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Growth Accounting And Productivity Measurement

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  • J. R. Norsworthy

Abstract

This paper compares the growth accounting approaches to aggregate productivity measurement and analysis of three major researchers: E. F. Denison, D. W. Jorgenson, and J. W. Kendrick. The investigetors are compared in terms of their treatment of a number of crucial elements, including measurement of output and of capital and labor inputs (including composition or quality changes), total factor productivity growth, economies of scale, and intensity of demand (for output). Judged by the standard of the neoclassical economic theory of production‐the only generally accepted basis for input aggregation‐Denison departs significantly from the production theory framework in his measurement of output and capital input, Kendrick to some degree in his measure of capital input, and Jorgenson not at all. The effects of these departures are illustrated with reference to the recent productivity slowdown. The probable near‐term future utility of growth accounting methods for productivity analysis is assessed, and some related econometric modeling issues are noted.

Suggested Citation

  • J. R. Norsworthy, 1984. "Growth Accounting And Productivity Measurement," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 30(3), pages 309-329, September.
    • Handle: RePEc:bla:revinw:v:30:y:1984:i:3:p:309-329
    DOI: 10.1111/j.1475-4991.1984.tb00554.x
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    Cited by:

    1. Jakir Hussain & Jean-Thomas Bernard, 2016. "Flexible Functional Forms and Curvature Conditions: Parametric Productivity Estimation in Canadian and U.S. Manufacturing Industries," Working Papers 1612e, University of Ottawa, Department of Economics.
    2. Binlei Gong & Robin C. Sickles, 2020. "Non-structural and structural models in productivity analysis: study of the British Isles during the 2007–2009 financial crisis," Journal of Productivity Analysis, Springer, vol. 53(2), pages 243-263, April.
    3. Zafar Mahmood & Rehana Siddiqui, 2000. "State of Technology and Productivity in Pakistan’s Manufacturing Industries: Some Strategic Directions to Build Technological Competence," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 39(1), pages 1-21.
    4. Thirtle, Colin, 1986. "Problems in the Definition and Measurement of Technical Change and Productivity Growth in the U.K. Agricultural Sector," Manchester Working Papers in Agricultural Economics 232790, University of Manchester, School of Economics, Agricultural Economics Department.

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