totalfaktorproduktivitet

Totalfaktorproduktivitet (TFP) is a concept in growth accounting that measures the part of output growth not explained by the growth of inputs such as capital and labor. It captures improvements in technology, efficiency, and organizational practices that allow more output from the same input mix. In many models it represents the aggregate efficiency of the economy, including innovation, knowledge spillovers, and institutional quality.

In a typical production framework, output Y is a function of capital K and labor L, with Y = A K^α L^(1−α), where A denotes total factor productivity. Growth accounting decomposes the growth rate of output into contributions from capital, labor, and A. The remaining term, after accounting for input growth, is the Solow residual, often interpreted as the growth rate of TFP: g_Y − α g_K − (1−α) g_L.

Determinants of TFP include technological progress, research and development, human capital, and the efficiency of resource allocation. Organizational changes, scale effects, competition, infrastructure, and institutions also influence TFP. Variation in TFP explains why countries with similar input growth can have different long-run output levels and growth rates.

Limitations exist: TFP is not directly observable and depends on how inputs and outputs are measured. It can be affected by measurement error, capital stock estimation, price distortions, and the treatment of intangible assets such as software, knowledge, and quality improvements. Consequently, comparisons of TFP across countries or over time require careful data handling and consistent methodology.

TFP is central to understanding long-run economic growth and living standards. It is a key focus in endogenous growth theories that emphasize knowledge spillovers and innovation as drivers of sustained productivity improvements.