Sectoral and aggregate technology growth in Spain

In this paper we analyze technological change in the Spanish economy by constructing adjusted Solow residuals, where the adjustment attempts to correct for the bias associated with the potential presence of imperfect competition, increasing returns, variable input utilization and, especially, sectoral reallocation of inputs across sectors. We refer to this modified Solow residual as a technology index. Sectoral reallocations and variable input utilization are key determinants of the differences between the aggregate Solow residual and the technology index resulting from the aggregation of estimated sectoral technological growth. We show that starting in the mid nineties, there has been a deceleration in the aggregate growth rate of technology which is basically due to the behaviour of the manufacturing sectors. Finally, our results imply that aggregate technology growth is less volatile than aggregate productivity as measured by the Solow residual.     

中国工业企业绿色技术创新效率的测度与评价—基于超效率网络SBM-Malmquist模型分析

将绿色创新发展理念融入到工业企业技术活动中，已经成为突破环境和资源约束、推动工业可持续发展的关键。本文将能源消耗量、三废排放量等纳入研究框架，运用超效率网络SBM模型和Malmquist-Luenberger指数对中国各省份工业企业绿色技术创新效率进行测度与评价。结果表明：在2013-2018年间，工业企业绿色技术创新效率处于较低水平，省域间存在较大差异，但差异趋势逐渐缩小；我国工业企业绿色技术创新效率呈现出“东-中-西”依次递减的阶梯式空间分布格局，与东部地区工业企业绿色技术创新效率持上升的趋势相比，中西部效率水平不仅存在绝对水平明显偏低的特征，而且还表现出了增长幅度的差异；成果转化期的效率值低于科技研发的效率值，纯技术效率水平过低是造成两阶段效率不高的主要原因；我国Malmquist-Luenberger指数均大于1，整体发展态势良好，其中技术效率变化指数的增长主要依赖于纯技术效率变化指数。从三大地区层面来看，东部地区的ML指数主要归结于技术进步指数TC的增长，而中西部地区的ML指数则主要依赖于技术效率变化指数EC的增长。通过上述研究确定绿色技术创新效率损失的来源和真实原因，为企业提升绿色技术创新水平提供有效路径。     

Elasticity of substitution and the stagnation of Italian productivity

The aim of this paper is to investigate the roots of the stagnation in the Italian total factor productivity (TFP). The analysis focuses on the specific pattern of technical progress in determining the dynamics of the TFP. This analysis cannot be done with Cobb-Douglas technology, but requires the employment of a constant elasticity of substitution (CES) production function that allows distinguishing between the direction and the bias of technical progress. We employ a CES specification embodying both labor- and capital-augmenting technical change, with a σ less than 1. We obtain three main results. (1) There seems to have been a structural break around the mid-1990s in the direction and bias of technological change; (2) The first half of the sample features a labor-augmenting technical change and a capital bias; and (3) In the second part of the sample, both these characteristics seem to disappear, and the evolution of factor endowments assumes a key role. This fact may be seen as one of the potential causes of the stagnation in Italian productivity.     

内外部能源价差对我国工业部门能源效率的影响研究

引入能源价格的Cobb-Douglas成本函数,利用能源效率的经验决定模型对影响我国工业部门能源效率的因素进行实证分析,特别是利用蛉回归对我国工业部门36个二位数行业进行行业分析并在此基础上运用面板数据模型对我国整个工业部门的能源效率影响因素的作用力度进行测量.结果显示:行业产值、技术水平、产业结构和能源消费结构构成工业部门能源效率的直接原因,同时内外部能源价差通过其他因素对能源效率的作用明显.总体来看,产业结构的优化升级以及能源消费结构的调整对于能源效率的提高尚有很大的空间,实践中应强调能源价格政策在提高能源效率和节能减排过程中的积极意义.     

