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Author : Jens-Uwe Wächter
Publisher :
ISBN 13 :
Total Pages : 224 pages
Book Rating : 4.:/5 (418 download)
Download or read book Three Essays on Efficiency, Productivity, and Economic Growth written by Jens-Uwe Wächter and published by . This book was released on 1998 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark J. Lasky
Publisher : Routledge
ISBN 13 : 1317502523
Total Pages : 190 pages
Book Rating : 4.3/5 (175 download)
Download or read book Three Essays on Productivity (RLE: Business Cycles) written by Mark J. Lasky and published by Routledge. This book was released on 2015-03-27 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exogenous to labour and capital.
Author : Tang-Chih Lee
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (654 download)
Download or read book Three Essays on Investment-specific Technical Change and Economic Growth written by Tang-Chih Lee and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This dissertation investigates the relation between investment-specific technical change and long-run economic growth. The first essay points out the discrepancy between the steady state growth theorem and recent economic growth driven by information technology. Previous study finds that investment-specific technological progress accounts for 58% of economic growth in the U.S. However, their result hinges on the assumption of the Cobb-Douglas production function. This paper employs the CES production function to investigate the effect of investment-specific technological progress on long-run economic growth. In the steady state, quality improvement in each vintage is directed to expand more functions in one machine, resulting in contraction in the types of capital. The offsetting effect between quality and variety implies that the relative capital income share is constant in the steady state. Empirical tests for the U.S. data show that investment-specific technological progress does not generate long-run economic growth. The elasticity of substitution is significantly less than one, and that there is an offsetting effect to investment-specific technological progress. The second essay investigates the quality changes in capital and labor inputs across 46 industries from 1968 to 2001. We incorporate a time-varying quality measure to the efficiency units of capital. The result indicates that the average quality of capital assets over time has improved 46 percent in the cross industry average. The quality improvement effect accounts for 30 percent in the total growth of the efficiency units of capital. Although the net quantity effect is still the largest component in the growth of the efficiency units of capital, there is significant substitution among different vintages and asset types as well. The average quality growth in the efficiency units of labor is 17 percent. The third essay investigates unbalanced growth facts and their implications for existing growth theory. We find that the balanced growth implication is consistent with data for the United States at the national aggregate level, but not at a more disaggregate level and internationally. Among the various unbalanced growth facts, the increases in the depreciation rates of equipment and of aggregate capital have the most significant impact on the growth theory. Under the Cobb-Douglas framework, an increasing depreciation rate of equipment can result in rising, constant, or declining rate of return of equipment, depending on the magnitude of the decreasing net marginal product effect and the capital loss effect.
Author : Siwook Lee
Publisher :
ISBN 13 :
Total Pages : 258 pages
Book Rating : 4.3/5 (91 download)
Download or read book Three Essays on International Trade and Productivity written by Siwook Lee and published by . This book was released on 2005 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mohammad Zaher
Publisher :
ISBN 13 :
Total Pages : 234 pages
Book Rating : 4.:/5 (563 download)
Download or read book Three Essays in Productive Efficiency and Productivity in the Middle East and North Africa Region written by Mohammad Zaher and published by . This book was released on 2004 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : J. McCombie
Publisher : Springer
ISBN 13 : 023050423X
Total Pages : 293 pages
Book Rating : 4.2/5 (35 download)
Download or read book Productivity Growth and Economic Performance written by J. McCombie and published by Springer. This book was released on 2002-12-17 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays on Verdoorn's Law - the relationship between the growth of industrial productivity and output - presents a number of comprehensive surveys and assessments of the vast literature available. The collection not only includes an English translation of Verdoorn's seminal article originally published in Italian, but also new empirical evidence for the Verdoorn Law and new developments in the theoretical modelling of cumulative causation.
Author : Eric Jan Bartelsman
Publisher :
ISBN 13 :
Total Pages : 214 pages
Book Rating : 4.:/5 (612 download)
Download or read book Three Essays on Productivity Growth written by Eric Jan Bartelsman and published by . This book was released on 1991 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rolf Färe
Publisher : Springer
ISBN 13 : 9780387249636
Total Pages : 174 pages
Book Rating : 4.2/5 (496 download)
Download or read book New Directions written by Rolf Färe and published by Springer. This book was released on 2005-05-04 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: The format of this monograph is three essays, which we arrived at after spending a year writing over one hundred pages of what we even tually realized was a tedious reworking of old material. So we started over determined to write something new. At first we thought this approach might not work as a coherent mono graph, which is why we chose the essay format rather than chapters. As it turns out, there is a common thread—namely the directional distance function, which also gave us our title. As you shall see, the directional distance function includes traditional distance functions and efficiency measures as special cases providing a unifying framework for existing productivity and efficiency measures. It is also flexible enough to open up new areas in productivity and efficiency analysis such as environmen tal and aggregation issues. That we did not see this earlier is humbling; a student at a recent conference raised his hand and asked 'Why didn't you start with the directional distance function in the first place? In deed. This manuscript is intended to make up for our earlier oversights. This monograph contains papers coauthored with Wen-Fu Lee and Osman Zaim and one paper written by two former students, Hiroyuki Fukuyama and Bill Weber. We thank them for their contributions. An other former student, Jim Logan (Logi) read and critiqued the manu script for which we are grateful.
