFP) differences are …: the aggregate productivity loss from microeconomic distortions that prevent factors of production from being allocated to … key driver of productivity gains. Since distortions preventing misallocation can be driven by institutional obstacles …