Assessing Applied Protection across the World*

This paper presents MAcMap–HS‐6, a database providing a consistent, ad valorem equivalent measure of tariff duties and tariff rate quotas for 163 countries and 208 partners, at the six‐digit level of the Harmonized System (5111 products), accounting for all preferential agreements. We describe the methodology used to compute and aggregate an ad valorem equivalent of applied protection. Emphasis is placed on minimizing the endogeneity bias in the aggregation procedure, while acknowledging structural differences in export specialization. The resulting quantitative assessment is illustrated by giving an overview of applied protection across the world in 2001, in terms of average as well as distribution.     

Estimating technology in the postal sector: a Bayesian approach

The aim of this article is to study the technology of the sector represented by the Spanish national post-office and telegraph service, Sociedad Estatal Correos y Telégrafos, S.A. trading as Correos, and denominated as such hereafter. Concretely, we analyse economic efficiency (technical and allocative) and scale economies of the production units (cost centres) of Correos. To do this, we employ a methodology based on an input distance function which is the dual of the cost function. Moreover, and applying duality theory, we develop an economic model to assess the effect of postal infrastructures on the operators’ costs. In order to carry out the empirical model, Bayesian econometrics is applied to estimate the parameters in the input distance function and the technical and allocative efficiency terms.     

WHAT AFFECTS EFFICIENCY IN LABOUR MARKET MATCHING AT DIFFERENT TERRITORIAL AGGREGATION LEVELS IN POLAND?

We analyse efficiency of a labour market matching process at different levels of territorial aggregation and in different time horizons. We apply a stochastic matching frontier to random, job queuing and stock‐flow models. We use data for Poland, a country with highly regionally diversified unemployment. We find that search and matching mechanisms significantly differ with territorial aggregation. Higher efficiency in small regions results from lower frictions. Larger regions enjoy better structural matching if only labour market participants have time to search. Different policy measures should be designed to improve labour market matching efficiency at different regional levels.     

The shadow of death model revisited with an application to French firms

This article provides an empirical model of the shadow of death in which the exit probability of a firm depends on the firm’s productive performance and the firm’s level of sunk costs, which are viewed as barriers to exit. The shadow of death effect is treated by assuming a relationship between the propensity to exit and both the contemporaneous and lagged values of efficiency and sunk costs. To estimate the unobserved productive efficiency, we use the Ackerberg et al. (2006) estimator extended by the addition of a correction for selection bias. We use an unbalanced sample of approximately 100 000 French firms over the period 1997 to 2002. Our results indicate that the probability of exit is negatively affected by unobserved individual efficiency and the level of sunk costs. The shadow of death effect applies mainly in manufacturing, where both productive efficiency and sunk costs decrease during several years before exit. In service sectors, the exit process seems to occur more suddenly.     

The three Is of public schools: irrelevant inputs,insufficient resources and inefficiency

We examine the educational production function and efficiency of public school districts in Illinois. Using non-parametric kernel methods, we find that most traditional schooling inputs are irrelevant in determining test scores (even in a very general setting). Property tax caps are the only relevant factor that is related to districts’ financial constraints and have predominantly negative associations with test scores. Therefore, insufficient resources may be partially responsible for the lack of growth in test scores. For most other relevant inputs, we find substantial heterogeneity in the returns, which helps reconcile some of the puzzling results in the literature. We further find that there exist inefficiencies in school districts. Moreover, the level of test scores, commonly used as a measure of school effectiveness, (while related) differs substantially from our efficiency scores, and standard parametric approaches drastically underestimate school efficiency. We discuss the policy implications of our results.     

Adoption and use of technology with low litigation risk – the case of financial reporting on Twitter by ASX companies

ABSTRACT

Corporate adoption of technology faces challenges such as resource constraints and litigation risk. To investigate if low litigation risk encourages technology adoption and its use, this paper investigates corporate financial reporting on Twitter, a voluntary corporate disclosure practice without obvious litigation risk in Australia. This study reviews 4,540 financial reporting related tweets from 222 ASX listed companies’ Twitter accounts. An examination of tweet sentiment reveals a positive reporting bias, as listed companies are more willing to disclose positive financial reporting information on Twitter. A comparison of corporate financial reporting tweets prior to and after 2013 reveals that use of Twitter for opportunistic voluntary disclosure is gaining popularity, a trend that warrants close attention by regulators in order to protect investors from selective disclosure with reporting bias.     

