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1.
In this paper we present an endogenous growth model to analyze the growth maximizing allocation of public investment among
N different types of public capital. Using this general model of public capital formation, we analyze the stability of the
long-run equilibrium and we derive the growth-maximizing values of the shares of public investment allocated to the different
types of public capital, as well as the growth-maximizing tax rate (amount of total public investment as a share of GDP).
The empirical implication of the model is that both the effects of the shares of public investment and the tax rate on the
long-run growth rate are non-linear, following an inverse U-shaped pattern. Our analysis is completed by showing that the
growth-maximizing shares of public investment and the growth-maximizing tax rate also maximize welfare in the decentralized
economy. 相似文献
2.
Dana Dascal Konstadinos Mattas Vangelis Tzouvelekas 《International Advances in Economic Research》2002,8(2):135-147
In this research study, a gravity model approach was used in order to analyze the main factors affecting the trade flows of wine in the EU. The empirical model was applied using data for the first twelve EU countries for the period 1989–97. It has been clearly shown in the empirical literature that gravity models can be successfully applied to a single commodity market. The present study utilized pooled cross-sectional and time series data in a one-way fixed effects model that accounted for country-pair heterogeneity. The results revealed that wine trade was positively influenced by an increase in GDP per capita, since greater income promotes trade. The remoteness of one country from another influenced exports positively and imports negatively, and the quantities traded did not prove to be very sensitive to wine prices. The depreciation of EU currencies and the high production of wine in the EU increased exports and reduced imports, while EU integration enhanced trade among members. 相似文献
3.
Technology Adoption under Production Uncertainty: Theory and Application to Irrigation Technology 总被引:4,自引:0,他引:4
Phoebe Koundouri Céline Nauges Vangelis Tzouvelekas 《American journal of agricultural economics》2006,88(3):657-670
We propose a theoretical framework to analyze the conditions under which a farmer facing production uncertainty (due to a possible water shortage) and incomplete information will adopt a more efficient irrigation technology. A reduced form of this model is empirically estimated using a sample of 265 farms located in Crete, Greece. The empirical results suggest that farmers choose to adopt the new technology in order to hedge against production risk. In addition, we show that the farmer's human capital also plays a significant role in the decision to adopt modern, more efficient irrigation equipment. 相似文献
4.
Konstantinos Mattas Christos Fotopoulos Vangelis Tzouvelekas Stratos Loizou Kostas Polymeros 《International Advances in Economic Research》1999,5(2):255-268
The importance of specific crop sectors can be better cast in a broader framework to account for intersectoral effects. Input-output analysis can provide this framework to assess the importance of the controversial crop, tobacco. In this respect, employment, income, and output multipliers were estimated to demonstrate the dynamics of the sector at the regional and national levels. Furthermore, the impact of totally eliminating tobacco cultivation was computed. Results clearly demonstrate the significance of the tobacco sector and its interrelation with the rest of the economic sectors.This study was partially financed by the Portuguese Association of Tobacco Producers. 相似文献
5.
This article attempts to integrate the production‐ and the efficiency‐based approaches for evaluating the impact of extension on farms' performance. For this purpose the nonneutral production frontier model is used, and the empirical analysis refers to a sample of farms from Crete, Greece. The empirical results support the proposed formulation instead of either the production‐ or the efficiency‐based formulations as extension was found to have a statistically significant effect on closing both the technology and management gaps. Public and private extension services were found to be competitive in the production function and complementary in the technical inefficiency effect function. In addition, farms using both public and private extension services achieved a higher degree of technical efficiency than those using either public or private extension services, and farms with no extension services were found to be the least efficient. 相似文献
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The temporal pattern of technical efficiency in the technical inefficiency effects model, as modeled by Battese and Coelli
(Empir Econ 20:325–332, 1995), is rather restrictive. Specifically, it a priori imposes a common pattern upon all firms in
the sample, which in addition is monotonic over time. Obviously this is an undesirable implication of the model especially
when there is evidence of strong firm heterogeneity and/or a long time span. To overcome this shortcoming, the present paper
incorporates the Cornwell et al. (J Econom 46:185–200, 1990) flexible specification of the temporal pattern of technical efficiency
into technical inefficiency effects model. The proposed formulation is then applied to the agricultural sector of the EU and
US, during the period 1973–1993. The empirical result support the proposed formulation as quite different temporal patterns
of technical efficiency have been found for the ten countries included in the analysis.
We would like to thank an anonymous referee and an associate editor for valuable suggestions in an earlier version of the
paper. 相似文献
9.
Konstantinos Chatzimichael Vangelis Tzouvelekas 《Journal of Productivity Analysis》2014,41(3):399-417
This paper develops a parametric decomposition framework of labor productivity growth relaxing the assumption of labor-specific efficiency. The decomposition analysis is applied to a sample of 121 developed and developing countries during the 1970–2007 period drawn from the recently updated Penn World Tables and Barro and Lee (A new data set of educational attainment in the world 1950–2010. NBER Working Paper No. 15902, 2010) educational databases. A generalized Cobb–Douglas functional specification is used taking into account differences in technological structures across groups of countries to approximate aggregate production technology using Jorgenson and Nishimizu (Econ J 88:707–726, 1978) bilateral model of production. The measurement of labor efficiency is based on Kopp’s (Quart J Econ 96:477–503, 1981) orthogonal non-radial index of factor-specific efficiency modified in a parametric frontier framework. The empirical results indicate that the weighted average annual rate of labor productivity growth was 1.239 % over the period analyzed. Technical change was found to be the driving force of labor productivity, while improvements in human capital and factor intensities account for the 19.5 and 12.4 % of that productivity growth, respectively. Finally, labor efficiency improvements contributed by 9.8 % to measured labor productivity growth. 相似文献
10.
Olive-growing is a major farming activity in Greek agriculture. This paper analyzes empirically the technical efficiency of organic and conventional olive-growing farms using a stochastic production frontier methodology and a translog functional specification. Findings indicate that the organic olive-growing farms examined exhibit a higher degree of technical efficiency (relative to their production frontier) than do conventional olive-growing farms. Reasons may include lower profit margins and restrictions on inputs permitted, thus forcing organic farmers to be more cautious with input use. However, both input- and output-oriented technical efficiency scores are still relatively low for both types of olive-farming. Thus there is considerable scope for cost reducing and farm income improvement in both farming modes. This could prove crucial for the long-run viability and the future course of the sector. 相似文献