Open AccessContribution of TFP to economic growth of Dong Thap province: Current status and scenarios for the period 2021 - 2025
Author(s) -
Dang Hoang Minh Quan,
Nguyen Kim Phuoc
Publication year - 2021
Publication title -
ho chi minh city open university journal of science- economics and business administration
Language(s) - English
Resource type - Journals
ISSN - 2734-9586
DOI - 10.46223/hcmcoujs.econ.en.11.2.1461.2021
Subject(s) - total factor productivity , productivity , economics , capital (architecture) , demographic economics , agricultural economics , economic growth , geography , archaeology
The study aims to analyze the contribution of Total Factor Productivity (TFP) in Dong Thap ’province’s economic growth using the Cobb-Douglas production function method, based on the data from 2000 - 2020. The study results show that the contribution of capital (ε_K) is 0.3524, the contribution of labor (ε_L) is 0.6476. Dong Thap province’s average TFP growth rate in each period of 05 years 2011 - 2015 and 2016 - 2020 is 2.31% per year and 1.93% per year, respectively, and ’TFP’s contribution to economic growth is 34.51% and 30.01%, respectively. Based on the status analysis of the period 2011 - 2015 and 2016 - 2020, the study proposes four growth scenarios associated with four productivity orientations for Dong Thap province in 2021 - 2025. This ’study’s results are the basis for organizational policies and orientations for socio-economic development, proposing provincial development guidelines and plans to 2025, oriented to 2030.