Total Factor Productivity and Macroeconomic Instability
Dincer, N. Nergiz
Please cite this item using this persistent URLhttp://hdl.handle.net/11693/12262
Journal of International Trade and Economic Development
- Department of Economics 
Taylor & Francis
Total factor productivity (TFP) is an important component of growth for most countries. This article assesses the role of macroeconomic instability on TFP growth. We consider volatility in inflation, openness of an economy and financial market deepness as measures of macroeconomic instability. Empirical evidence provided from Turkey suggests that volatility of openness and financial market deepness reduce TFP growth, whereas volatility of inflation increases TFP growth.
Berument, H., Dincer, N. N., & Mustafaoglu, Z. (2011). Total factor productivity and macroeconomic instability. The Journal of International Trade & Economic Development, 20(5), 605-629.