Total Factor Productivity
Total Factor Productivity latest publications
Since the beginning of the recovery, GDP growth in Spain (2.6% per year) has been one of the highest among the large developed economies and consistently higher than that seen for the EMU as a whole (1.8%), but is this a valid and sustainable point of reference for the coming years?
The New Digital Economy (mobile internet and cloud use) has the potential to transform the way in which SMEs combine capital and labor to obtain improvements in productivity levels, so that size could no longer be a limitation under this scenario.
In the recently concluded 19th Party’s National Congress, the authorities have come up with a two-stage development plan. Using traditional Cobb-Douglas production function to gauge China’s potential GDP, we found China’s per capita GDP can increase to USD 21,000 (constant price of today) by 2035, in line with the authoriti…