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Total Factor Productivity in the UK: A Disaggregated Analysis

In: The Measurement of Capital

Author

Listed:
  • William Peterson

    (Cambridge University)

Abstract

This paper presents a set of estimates of the growth of total factor productivity for the United Kingdom during the period 1954–68. The growth of total factor productivity is defined as the difference between the growth rate of final output and that of a suitably weighted combination of productive inputs, both evaluated at constant prices: this difference, or ‘residual’ (Denison, 1967), can thus be thought of as showing the contribution of unidentified variables, such as economies of scale and advances in technical knowledge, to the process of economic growth. The estimates to be presented in this paper are for 35 distinct industries, covering the whole of the productive sector of the UK economy: government and non-profit making bodies such as charities have been excluded. The aim is to evaluate the contribution which each of these industries has made to the overall growth of productivity, using the information provided by a series of input-output tables to ensure that indirect effects of technical advance, through the provision of cheaper inputs to other industries, are taken into account. Thus the paper can be regarded as complementary to the large body of work, surveyed by Nadiri (1970, 1972), which has attempted to evaluate the aggregate contribution of factors such as the improved design of plant or the spread of higher education. A second aim is to assess the contribution of capital accumulation to technical advance.

Suggested Citation

  • William Peterson, 1979. "Total Factor Productivity in the UK: A Disaggregated Analysis," Palgrave Macmillan Books, in: K. D. Patterson & Kerry Schott (ed.), The Measurement of Capital, chapter 8, pages 212-225, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-04127-5_9
    DOI: 10.1007/978-1-349-04127-5_9
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    Citations

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    Cited by:

    1. Oscar De Juan & Eladio Febrero, 2000. "Measuring Productivity from Vertically Integrated Sectors," Economic Systems Research, Taylor & Francis Journals, vol. 12(1), pages 65-82.
    2. Ten Raa, T. & Shestalova, V., 2006. "Alternative Measures of Total Factor Productivity Growth," Other publications TiSEM 5366de12-2381-4ed8-859b-f, Tilburg University, School of Economics and Management.
    3. Sanchez Choliz, Julio & Duarte, Rosa, 2006. "The effect of structural change on the self-reliance and interdependence of aggregate sectors: the case of Spain, 1980-1994," Structural Change and Economic Dynamics, Elsevier, vol. 17(1), pages 27-45, January.
    4. Malcolm Abbott, 2018. "Productivity: a history of its measurement," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2018(1), pages 57-80.
    5. Yu Song & Chunlu Liu & Craig Langston, 2006. "Extending construction linkage measures by the consideration of the impact of capital," Construction Management and Economics, Taylor & Francis Journals, vol. 24(11), pages 1207-1216.
    6. Correa, Lisa, 2006. "The economic impact of telecommunications diffusion on UK productivity growth," Information Economics and Policy, Elsevier, vol. 18(4), pages 385-404, November.
    7. Wirkierman, Ariel Luis, 2023. "Structural economic dynamics in actual industrial economies," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 245-262.
    8. López, Xesús Pereira & de la Torre Cuevas, Fernando, 2023. "An alternative for tracing the path between supply and use tables in current and constant prices," Structural Change and Economic Dynamics, Elsevier, vol. 67(C), pages 293-302.

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