Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis
When it comes to measure the sources of growth and draw economic policy conclusions, economists rely on growth accounting. According to this approach, per capita growth is explained by two sources: capital accumulation and total factor productivity. Our contention is that growth accounting suffers f...
Guardado en:
| Autor principal: | |
|---|---|
| Formato: | Objeto de conferencia |
| Lenguaje: | Inglés |
| Publicado: |
2000
|
| Materias: | |
| Acceso en línea: | http://sedici.unlp.edu.ar/handle/10915/170441 |
| Aporte de: |
| id |
I19-R120-10915-170441 |
|---|---|
| record_format |
dspace |
| spelling |
I19-R120-10915-1704412024-09-20T20:44:01Z http://sedici.unlp.edu.ar/handle/10915/170441 Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis Bebczuk, Ricardo Néstor 2000 2000 2024-09-20T16:07:28Z en Ciencias Económicas confirmatory factor analysis sources of growth When it comes to measure the sources of growth and draw economic policy conclusions, economists rely on growth accounting. According to this approach, per capita growth is explained by two sources: capital accumulation and total factor productivity. Our contention is that growth accounting suffers from serious pitfalls once we take into account that: (i) Total factor productivity and investment are not independent of each other, and (ii) Total factor productivity is badly measured. The result is that the sources of growth are directly unobservable, undermining any conclusion based on available measures. To partially overcome these problems, we introduce a technique especially designed to deal with unobservable, or latent variables, called confirmatory factor analysis. We examine both the relationship between fourteen variables correlated to the growth rate and two latent variables: the “saving channel” and the “productivity channel”, and the correlation between the latter. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf |
| institution |
Universidad Nacional de La Plata |
| institution_str |
I-19 |
| repository_str |
R-120 |
| collection |
SEDICI (UNLP) |
| language |
Inglés |
| topic |
Ciencias Económicas confirmatory factor analysis sources of growth |
| spellingShingle |
Ciencias Económicas confirmatory factor analysis sources of growth Bebczuk, Ricardo Néstor Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| topic_facet |
Ciencias Económicas confirmatory factor analysis sources of growth |
| description |
When it comes to measure the sources of growth and draw economic policy conclusions, economists rely on growth accounting. According to this approach, per capita growth is explained by two sources: capital accumulation and total factor productivity. Our contention is that growth accounting suffers from serious pitfalls once we take into account that: (i) Total factor productivity and investment are not independent of each other, and (ii) Total factor productivity is badly measured. The result is that the sources of growth are directly unobservable, undermining any conclusion based on available measures.
To partially overcome these problems, we introduce a technique especially designed to deal with unobservable, or latent variables, called confirmatory factor analysis. We examine both the relationship between fourteen variables correlated to the growth rate and two latent variables: the “saving channel” and the “productivity channel”, and the correlation between the latter. |
| format |
Objeto de conferencia Objeto de conferencia |
| author |
Bebczuk, Ricardo Néstor |
| author_facet |
Bebczuk, Ricardo Néstor |
| author_sort |
Bebczuk, Ricardo Néstor |
| title |
Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| title_short |
Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| title_full |
Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| title_fullStr |
Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| title_full_unstemmed |
Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| title_sort |
productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis |
| publishDate |
2000 |
| url |
http://sedici.unlp.edu.ar/handle/10915/170441 |
| work_keys_str_mv |
AT bebczukricardonestor productivityandsavingchannelsofeconomicgrowthaslatentvariablesanapplicationofconfirmatoryfactoranalysis |
| _version_ |
1824075656447655936 |