Total factor productivity growth, technological progress and technical efficiency change: dimensions of productivity change in Yugoslavia, 1965-78.

Abstract

Proposes a method for the decomposition of total factor productivity change into two distinct elements, technical progress and changes in technical efficiency. The analysis indicates that the slow-down in total factor productivity growth in Yugoslavia in the 1970s was a consequence of both a reduction in the rate of technological progress and of a deterioration in technical efficiency with the latter clearly predominating over deteriorating technological progress. -V.S.Mead