EN
A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation
Abstract
In this paper, we discuss the relationship between Total Factor Productivity (TFP), accumulation and institutions. In order to show these connections, a new model is presented that is able to shed some light on the links involving this multi-dimensional relationship, which goes from countries’ quality of institutions to their stocks of physical and human capital and from these to TFP. The model is constructed in analogy with the physical law of thermal expansion and it introduces a new parameter that measures the response of TPF to variations in stocks of capital, in relation to institutional quality. Thanks to the proposed model, an operational methodology of such a parameter is defined (based on certain macroeconomic variables) and an estimate of it is provided (on the basis of a time series relative to a wide range of countries).
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
December 1, 2017
Submission Date
December 1, 2017
Acceptance Date
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Published in Issue
Year 2017 Volume: 7 Number: 4
APA
Pipitone, V., & Seta, L. (2017). A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation. International Journal of Economics and Financial Issues, 7(4), 347-357. https://izlik.org/JA65GA46AU
AMA
1.Pipitone V, Seta L. A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation. IJEFI. 2017;7(4):347-357. https://izlik.org/JA65GA46AU
Chicago
Pipitone, Vito, and Luciano Seta. 2017. “A New Proposal to Model the Relationships Between Total Factor Productivity, Institutions and Accumulation”. International Journal of Economics and Financial Issues 7 (4): 347-57. https://izlik.org/JA65GA46AU.
EndNote
Pipitone V, Seta L (December 1, 2017) A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation. International Journal of Economics and Financial Issues 7 4 347–357.
IEEE
[1]V. Pipitone and L. Seta, “A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation”, IJEFI, vol. 7, no. 4, pp. 347–357, Dec. 2017, [Online]. Available: https://izlik.org/JA65GA46AU
ISNAD
Pipitone, Vito - Seta, Luciano. “A New Proposal to Model the Relationships Between Total Factor Productivity, Institutions and Accumulation”. International Journal of Economics and Financial Issues 7/4 (December 1, 2017): 347-357. https://izlik.org/JA65GA46AU.
JAMA
1.Pipitone V, Seta L. A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation. IJEFI. 2017;7:347–357.
MLA
Pipitone, Vito, and Luciano Seta. “A New Proposal to Model the Relationships Between Total Factor Productivity, Institutions and Accumulation”. International Journal of Economics and Financial Issues, vol. 7, no. 4, Dec. 2017, pp. 347-5, https://izlik.org/JA65GA46AU.
Vancouver
1.Vito Pipitone, Luciano Seta. A New Proposal to Model the Relationships between Total Factor Productivity, Institutions and Accumulation. IJEFI [Internet]. 2017 Dec. 1;7(4):347-5. Available from: https://izlik.org/JA65GA46AU