An approach to assessing the quality of growth using total factor productivity
Abstract
In recent years, the Vietnam National Oil and Gas Group has rapidly grown into a leading economic group and made important contributions to the country’s industrialisation and modernisation process. Petrovietnam recorded an aver- age revenue growth rate of over 16% a year during the 2005 - 2015 period. To have a deeper and more comprehensive perspective on the growth rate and development of Petrovietnam in recent years, analysis and assessment of the quality of growth are also needed beside the figures on growth rate. Total Factor Productivity (TFP) is one of the methods current- ly used by many countries in the world to analyse and evaluate the quality of growth of a country, an industry or a sector.
The article provides an overview of TFP and its contribution to Vietnam’s GDP in recent years, and suggests possible application of the TFP approach to assess the quality of growth of the Vietnamese National Oil and Gas Group during the 2005 - 2015 period in order to facilitate corporate governance.
References
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