Determinants of total factor productivity in former Soviet Union economies: A stochastic frontier approach

This paper investigates the process of GDP generation in former Soviet Union (FSU) economies to provide an understanding of the impact of technology channels on countries’ efficiency. We apply a stochastic frontier approach to 15 FSU economies over the period 1995–2008 and find that FDI and human capital improve countries’ technical efficiency. Furthermore, we show that these factors also have a positive impact on total factor productivity (TFP), which, in turn, improves real GDP growth. Hence, our results suggest that FSU countries should promote public policies that provide incentives to attract foreign investment and enhance domestic education in order to improve their economic growth. Additionally, our empirical evidence argues against the resource curse hypothesis. We also show, by computing efficiency change and technological change indices at the country level, that FSU economies benefit more from exploiting technological progress than from catching up to the best practice frontier.     

私募股权、公开上市和生产效率

本文以公司在资本市场上公开上市为背景,以是否具有私募股权融资背景为标准,选取了384家上市公司为研究样本,使用索洛余值法、随机前沿分析模型等方法,实证分析私募股权投资对改善企业生产效率的作用。研究结果发现,无论是否有私募股权投资,企业上市后的全要素生产率均高于上市前;有私募股权投资的企业全要素生产率在上市前要低于无私募股权投资的企业,但是上市后则超过了无私募股权投资的企业。     

The effects of total factor productivity and export shocks on a small open economy with unemployment

The paper analyzes the dynamic effects of a supply side shock and a demand side shock, which hit an open economy with unemployment. The supply side shock is modeled as a reduction in total factor productivity, whereas the demand side shock is caused by a drop in exports. The model builds upon the small one-sector two-good open economy framework described in Turnovsky (2000, chapter 11.3). In contrast to this standard framework, in which Walrasian labor markets are assumed, search unemployment and wage bargaining are introduced, and unemployment results from time consuming and costly matching of vacancies with searching agents. Using a plausible calibration of the model, the dynamic adjustments of unemployment, output, and other economic key variables are analyzed. We find that a negative export shock primarily has effects on consumption and welfare, but not on unemployment and output, whereas the supply side shock leads to considerable responses of unemployment, output, consumption and welfare. If both shocks together hit the economy, the changes in consumption and welfare almost double.     

Applying efficiency measurement techniques to the measurement of productivity change

Deterministic frontier analysis (DFA), stochastic frontier analysis (SFA), and data envelopment analysis (DEA) are alternative analytical techniques designed to measure the efficiency of producers. All three techniques were originally developed within a cross-sectional context, in which the objective is to compare the efficiencies of producers. More recently all three techniques have been extended for use in a panel data context. In the latter context it is possible to measure productivity change, and to decompose measured productivity change into its sources, one of which is efficiency change. However when efficiency measurement techniques, particularly SFA, have been applied to panel data, it has infrequently been made clear what the objective of the analysis is: the measurement of efficiency, which may vary through time as well as across producers, or the measurement and decomposition of productivity change. In this paper I explore the use of each technique in a panel data context. I find DFA and DEA to have achieved a more satisfactory reorientation toward productivity measurement than SFA has.     

Analysis on pure e-commerce congestion effect,productivity effect and profitability in China

This paper examines the relationship of e-commerce congestion effect, productivity effect and profit generation in China. The technique of Data Envelopment Analysis (DEA) is used to measure returns to scale and total factor productivity in e-commerce. The results show that e-commerce firms achieve productivity growth but suffer from input congestion. Congestion weakens profitability and leads to negative returns of inputs to outputs. This finding offers a new insight to explain the determinants of profit change. This research enriches production theory of internet companies, and helps managers strengthen their profitability by measuring the existence of congestion and eliminating input congestion resources.     

