We investigate the determinants of TFP growth of Italian manufacturing fi rms. Using stochastic frontier techniques, we consider three approaches to take into account
the influence of external factors, i.e., the determinants of growth. First, external factors may affvect the shape of the technology. Second, they may influence the distance from the frontier.
Third, in a novel approach, the external factors influence the technological progress, that is the shift of the frontier. Using a sample of manufacturing firms in 1998-2003, we find that
the exports, technological investments and spillovers, public infrastructures, and banking efficiency all have a positive evect on TFP growth. We also find that the fi rst model best
fi ts the data.
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