The decline in the service flow from a stock of capital goods with age, due to the physical retirement of capital units and to the gradual loss of efficiency of each unit remaining, can be described by survival curves and efficiency curves. The paper reconsiders the relationship between these...

Real convergence is an essential objective of Romania’s integration into the EU. Bridging the development gaps between Romania and the EU as soon as possible cannot be achieved exclusively through market forces, since they rather tend to cause divergence and polarization. For this purpose,...

The study is based on the critical observations that the competitive market forces alone are not able to assure the convergence with the developed countries. These observations are grounded on the results of the computation of the marginal capital rate of return, as well as the real process of...

A statistical agency faces several challenges in building Productivity Accounts. What started out as a request for simple ratios of output to employment has moved to a demand for multifactor (total factor) productivity measures that take into account both labor and capital inputs, the...

This paper considers the implications of the conceptual difference between the rental price of capital, embedded in the neoclassical cost identity (output equals the cost of labour plus the cost of capital), and used in growth accounting studies; and the profit rate, which can be derived from...

The paper analyses the determinants of long-term economic performance of east European and CIS economies in two periods: 1960-1989 (the era of central planning) and 1990-2005 (the transition to the market economy system). Throughout the 1960s and 1970s economic growth in eastern Europe...

This study contributes to the debate on whether China’s domestic enterprises (DEs) have experienced a significant catch-up compared with foreign-funded enterprises (FFEs) in high-tech industries. Our paper tries to estimate a new set of capital stock and R&D capital stock by ownership for...

This paper presents a procedure for estimating potential output and the total factor productivity (TFP), to be applied to Peruvian economy. On the basis of potential output series the economic cycle is then calculated to demonstrate that the output gap includes the TFP gap and the unemployment...

We investigate the role rates of return and rates of asset price decline play in explaining sources of productivity growth in the context of a growth accounting approach. Our analysis is based on data from the EU KLEMS database for seven countries in the period of 1990 - 2007. We introduce a...

The purpose of this paper is to measure the influence of information technology (IT) on Japanese economic growth. For this purpose, we first conduct growth accounting analysis for data acquired over the last 30 years, reviewing the contribution of information technology to economic growth. Then...