kokonaistekijätuottavuus

Kokonaistekijätuottavuus, often abbreviated as TFP, is a measure of economic efficiency. It represents the portion of output growth that is not attributable to the growth of traditional inputs like labor and capital. In simpler terms, TFP captures improvements in how effectively a nation or industry uses its existing resources to produce goods and services.

The concept of TFP acknowledges that technological advancements, organizational improvements, better management practices, economies of scale, and increased human capital can all lead to higher output without necessarily increasing the quantity of labor or machinery employed. For instance, a company that adopts a new, more efficient production process or invests in training its workforce to be more skilled might see its output rise even if its number of employees and its physical capital remain the same. This increase in output, not explained by input growth, is attributed to TFP.

Economists use TFP as a key indicator of a country's long-term growth potential and its ability to innovate and adapt. A rising TFP suggests a dynamic economy that is becoming more productive over time. Conversely, stagnant or declining TFP can signal underlying issues with innovation, investment in research and development, or the adoption of new technologies and management techniques. Measuring TFP is complex and often involves statistical methods to isolate its impact from other factors influencing economic growth.