Book contents
- Frontmatter
- Contents
- Figures
- Tables
- About the Authors
- Preface
- Acknowledgements
- 1 Introduction
- 2 Basic Concepts
- 3 Productivity Estimation
- 4 Measuring Market Efficiency
- 5 Sources of Data
- 6 Productivity and the Financial Environment
- 7 Productivity and the Labour Market
- 8 Productivity in a Borderless World
- 9 Productivity and Competitive Pressure
- 10 Conclusions
- Bibliography
- Index
2 - Basic Concepts
Published online by Cambridge University Press: 14 April 2022
Book contents
- Frontmatter
- Contents
- Figures
- Tables
- About the Authors
- Preface
- Acknowledgements
- 1 Introduction
- 2 Basic Concepts
- 3 Productivity Estimation
- 4 Measuring Market Efficiency
- 5 Sources of Data
- 6 Productivity and the Financial Environment
- 7 Productivity and the Labour Market
- 8 Productivity in a Borderless World
- 9 Productivity and Competitive Pressure
- 10 Conclusions
- Bibliography
- Index
Summary
It is necessary to distinguish the productivity of a single production factor from the ability of a firm to combine the bundle of inputs at its disposal to create new value. This is total factor productivity (TFP), also known as multi-factor productivity". Firm performance in a sector or region is not centred around an average performance level. Policies should aim to catalyse the dynamic transition of more-productive firms, rather than just working on the average performance of the sector.
Keywords
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- Chapter
- Information
- The Economics of Firm ProductivityConcepts, Tools and Evidence, pp. 8 - 35Publisher: Cambridge University PressPrint publication year: 2022