Regional productivity convergence: An analysis of the pulp and paper industries in U.S., Canada,Finland, and Sweden |
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Institution: | 1. Department of Biology, University of Maryland, College Park, MD 20742, USA;2. Department of Mathematics, University of Maryland, College Park, MD 20742, USA;3. Department of Mathematics, University of Louisville, Louisville, KY 40292, USA;1. Centro Brasileiro de Pesquisas Fisicas, National Institute of Science and Technology for Complex Systems, Rua Xavier Sigaud 150, Rio de Janeiro 22290-180 RJ, Brazil;2. Santa Fe Institute, 1399 Hyde Park Road, Santa Fe, NM 87501, USA;1. Department of Mathematics, Pusan National University, Pusan 46241, South Korea;2. Investment & Financial Engineering Dept., Korea Investment & Securities Co., Ltd., Seoul 07321, South Korea;3. Department of Mathematics, Yonsei University, Seoul 03722, South Korea |
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Abstract: | In this paper we investigate the presence of productivity convergence in eight regional pulp and paper industries of U.S. and Canada over the period of 1971–2005. Expectation of productivity convergence in the pulp and paper industries of Canadian provinces and of the states of its southern neighbour is high since they are trading partners with fairly high level of exchanges in both pulp and paper products. Moreover, they share a common production technology that changed very little over the last century. We supplement the North-American regional data with national data for two Nordic countries, Finland and Sweden, which provides a scope to compare the productivity performances of four leading players in global pulp and paper industry. We find evidence in favour of the catch-up hypothesis among the regional pulp and paper industries of U.S. and Canada in our sample. The growth performance is at the advantage of Canadian provinces relative to their U.S. counterparts. The two Nordic countries, that had the lowest productivity levels in 1971, erased most of the gap and in some cases moved ahead of their North-American counterparts. |
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Keywords: | TFP convergence Multilateral TFP index Pulp and paper industry Translog cost function Regional productivity |
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