TFP determinants in European Union member states in 2000-2014 in the light of panel study results

Abstract

The aim of the article is to examine, whether and to what extent disparities in TFP levels in the group of 27 member states of the European Union in the period 2000–2014 are the result of difference in factors determining them. In the light of the conducted panel data analysis, the countries of the EU-15 group with higher levels of TFP differ from the „new” EU countries in terms of determinants of TFP. In the first group of countries the key role in shaping TFP play human capital resources, in the second group – the degree of involvement in international exchange. Human skills and qualifications are found to be completely irrelevant determinants of TFP levels in the „new” EU members states.