{"product_id":"sources-of-economic-growth-von-arzu-alvan","title":"Sources of Economic Growth","description":"\u003cp\u003eThe Two-Deflator Growth Accounting Approach (TDA)is  a new methodology that is based on the theory of  capital, not on the theory of production as in the  traditional growth accounting approaches. It is  superior to the traditional approach in many ways.  The measurement of growth at the disaggregated level  can resolve many macroeconomic issues which are not  possible in an aggregated framework. There are three  main outcomes of this study; first, human capital  quality upgrade contribution to labor growth is  separated successfully by the TDA and it is  negatively correlated to TFP growth; second, value  added growth is mainly explained by the growth of  capital stock and TFP growth; and third, TFP growth  is not homogeneous and may occur in any  industry\/firm at any time. The contribution of raw  labor in value added growth in public manufacturing  industries is more significant than the maintenance  and quality upgrade components of human capital. It  is observed that the productivity growth of public  labor is lower than in the private sector.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838361796\"\u003e\u003ch3\u003eThe Two-Deflator Growth Accounting Approach\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783838361796","offer_id":39469142311005,"sku":"9783838361796","price":79.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/168272e3-35cd-4c55-81d2-bdef012ecb16.jpg?v=1737266593","url":"https:\/\/shop.autorenwelt.de\/products\/sources-of-economic-growth-von-arzu-alvan","provider":"Autorenwelt Shop","version":"1.0","type":"link"}