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Total factor productivity can be described as a measure of the intensity and efficiency of all inputs used in the production process. Total factor productivity which indicates the level of knowledge, innovation and technology of production, is one of the most important factors determining the economic growth rates, prosperity levels and the global competitiveness. In this study covering the years 1991-2016, it was aimed to measure of the decisive inputs to growth in GDP in Turkey by using Cobb-Douglass production function. The findings obtained by the least squares method analysis reveal that the most important determinant of the growth rate in Turkey is the increase in the amount of capital in Turkey. At the same time, total factor productivity has a positive impact on economic growth.
Total factor productivity can be described as a measure of the intensity and efficiency of all inputs used in the production process. Total productivity factor which indicates the level of knowledge, innovation and technology of production, is one of the most important factors determining the economic growth rates, prosperity levels and the global competitiveness. In this study covering the years 1991-2016, it was aimed to measure the decisive inputs to growth in GDP in Turkey by using Cobb-Douglass production function. The findings obtained by the least squares method analysis reveals that the most important determinant of the growth rate in Turkey is the increase in the amount of capital in Turkey. At the same time, total factor productivity has a positive impact on economic growth.
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