Table 4. Nonparametric total factor productivity (TFP) indices for
the years 1995 and 1997. Given a base year of 1990,
the nonparametric TFP index for 1995 measures the relative
shift in the production function in 1995 when compared to
1990. Therefore, the 1995 TFP index measures the
proportionately higher output produced in 1995 than in 1990 due
to technological improvement, keeping the amount of
effective inputs identical in both years. Similar interpretation
is applicable for the 1997 TFP index.
|
