English

Vol. 8 3, 2018 p 338-351

Pages

Article name, authors, abstract and keyword

338-351

Prerequisites for the formation and characteristics of total factor productivity as a tool for evaluation of effectiveness of resource-constrained economic systems

Pavel Y. Serikov a, Alexander O. Buchnev a

a Transneft, 57 Bolshaya Polyanka Str., Moscow, 119180, Russian Federation

DOI: 10.28999/2541-9595-2018-8-3-338-351

Abstract: One of the most relevant tasks of economic theory is to determine the conditions of sustainable economic growth. In conditions of increasing resource constraints, it is very important to use productivity factors on a maximum level of their effectiveness and consider multiplicative effect of their stimulation. For this reason, the assessment of total factor productivity (TFP) has become a universal tool for analyzing the efficiency of economic systems and benchmarking. This article is devoted to the explanation of the economic substance of the TFP and the possibilities of its application at macro and micro levels. In addition, it consists approaches to management of this indicator and the concept of human capital as the main component of sustainable economic growth.

Keywords: total factor productivity, multiplicative effect, human capital, Solow residual, accelerator theory, sustainable growth, capital, labor.

For citing:
Serikov P. Y., Buchnev A. O. Prerequisites for the formation and characteristics of total factor productivity as a tool for evaluation of effectiveness of resource-constrained economic systems. Nauka i tehnologii truboprovodnogo transporta nefti i nefteproduktov = Science & Technologies: Oil and Oil Products Pipeline Transportation. 2018;8(3):338351. DOI: 10.28999/2541-9595-2018-8-3-338351.

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