Author : Mark J. Lasky
Publisher : Routledge
ISBN 13 : 1317502515
Total Pages : 157 pages
Book Rating : 4.3/5 (175 download)
Download or read book Three Essays on Productivity (RLE: Business Cycles) written by Mark J. Lasky and published by Routledge. This book was released on 2015-03-27 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exogenous to labour and capital.
Author : Chun Kei Tsang
Publisher :
ISBN 13 :
Total Pages : 203 pages
Book Rating : 4.:/5 (119 download)
Download or read book Three Essays on Economic Structure and Resource Allocation written by Chun Kei Tsang and published by . This book was released on 2020 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis aims at studying the issues of economic structure and resource allocation in development. Chapter 1 provides an introduction to economic development and gives an overview of this thesis. Chapter 2 reviews some theories and models about economic structure and structural change and points out that resource allocation is a critical factor in changing the economic structure. Five characteristics of economic structure and structural change are summarized. Essay 1 in Chapter 3 investigates the relationship between competitiveness and economic growth. Adopting the Global Competitiveness Index to represent competitiveness, we empirically show that there is a two-way causal relationship between competitiveness and economic growth. We further identify that the relationship between competitiveness and economic growth change in different development stages. Specifically, better competitiveness can enhance economic growth but not vice versa in developing countries. We therefore relate such a difference to the ability to transform resources into competitiveness. This is fundamentally a question about resource allocation. Finally, we link structural change with economic growth and show that enhancing competitiveness is equivalent to improving the capacity to change the economic structure. Essay 2 in Chapter 4 studies the impacts of sub-optimal resource allocation on economic growth by applying a new model to the case of the effectiveness of official development assistance (ODA). This new model analyzes economic growth through structural change by the difference between the observed and optimal levels of competitiveness. Regarding the positive and negative impacts of foreign aid on the receiving country in the literature, we show that the net impact of ODA depends on the value of bias caused by inefficient allocation of resources and the adoption of a biased value system. As a result, both positive and negative views of ODA in the literature are somewhat correct. In principle, ODA does work in the sense of helping needy countries providing they can allocate such additional resources efficiently. The cruel truth is that most receivers of ODA are unable to transform these resources to productive uses and even lower their economic growth. The development aid country donors or global institutions may therefore have to review their existing policy for granting aid.Essay 3 in Chapter 5 introduces a new framework to study two important structural issues in China: regional fragmentation and ownership distortion. We extend the output-oriented structural efficiency measure to include subgroups to evaluate potential gains of improving resource allocation within and among subgroups. The new framework is then applied to China’s industrial sector. Applying our new method for policymaking, the empirical results advocate prioritizing ownership reform over regional reform in China. Specifically, by improving resource allocation among different ownerships, outputs of the whole industrial sector can be increased by 21% of the observed level. In contrast, the potential gains of reallocating resources between western and non-western regions are less than 1%. Such a conclusion cannot be drawn from other existing models of efficiency analysis. Finally, Chapter 6 concludes the whole thesis.
Author : Te-Fen Lo
Publisher :
ISBN 13 :
Total Pages : 294 pages
Book Rating : 4.3/5 (129 download)
Download or read book Three Essays in Applied Economics written by Te-Fen Lo and published by . This book was released on 2000 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pilhyun Kim
Publisher :
ISBN 13 :
Total Pages : 125 pages
Book Rating : 4.:/5 (71 download)
Download or read book Three Essays on Financial Development and Economic Growth written by Pilhyun Kim and published by . This book was released on 2006 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The primary part of my dissertation investigates the potential effects of financial sector development on economic growth. In order to reveal the nature of these effects, I focus on the potential channels of influence from the financial to the real sector. I investigate the link between the financial sector and economic growth focusing on the role of the financial sector in funding innovative activities. To this aim, I construct a model where the economy is driven by innovative activities that require both human capital and external funding. My analysis shows that when certain conditions are satisfied, there exists a unique equilibrium where the growth rate of the economy is jointly determined by the levels of human capital and financial development. An implication of this is that financial liberalization policies that do not adequately address the fundamentals of the economy can cause bank failures and possibly a financial crisis. Furthermore, the model suggests that, depending on the parameter values of the economy, there may be two forms of poverty traps, one with a small number of bankers and the other with a large number of bankers. Also, I examine empirically whether financial development has any effect on the rate of technological innovation using patent applications as a proxy for innovative output. For a sample of twenty eight countries from 1970 to 2000, my analysis shows that financial development is indeed significant in raising the growth rate of innovative output. In addition, I investigate whether financial development enhances investment efficiency. The efficiency channel hypothesis states that financial development may increase the efficiency of investment by directing the funds to the most productive uses. I examine if there is any evidence of financial development positively affecting the efficiency of aggregate investment using developing countries as a sample. Compared to the volume channel, the efficiency channel has received relatively little attention until recently. I address the issue of the efficiency channel using two alternative measures of aggregate investment efficiency. I find that, for developing countries, financial development significantly and positively affects productivity of investment.
