Total factor productivity and macroeconomic instability

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Berument H., Dinçer N. N., Mustafaoglu Z.

JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT, cilt.20, sa.5, ss.605-629, 2011 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 20 Sayı: 5
  • Basım Tarihi: 2011
  • Doi Numarası: 10.1080/09638190903365930
  • Dergi Adı: JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.605-629
  • Anahtar Kelimeler: macroeconomic instability, TFP growth, VAR-GARCH models, INFLATION UNCERTAINTY, TIME-SERIES, GROWTH, INVESTMENT, EVOLUTION, OPENNESS, ECONOMY, TRADE
  • TED Üniversitesi Adresli: Hayır

Özet

Total factor productivity (TFP) is an important component of growth for most countries. This article assesses the role of macroeconomic instability on TFP growth. We consider volatility in inflation, openness of an economy and financial market deepness as measures of macroeconomic instability. Empirical evidence provided from Turkey suggests that volatility of openness and financial market deepness reduce TFP growth, whereas volatility of inflation increases TFP growth.