engleski

Export and total factor productivity of EU new member states

The common denominator of the European Union’s (EU) strategic long-run documentsis the role of total factor productivity in fostering future growth and competitiveness. Hence, thisarticle analyses the impact of total factor productivity on export competitiveness in EU new memberstates (NMS). As opposed to the stagnation of the growth of total factor productivity in the advancedeconomies, EU NMS exhibited stronger growth that was interrupted due to the 2008 economic andfinancial crisis. After the crisis, the growth continued but it was not as strong as before. The results ofthe empirical analysis confirm the vital role of total factor productivity for the export competitiveness ofthe EU NMS. However, the results also point to the fact that the impact of total factor productivity onexport competitiveness is not that beneficial in the countries where the value of total factor productivityhas not returned to the pre–crisis level

dynamic panel models ; EU new members ; export competitiveness ; total factor productivity

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