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@article{ Mishra2010, title = {A Bayesian analysis of total factor productivity persistence}, author = {Mishra, Tapas and Diebolt, Claude and Parhi, Mamata and Mohanty, Asit Ranjan}, journal = {Historical Social Research}, number = {1}, pages = {363-372}, volume = {35}, year = {2010}, issn = {0172-6404}, doi = {https://doi.org/10.12759/hsr.35.2010.1.363-372}, urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-285467}, abstract = {'This paper studies persistence properties of total factor productivity (TFP) from Bayesian perspective. Emphasizing that classical unit root test for TFP cannot determine the probability whether a stochastic shock to the series is permanent, we design a Bayesian unit root test for TFP. Examination for a set of African economies' TFP data show that the probability of having a unit root is very high for majority of countries. The evidence of high-persistence has implications for perpetual growth and business cycles.' (author's abstract)}, keywords = {productivity; economic growth; Produktionsfaktor; Wachstum; growth; Innovation; innovation; Bayes-Statistik; Produktivität; production factor; Wirtschaftswachstum; Africa; persistence; Bayesian statistics; Afrika; Persistenz}}