Contribution of TFP to economic growth of Dong Thap province: Current status and scenarios for the period 2021 - 2025

Authors

  • Dang Hoang Minh Quan
    Hoa Sen University, Viet Nam
  • Nguyen Kim Phuoc
    Ho Chi Minh city Open University, Viet Nam

DOI:

10.46223/HCMCOUJS.econ.en.11.2.1461.2021

Keywords:

Dong Thap province; economic growth; TFP; total factor productivity

Abstract

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.

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References

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Received: 26-02-2021
Accepted: 25-05-2021
Published: 14-08-2021

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How to Cite

Quan, D. H. M., & Phuoc, N. K. (2021). Contribution of TFP to economic growth of Dong Thap province: Current status and scenarios for the period 2021 - 2025. HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, 11(2), 53–66. https://doi.org/10.46223/HCMCOUJS.econ.en.11.2.1461.2021

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Copyright (c) 2021 Dang Hoang Minh Quan; Nguyen Kim Phuoc

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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.