Implied discount rate and payback threshold of energy efficiency investment in the industrial sector

The industrial sector is responsible for about a third of the energy usage in the United States, and there is significant energy saving potential from the industrial sector. However, the phenomenon of “energy efficiency gap” – the scenario in which cost-effective energy efficient technologies enjoy only limited market success – appears frequently in the industrial sector. This article tries to explain this efficiency gap in the industrial sector by empirically estimating the implied discount rates and payback thresholds industrial firms use to evaluate their energy efficiency investments. Using the Industrial Assessment Centers (IAC) database from 2002 to 2011, with more than 30 000 energy efficiency recommendations, this article builds structural models of firms’ evaluation of an energy efficiency project. The model results show that the implied discount rates of medium to small industrial firms range from 40 to 45%, and the average payback threshold is about 9 months.     

外资企业研发绩效的随机前沿分析

企业研发的效率与本地区的发展水平分不开.本文从研发组织的信息获取和知识转移的角度,分析地区信息化、科技水平和技术市场发展水平对区域外资研发效率的影响.以我国25个地区的外资工业企业近年数据为样本,采用随机前沿分析的方法分析地区因素对外资研发效率的影响.研究显示:外资企业在华的研发效率普遍很低;地区间研发效率值严重不平衡:地区信息化发展水平和科技实力都与本地区外资研发效率存在正相关关系;由于我国技术市场发展不成熟,实证中技术市场对外资研发效率的影响不显著.     

Unified efficiency evaluation of regional industries in China: a nonradial directional distance function approach

This article extends a nonradial directional distance function (DDF) to allow decision-making units to adjust inputs in two directions. Based on this nonradial DDF, we evaluate the regional industrial unified efficiency (operational efficiency and environmental efficiency) in China between 2005 and 2014. We find that East China has the highest industrial unified efficiency score, followed by the West and Central China. To avoid methodological biases, three other models are also applied to assess the unified efficiency. The results indicate that a nonradial DDF under natural and managerial disposability (our model) has a greater discriminating power than a nonradial DDF under either of the disposabilities and the radial DDF.     

我国不同类型工业企业生产效率的区域差异研究

工业企业生产效率是一个国家或地区工业发展水平的重要标志,我国各种类型企业由于所有制形式不同,其运作机制和效率也有差异,本文通过应用Cobb-Douglas生产函数模型,并利用充足的数据分析了分省加总的不同类型工业企业的生产及其效率。研究得出我国1999~2002年,对几乎绝大多数省份而言,国有及国有控股企业的生产效率最低,而生产效率最高的企业是三资企业,同时研究也表明,在区域层面上来看,东部地区的各种类型企业生产效率比其他地区的生产效率高20%以上,这要求以后在研究区域差异时应更多关注区域生产的差异。     

The Structure and Composition of India’s Exports and Industrial Transformation (1980–2000)

Abstract

This paper analyses structural change in Indian manufactured exports empirically for 143 (mainly manufacturing) industrial groupings. Trade indices such as Balassa’s revealed comparative advantage (RCA) index and variants are used. Detailed econometric analysis is employed to examine structural change. The stability and the process of the intertemporal evolution of the RCA indices is considered. Three technology categories (high technology, medium technology and low technology) are analysed individually. Our results point towards substantial industrial restructuring in manufactured exports. We find evidence of despecialisation within India’s manufactured exports for the time period studied, which is consistent with increasing specialisation in a subset of manufactured exports.     

