Abstract

This study estimated a ten year (1993-2002) capital stock estimate for the country, for 16 sub-groups included in the TFP studies which are collectively termed as market economy. Capital stocks at current prices and at constant 1985 prices were generated for three (3) types of assets. Market economy is defined as the total economy less that of government services sector and imputed rent on ownership on dwellings. TFP is based on a growth accounting model and estimated using Tornquist index formulation. The 10-year TFP series was generated for 16 sub-groups and can be aggregated into eight major sectors (similar to the major sectors in the existing national accounts series). TFP growth rates for market economy, the private sector, non-financial sector, non-agricultural sector and organized and unorganized sector trends can also be generated. Two types of indices are presented, pair wise indices and the chain-linked indices with 1993 as the reference year.