基于共同前沿函数法的中国区域创新体系效率的评估

利用共同前沿函数法和超级对数生产函数模型,并使用中国大陆四大区域三十一个省市2000—2005年期间的面板数据,对区域创新体系效率进行了评估。研究结果表明,2000—2005年期间,中国东部平均拥有最高的区域创新体系效率;之后连续分别为:中国东北部、西部和中部。同时,本研究也提供了区域技术差距比重的评估,即相对于经济整体的潜在技术。实证结果表明,中国东部的创新体系是全国最有效率的,而且它的技术水平也接近于全国技术的共同前沿。这表明,中国东部,尤其是上海地区,拥有更先进的技术并成为其它区域的最佳方案。其它区域都能依据东部的创新体系策略为改善各区域的创新体系并追赶全国的技术水平。     

Exact decomposition of the Fisher ideal total factor productivity index

Decompositions of total factor productivity (TFP) shed light on the driving factors behind productivity change. We develop the first exact decomposition of the Fisher ideal TFP index which contains no debatable mixed-period components or residuals. We systematically isolate five effects of (1) technical change, (2) technical efficiency, (3) scale efficiency, (4) allocative efficiency, and (5) price effect. The three efficiency components (2–4) represent the efficiency of achieving a given target point. Components (1) and (5) capture the changes of the target point. While the technical change component is well-established, changes in the relative input–output prices can have real effects on the scale and scope of the target. Such changes are captured by the new price effect component (5). The new decomposition is compared with existing decompositions both in theory and by means of an empirical application to a panel data of 459 Finnish farms in years 1992–2000.

Productivity,Technology and Economic Growth: What is the Relationship?

The relationship between productivity, technology and economic growth has been debated extensively in the endogenous growth, growth accounting, New Economy and policy literature. This paper briefly surveys the literature on total factor productivity (TFP) calculations – the various techniques and problems associated with it. We argue that TFP is not a measure of technological change and only under ideal conditions does it measure the supernormal profits associated with technological change. The critical driving force of economic growth is not the super normal profits that technological change generates but rather the continuous creation of opportunities for further technological development. Six illustrations of when TFP fails to correctly measure these super normal profits are provided. A version Carlaw and Lipsey's (2003b) model of endogenous general purpose technology‐ driven growth is then utilized to make some progress toward answering Prescott's (1998) call for a theory of TFP. The model is used to simulate artificial data and connect theoretical assumptions of returns to scale and resource costs to the conditions under which TFP miss‐measures the actual growth of technological knowledge.     

Matching in local labor markets: a stochastic frontier approach

This paper investigates the technical efficiency of labor market matching from a stochastic frontier approach. The true fixed-effects model (Greene J Prod Anal 23:7–32, 2005a; J Econom 126:269–303, 2005b) is utilised in order to separate cross-sectional heterogeneity from inefficiency, and inefficiency terms are modelled following Battese and Coelli (Empir Econ 20:325–332, 1995). The data set consists of almost 17,000 observations from Local Labor Offices (LLOs) in Finland. According to the results, there are notable differences in matching efficiency between regions, and these differences contribute significantly to the number of filled vacancies. If all regions were as efficient as the most efficient one, the number of total matches per month would increase by over 23%. The heterogeneity of the job-seeker stock is an important determinant of matching efficiency: the weight of the composition of the job-seeker stock in the inefficiency terms is on average 85%.

Developing a multiple-criteria decision analysis for green economy transition: a Canadian case study

ABSTRACT

Identifying planning strategies for the transition to a green economy is a formidable challenge. We proposed a novel multiple-criteria decision analysis model which can quantitatively identify the socio-economic and environmental impacts of various government and public policies. We applied the model to four practical scenarios in Canada for determining the optimal final demand that maximizes the country's GDP and employment while minimizing GHG emissions for small, short-term changes. As a result, the model suggested potential ways to simultaneously achieve a GDP growth of 2.5 billion CAD and creation of over 25,000 new jobs, and a saving of 2514 kt CO₂. As per the final demand, the electrification of domestic heating and transport should be more promoted. The proposed analysis tool will provide decision-makers with the ability to explore the design and effects of policy reforms, regulatory changes, and targeted public expenditure strategies, thereby overcoming barriers towards a green economy.     

