Totalfaktorproduktivität

Total Factor Productivity (TFP) is an economic concept that measures the efficiency with which inputs are used in the production process. It represents the portion of output growth that cannot be explained by the growth in traditional inputs such as labor and capital. In essence, TFP captures improvements in the productivity of these inputs.

TFP is often viewed as a proxy for technological progress, innovation, organizational improvements, and better management practices. When TFP increases, it means that more output can be produced with the same amount of labor and capital, or the same amount of output can be produced with fewer inputs. This leads to economic growth without requiring a proportional increase in the factors of production.

Economists use TFP to analyze the sources of economic growth and to understand why some economies grow faster than others. Changes in TFP can be influenced by various factors, including investments in research and development, education and training of the workforce, infrastructure development, and institutional reforms that foster a more efficient business environment. Measuring TFP accurately is challenging, as it is a residual and difficult to quantify directly. However, its concept is crucial for understanding long-term economic prosperity and competitiveness.