Entrepreneurship culture, total factor productivity growth and technical progress: patterns of convergence towards the technological frontier
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01/10/2014Estado
info:eu-repo/semantics/publishedVersionMetadatos
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A firm's set of knowledge processes may be affected by the entrepreneurial culture of the country in which it is located. Total factor productivity, mainly associated with technical progress, accounts for most differences over time and across countries. In the present work we examine the determinants of total factor productivity growth in 26 OECD countries between 1965 and 2010, breaking them down into changes in technical efficiency and shifts in technology over time. Using the US as the technology frontier, different patterns of productivity growth emerge between world technology leaders and countries with low initial levels of productivity. Whereas changes in efficiency seem to be the main result of the evolution in the stock of knowledge in technologically dependent economies, suggesting that less advanced economies can benefit from their relative backwardness, domestic research effort appears to be a relevant factor for technology leaders. A firm's set of knowledge processes may be affected by the entrepreneurial culture of the country in which it is located. Total factor productivity, mainly associated with technical progress, accounts for most differences over time and across countries. In the present work we examine the determinants of total factor productivity growth in 26 OECD countries between 1965 and 2010, breaking them down into changes in technical efficiency and shifts in technology over time. Using the US as the technology frontier, different patterns of productivity growth emerge between world technology leaders and countries with low initial levels of productivity. Whereas changes in efficiency seem to be the main result of the evolution in the stock of knowledge in technologically dependent economies, suggesting that less advanced economies can benefit from their relative backwardness, domestic research effort appears to be a relevant factor for technology leaders.
Entrepreneurship culture, total factor productivity growth and technical progress: patterns of convergence towards the technological frontier
Tipo de Actividad
Artículos en revistasISSN
0040-1625Palabras Clave
Patterns of productivity growth; Technical progress; Technology frontier; Stock of knowledge; Panel data methods; EntrepreneurshipPatterns of productivity growth; Technical progress; Technology frontier; Stock of knowledge; Panel data methods; Entrepreneurship