县域经济的发展与城市化进程的推进——关于沈阳和大连的实证分析

以辽宁省的沈阳和大连为例,通过聚类分析和因子分析对沈阳和大连所属的县域城市竞争力作对比.实证分析表明,沈阳和大连的县域经济差异显著.因此,壮大县域经济是沈阳当前乃至今后的迫切任务.应通过产业结构升级、加快基础设施建设等措施发展县域经济,将县级城市作为其中心城市的卫星城,为城市化的发展注入新的活力.     

Onward the Spatial: an Essay on the Nature and Relevance of Regional Economics

Abstract

Regional economics appears to be losing its currency in academic discourse, with a clear preference over recent years for the term ‘spatial economics’. This essay examines the nature of the developments in order to explore their implications for regional economics, focusing on four key aspects: empirical methods and the ‘tools’ of regional economics; theory and the appropriate spatial scale; the ‘regional problem’; and regional policy. It finds reasons to suggest that the ‘region’ is of less importance, but argues that the use of the term ‘spatial’ does not reflect dissatisfaction with regional economics, but rather it signals the reinvigoration of the subject from its formal connection to mainstream economics. This is primarily in the form of the new economic geography model, although limitations with this have led to an unsatisfactory form of regional policy that is based on growth theory.

Avance de l’économie spatiale: une communication sur la nature et la pertinence de l’économie régionale

RÉSUMÉ L’économie régionale semble avoir perdu du terrain dans les discussions académiques, et on lui préfère clairement, depuis quelques années, l'expression ‘économie spatiale’. La présente communication se penche sur la nature des développements, afin d'explorer leurs implications pour l’économie régionale, en examinant les quatre aspects principaux suivants: les méthodes empiriques et les ‘outils’ de l’économie régionale; la théorie et l’échelle spatiale appropriée; le ‘problème régional’; et la politique régionale. Il détermine des raisons pour affirmer que la ‘région’ joue un rôle moins important, mais estime que l'usage du mot ‘spatial’ ne reflète pas le mécontentement avec l’économie régionale, mais indique un renouveau pour ce sujet après ses liens officiels avec l’économie générale. Ce renouveau se présente principalement sous forme du nouveau modèle de géographie économique, bien que certaines de ses limitations risquent de donner lieu à une forme peu satisfaisante de politique régionale, basée sur la théorie de la croissance.

Avance de lo espacial: un trabajo sobre la naturaleza y la importancia de la economía regional

RÉSUMÉN?La economía regional parece estar perdiendo su difusión dentro de la disertación académica, mientras que durante los últimos años se observa una preferencia clara por el término ‘economía espacial’. Este trabajo examina la naturaleza de los desarrollos con objeto de explorar sus implicaciones para la economía regional, centrándose en cuatro aspectos clave: métodos empíricos y las ‘herramientas’ de la economía regional; teoría y la escala espacial apropiada; el ‘problema regional’; y política regional. Encuentra razones que sugieren que la ‘región’ tiene menor importancia, aunque arguye que el uso del término ‘espacial’ no refleja insatisfacción con la economía regional, sino que indica la revitalización del tema con respecto a su conexión formal con la economía dominante. Esto se da principalmente en la forma del nuevo modelo de geografía económica, aunque sus limitaciones pueden resultar en una forma insatisfactoria de política regional basada en teoría de crecimiento.

     

中国汽车工业中技术转移对技术进步影响的实证分析

本文对我国汽车工业1997到2008年时间序列数据,应用Engle—Granger协整检验和格兰杰因果关系检验的方法,就技术转移对技术进步的影响进行实证分析。结果表明,在我国的汽车工业中,技术转移与技术进步存在长期稳定关系,技术转移并没有促进技术进步,而技术进步促进了技术转移。最后,基于这个实证结果,本文提出了相应的政策与建议。     

Analytical Problems in Decomposing the System-wide Effects of Sectoral Technical Change

The disaggregated structure of input–output (IO) analysis makes it very attractive in analyzing technical change. Various authors have applied IO models in comparative static experiments to measure the effects of observed technical changes in individual industries on economy-wide total output (or related primary input) requirements. Less often have researchers performed similar analyses on the effects of changes across all consuming industries in the productive consumption of a sector's output, because of the need to append an external analysis of substitution. Despite the obstacles to joint analyses of sectoral production and cross-sectoral consumption change, its appeal has long been recognized. In this paper, an anomaly in such analyses is presented: the sum of the separate effects of changes in production and changes in productive consumption does not equal the effects of the joint change. A comparative static exercise reveals the root cause of the anomaly: essentially, an index number problem. Empirical analyses are performed across a comprehensive set of US sectors to estimate the range of discrepancies.     

