This article opens the black box of total factor productivity by decomposing this “all‐in‐one” index into various input‐embedded and input‐free productivities in a new growth accounting framework. The new method identifies different channels through which growth drivers affect economic growth and finds the most effective way to boost the economy, which is unidentified in standard method. This new approach uses a varying coefficient stochastic frontier model, which integrates the standpoints of the endogenous growth theory and the induced innovation theory into a reduced‐form productivity analysis. The new growth accounting is then applied to study the impacts and contributions of R&D investments, international trade, and structural transformation to world agricultural growth during the period of 1962 to 2014. The empirical results provide new evidence to support the endogenous growth theory and the induced innovation theory, indicating the necessity of using the new growth accounting method.

中文翻译：

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新增长会计

本文通过在新的增长核算框架中将这一“一体化”指数分解为各种投入嵌入和无投入的生产率，打开了全要素生产率的黑匣子。新方法识别了增长驱动因素影响经济增长的不同渠道，并找到了最有效的刺激经济方式，这在标准方法中是未确定的。这种新方法使用变系数随机前沿模型，将内生增长理论和诱导创新理论的观点整合到简化形式的生产力分析中。然后应用新的增长核算来研究 1962 年至 2014 年期间研发投资、国际贸易和结构转型对世界农业增长的影响和贡献。