Total Factor Productivity Estimation in Peru: Primal and Dual Approaches

  • Nikita Céspedes Banco Central de Reserva del Perú
  • Nelson Ramírez-Rondán Banco Central de Reserva del Perú
Keywords: productivity, primal, dual, Peru, Solow residual

Abstract

In this paper we estimate total factor productivity (TFP) growth for the Peruvian economy usingthe primal and dual methods for the period 2003-2012. According to the primal method, a procedure that uses the Solow residual as an indicator of productivity, TFP grew at an average annual rate of 1.6%, adjusted for the quality and usage of the factors of production. According to the dual method, a procedure that considers estimations of the marginal productivities of the factors of production, TFP grew at an annual rate of 1.7%.

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How to Cite
Céspedes, N., & Ramírez-Rondán, N. (2014). Total Factor Productivity Estimation in Peru: Primal and Dual Approaches. Economia, 37(73), 9-29. Retrieved from https://revistas.pucp.edu.pe/index.php/economia/article/view/10082