THE CONTRIBUTION OF TOTAL FACTOR PRODUCTIVITY TO ECONOMIC GROWTH IN CA MAU PROVINCE DURING THE PERIOD 2005 – 2022

Abstract

The objective of the study is to analyze the contribution of total factor productivity to the economic growth of Ca Mau province using the Cobb-Douglas production function estimation method, based on a time series dataset for the period 2005-2022. The research results show that the capital contribution coefficient (α) was 0.68, and the labor contribution coefficient (β) was 0.32. The average total factor productivity growth rate of Ca Mau province during the periods 2005-2010, 2011-2016, and 2017-2022 were -27.64% per year, 20.17% per year, and -4.09% per year, respectively. The contribution of TFP to the economic growth of Ca Mau province was -214.45%, 87.35%, and -220.78%, respectively. These results reflect the unstable growth rate of total factor productivity and its low and unsustainable contribution to economic growth in Ca Mau province. Based on these findings, the article proposes several policy suggestions to enhance the development of total factor productivity and its contribution to economic growth in Ca Mau province.