The contribution of knowledge capital on total factor productivity: The case of the Philippines
Total Factor Productivity has been a long sought topic in the study of economic growth. From classical growth theory to endogenous growth theory, the role of TFP has been further emphasized. However, the specifics on how TFP affects the productivity of production still remains a question. In this pa...
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| Format: | text |
| Language: | English |
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Animo Repository
2020
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| Online Access: | https://animorepository.dlsu.edu.ph/etd_masteral/5971 https://animorepository.dlsu.edu.ph/context/etd_masteral/article/13055/viewcontent/Won_Sunyoung_Edited.pdf |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | Total Factor Productivity has been a long sought topic in the study of economic growth. From classical growth theory to endogenous growth theory, the role of TFP has been further emphasized. However, the specifics on how TFP affects the productivity of production still remains a question. In this paper, we specifically look into vertical growth wherein innovation works as the key to increase in productivity in an input-output economy wherein there is a clear distinction between final goods and intermediate goods. We formulate a modified endogenous growth that explicitly reflects how innovation increases productivity and potential spillover effects it may have on labor. After tracing the role of innovation, the study is complemented by the empirical testing of the TFP model as a function of patents, the proxy for innovation, human capital, and researchers. The resulting values are found to agree with the characteristics of the modified endogenous growth model |
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