Author : Simeon Djankov
Publisher :
ISBN 13 :
Total Pages : 218 pages
Book Rating : 4.3/5 (91 download)
Download or read book Three Essays on the Economics of Transition written by Simeon Djankov and published by . This book was released on 1999 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Moises Syrquin
Publisher :
ISBN 13 :
Total Pages : 624 pages
Book Rating : 4.F/5 ( download)
Download or read book Economic Structure and Performance written by Moises Syrquin and published by . This book was released on 1984 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Felix Roth
Publisher : Springer
ISBN 13 : 9783030861858
Total Pages : 185 pages
Book Rating : 4.8/5 (618 download)
Download or read book Intangible Capital and Growth written by Felix Roth and published by Springer. This book was released on 2022-03-09 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: For several decades now, advanced economies across the globe have been undergoing a process of rapid transformation towards becoming knowledge economies. It is now widely recognized that intangible capital has been a crucial element in the growth performance of these economies and their firms. The term serves as a useful device for capturing those dimensions of capital that are not tangible in nature but are nevertheless fundamentally important for growth. It encompasses investments in education (human capital) and in informal (social capital) and formal (rule of law) institutions by the public sector and households, as well as investments by businesses aimed at enhancing their knowledge base, such as software, innovative property, and economic competencies. Intangible Capital and Growth is the first of two open-access volumes presenting a selection of the author's essays on Labor Productivity, Monetary Economics, and Political Economy. This first volume brings together eight of the author's essays, selected with the aim of providing an overview of his research to date on intangible capital and growth.
Author : Harold O. Fried
Publisher : Oxford University Press
ISBN 13 : 0199884803
Total Pages : 723 pages
Book Rating : 4.1/5 (998 download)
Download or read book The Measurement of Productive Efficiency and Productivity Growth written by Harold O. Fried and published by Oxford University Press. This book was released on 2008-02-04 with total page 723 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Harold Fried, et al. published The Measurement of Productive Efficiency: Techniques and Applications with OUP in 1993, the book received a great deal of professional interest for its accessible treatment of the rapidly growing field of efficiency and productivity analysis. The first several chapters, providing the background, motivation, and theoretical foundations for this topic, were the most widely recognized. In this tight, direct update, these same editors have compiled over ten years of the most recent research in this changing field, and expanded on those seminal chapters. The book will guide readers from the basic models to the latest, cutting-edge extensions, and will be reinforced by references to classic and current theoretical and applied research. It is intended for professors and graduate students in a variety of fields, ranging from economics to agricultural economics, business administration, management science, and public administration. It should also appeal to public servants and policy makers engaged in business performance analysis or regulation.
Author : Juan-Pedro Garces
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Three Essays on Education and Its Impact on Economic Growth and Development written by Juan-Pedro Garces and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation we explore different aspects of the relationship between education (as one of the main components of human capital) and economic productivity. In the first chapter, we measure the factors that contribute to the quality of education, following Hanushek and Woessmann (2007). An empirical research is carried out for the case of Chile, a country which implemented a very unique educational system in the mid-1980s, with a strong participation of the private sector in the provision of educational services. Amongst other factors, we study the influence of the public/private divide, the socio-economic level of the students and the pupil/teacher ratio. The quality of education is measured by the performance of students in standardised national tests administered to all schools in Chile. The second chapter explores the effects of population density on productivity and the synergetic impact of educational attainment and population density on the causation of technological progress and economic growth, following Becker et al. (1999). We devise a simple theoretical model to explain the channels through which education and density affect productivity, and we test it for a wide sample of developed and developing countries. Our empirical results confirm the positive impact of both population density—broadly defined—and the interaction of education and density on economic productivity. Finally, the third chapter of the dissertation examines the ongoing controversy about the roles of education and institutions as main contributing factors of economic growth. To try to establish a balanced view, we first assume as a premise that good institutional governance is indeed an important factor in promoting economic growth, as has been shown repeatedly in the literature. But at the same time, we investigate the causes of good institutional governance, and find out that educational attainment is one of the main factors contributing to most of the aspects of good governance.