环境规制对碳效率的多重路径及门槛模型研究

从结构升级及效率提升两大维度刻画环境规制对碳排放效率的关系及作用机制，研究环境规制是如何提升城市碳排放效率的。基于2006—2019年中国279个城市层面数据，采用非参数百分位自抽法，逐步回归法、Sobel检验和交互调节模型验证影响路径，并利用门槛模型探讨不同路径下环境规制的调节作用。结果表明：(1)环境规制促进城市碳排放效率提升，但存在区域异质性；(2)环境规制通过促进产业结构高度化、绿色技术创新和能源效率升级提高碳排放效率，产业结构合理化及产业集聚“遮掩”了环境规制的激励作用；(3)环境规制对提升碳排放效率存在多种门槛效应和调节机制。发挥环境规制对碳排放效率结构和效率的双重激励时，需注意不同路径的维度问题，以提高准度，把握力度。     

产业发展效率视角的企业家行为配置研究新进展

企业家生产性行为的合理配置直接决定着经济结构变迁和产业发展效率。具体来说：企业家对产业目标市场的进入与退出能力和水平决定了产业发展的方向以及产业结构之间的合理性;企业家的生产性产业投资行为与水平决定了产业发展的速度;企业家的技术选择和技术吸收能力决定了产业发展的质量和产业结构的高级化;企业家对生产组织与生产方式选择的生产性行为也与产业发展效率直接关联。本文对国外这几个方面研究的最新进展进行了文献回顾与述评。     

Competition in the political arena and local government performance

Competition reduces rent extraction in private-sector firms. In this article, we empirically assess whether it similarly disciplines politicians by evaluating local-level governments’ performance in Flanders. The results indicate that electoral competition – measured via the number of parties competing in elections – significantly positively affects the productive efficiency of municipal policy. Intertemporal competition – measured as the volatility of election outcomes over time – has a similar, but weaker, positive effect. These beneficial effects are mitigated by the fact that competition may lead to more fragmented governments, which is shown to work against their productive efficiency. Overall, though, the beneficial effects outweigh the unfavourable ones in our sample.     

工业效率与中国增长极形成的关系研究——基于中国地级市数据的实证检验和理论解释

本文阐述了工业效率的提升对增长极形成的作用机理。在此基础上,选用了城市区域贡献率水平、城市区域增长率水平和城市区域发展水平三个判定条件,运用核密度估计法对2001—2018年中国200个地级市,是否成为中国经济增长极进行了筛选和识别。本文实证检验了工业效率提升对增长极形成的作用机制,发现工业效率的提升能够显著推动增长极形成,其作用的过程机理是工业效率的提升一方面直接推动增长极形成,另一方面通过产业结构的升级间接地推动增长极的形成。同时发现,道路基础设施和互联网基础设施是通过促进工业效率提升,间接影响增长极的形成。人口规模和地方财政科技支出对增长极的形成也有显著正向影响。     

Estimating input-mix efficiency in a parametric framework: application to state-level agricultural data for the United States

ABSTRACT

This paper contributes to the productivity literature by demonstrating novel econometric methods to estimate input-mix efficiency (IME) in a parametric framework. Input-mix efficiency is defined as the potential improvement in productivity with change in input mix. Any change in input-mix (e.g., land to labou r ratio) will result in change in productivity. The advantage of this approach is that it does not require data on input prices to estimate the mix efficiency levels. A nonlinear input-aggregator function (e.g., Constant Elasticity of Substitution) is used to derive an expression for input-mix efficiency. Bayesian stochastic frontier is estimated for obtaining mix efficiency using US state-level agricultural data for the period 1960–2004. Significant variation in input-mix efficiency is noted across the states and regions, attributable to diverse topographic and geographic conditions. Furthermore, comparisons of allocative and mix efficiencies provide insightful policy implications. The production incentives such as taxes and subsidies could help farmers in adjusting their input mix in response to changes in input prices, which can affect the US agricultural productivity significantly. The proposed methodology can be extended by i) using flexible functional forms; ii) introducing various time- and region-varying input aggregators; and iii) defining more sophisticated weights for input aggregators.