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Total Factor Productivity in The Colombian Manufacturing Industry

The purpose of the paper is to measure and to analyze total factor productivity -- TFP -- growth in the Colombian manufacturing industry over the period 1985-2007. During this period, specifically from the early 90s, Colombia applied several policy actions aiming at increasing trade openness of its economy. Thus, it is possible to analyze performance of several subsectors of the Colombian manufacturing industry before and after trade liberalization. TFP growth is measured by using Harberger’s Two-Deflator Method, whose main characteristic is that although it is a robust method, is not difficult to use, and the amount of data needed for calculations is easier to handle with, compared with traditional methods. The results of the paper show that manufacturing productivity was higher after the trade liberalization process was largely consolidated.