Accumulation, Technical Progress, and Increasing Returns in the Economic Growth of East Asia

Adopting homothetic variable returns to scale functional specifications, this study identifies the returns to scale in the aggregate production functions of four East Asian newly industrialized economies–Hong Kong, Korea, Singapore, and Taiwan–and the Group of Five economies based on a maximum likelihood estimation. The study finds evidence of increasing returns in the early developmental stage of the East Asian economies. Separating out the scale contribution from the non-scale factor contributions, the decomposition of the sources of East Asian economic growth differs significantly from the conventional constant returns to scale results, indicating that the role of technical progress is overestimated when constant returns to scale is assumed.     

我国技术效率、技术进步与生产率区域差异的实证研究

本文用非参数Malmquist指数方法研究了我国全要素生产率的增长状况及其区域差异,并将其分解为技术进步和技术效率,同时采用增长回归法对我国地区之间TFP、技术效率、科技进步的差异进行了检验。研究表明:1994-2007年间我国全要素生产率年均增长率达到1%,主要得益于技术进步水平的提高,技术效率总体上呈现下滑趋势;我国各省市区的科技进步、技术效率、TFP变化呈现出较为明显的差异,其中TFP和科技进步变化差异最为明显,而技术效率变化差异不大。     

Measuring productivity of research in economics: A cross-country study using DEA

We measure productivity in leading edge economic research by using data envelopment analysis (DEA) for a sample of 21 countries belonging to the Organization for Economic Cooperation and Development (OECD). Publications in ten top journals of economics from 1980 to 1998 are taken as the research output. Inputs are measured by R&D expenditure, the number of universities with economics departments and (as an uncontrollable variable) population. Under constant returns-to-scale, the US emerges as the only efficient country. Under variable returns-to-scale, the efficiency frontier is defined by the US, Ireland and New Zealand. With the exception of the US, all countries in our sample display increasing returns-to-scale, and thus have the potential to raise their efficiency by scaling up their research activities.     

经济发达地区小城镇发展的区域协调--以浙江省杜桥镇为例

通过对杜桥镇及周边地区发展特征的分析,指出应加强小城镇发展的区域协调,并提出了协调发展的具体对策和区域协调的政策措施:政府职能转变,土地管理制度改革、财政管理体制改革,行政区划调整等.     

Reallocation and productivity growth in Japan: revisiting the lost decade of the 1990s

Hayashi and Prescott (Rev Econ Dyn 5(1):206–235, 2002) argue that the ‘lost decade’ of the 1990s in Japan is explained by the slowdown in exogenous TFP growth rates. At the same time, other research suggests that Japanese banks’ support for inefficient firms prolonged recessions by reducing productivity through misallocation of resources. Using the data on large manufacturing firms between 1969 and 1996, the paper attempts to disentangle the factors behind the slowdown in productivity growth during the 1990s. The main results show that there was a significant drop in within-firm productivity, the component that is not affected by reallocation of input and output shares across firms over time, during the 1990s. Although we find that misallocation among large continuing firms represents a substantial drag to overall TFP growth for these firms throughout the sample period, the negative impact of misallocation was least visible during the 1990s. The significant reduction in within-firm productivity growth suggests that, as the Japanese economy has matured, a policy which fosters technological innovations via greater competition, R&D, and fast technological adoption may have become increasingly important in promoting economic growth.

中国循环经济区域发展模式比较研究——以辽宁省为例

中国循环经济区域发展模式亟待完善.本文结合我国几个典型省份发展循环经济的现状和经验,以构建循环经济发展水平评价指标体系与评价方法为基础,对循环经济区域发展模式的典型省份进行了比较研究,提出了对策建议.