Proceedings of the 7th International Conference on Applied Research in Business, Management and Economics
Year: 2024
DOI:
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Evaluating Total Factor Productivity and Gross Value-Added Dynamics Across Central European Regions: A Comparative Analysis
Ramil Namazov
ABSTRACT:
In this study, Total Factor Productivity (TFP) and Gross Value Added (GVA) data were obtained from the Eurostat and used to assess the economic performance of regions in seven different countries. Seven countries were selected for analysis: Belgium, Austria, Czech Republic, Germany, Hungary and Slovakia. In each country, the three most successful regions in terms of GVA for 2019 were selected accordingly, and the economic performance of these regions in 2018 and 2019 was analyzed for comparison. The main purpose of the study is to compare the TFP level, TFP growth and GVA change from 2018 to 2019 and find the relationship between them to see whether regions have high TFP growth in the meantime. For NUTS 2 regions, Total Factor Productivity (TFP) data from 2019 and Gross Value Added (GVA) data from 2018 and 2019 were obtained from Eurostat. From each country, three top regions with the largest GVA in 2019 were selected. This study, which finds correlations between TFP growth rates and GVA change, will contribute to a better understanding of productivity differences between regions and countries. The results of this study will be used in the comparative analysis of economic performance between European regions and will allow a detailed understanding of the economic development and trends of the regions.
keywords: Total factor productivity, Gross Value-Added, economics, growth