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on Efficiency and Productivity |
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Issue of 2009‒05‒30
six papers chosen by |
| By: | Anne Marie Gleeson (Waterford IT); Frances Ruane (ESRI) |
| Abstract: | This paper combines a literature identifying the sources of productivity growth with a literature exploring differences between the characteristics of exporters and non-exporters to examine the contributions of exporters and non-exporters to aggregate labour productivity growth in the Irish manufacturing sector between 1998 and 2004. Using the Breunig and Wong (2007) decomposition technique, we uncover the contributions to aggregate labour productivity of continuing, entering and exiting firms based on exporting and ownership status. We find that within-firm productivity growth of exporters drives overall productivity growth, with significant differences apparent between productivity growth rates of foreign and domestic owned establishments. |
| Date: | 2009–05 |
| URL: | http://d.repec.org/n?u=RePEc:esr:wpaper:wp297&r=eff |
| By: | Mghenyi, Elliot |
| Keywords: | Agricultural credit, joint liability, productive inputs, productivity, Agricultural Finance, International Development, Productivity Analysis, Risk and Uncertainty, D24, Q14, R34, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea09:49470&r=eff |
| By: | Andreas Stephan; Andriy Tsapin; Oleksandr Talavera |
| Abstract: | We examine why firms change their main bank and how this affects loans, interest payments and firm performance after switching. Using unique firm-bank matched Ukrainian data, the treatment effect estimates suggest that more transparent and riskier companies are more likely to switch their main bank. Importantly, main bank power, measured by equity holdings, appears to be one of the main drivers of firm switching behavior. Furthermore, we find that firms have lower performance after changing their main bank as they have to contend with higher interest payments. |
| Keywords: | Financial constraints, switching, main bank power, firm performance, Ukraine |
| JEL: | G21 G30 G32 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp894&r=eff |
| By: | FUKAO Kyoji; MIYAGAWA Tsutomu; Hak K. PYO; Keun Hee RHEE |
| Abstract: | As the studies of Krugman (1994), Young (1994), and Lau and Kim (1994) showed, the East Asian economic miracle may be characterized as 'input-led' growth. However, both the stagnation in investment and the decrease in average working hours combined with a decrease in the fertility rate require a productivity surge for renewed, sustainable growth in East Asia. The purpose of our study is to identify the sources of economic growth based on a KLEMS model for Japan and the Republic of Korea, which experienced a 'Lost Decade' and a financial crisis in 1997-1998, respectively. We report estimates of multifactor productivity in the market economy of Japan and Korea based on the dataset of a 72-industry classification following EU KLEMS project guidelines. We also identify the contributions of ICT assets and resource reallocations in two economies. Both economies have strong ICT-producing sectors but relatively weaker ICT-usage effects. Lower productivity in service industries due to excessive regulations and lack of competition in public service sectors seem to have worked against enhancing ICT-usage effects and finding renewed sustainable growth paths. The resource reallocation effects of capital input in both Japan and Korea were either negligible or insignificant, while those of labor input (the labor shift from lower wage industries to higher wage industries) were positive and significant. Therefore, a series of productivity-enhancing policies designed to promote reallocation of capital input seems crucial for both economies to resume sustainable growth paths. |
| Date: | 2009–05 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:09021&r=eff |
| By: | Sadraoui Tarek (LORIA - ABC (Apprentissage et Biologie Computationnelle) - CNRS : UMR7503 - INRIA - Université Henri Poincaré - Nancy I - Université Nancy II - Institut National Polytechnique de Lorraine); Naceur Ben Zina (LORIA - ABC (Apprentissage et Biologie Computationnelle) - CNRS : UMR7503 - INRIA - Université Henri Poincaré - Nancy I - Université Nancy II - Institut National Polytechnique de Lorraine) |
| Abstract: | This paper investigates the relationship between private and public investment in R&D, while taking into account the effect of several instruments policies such as subsidies and taxes. We design a new look of knowledge spillovers and R&D cooperation to explain the contribution of public and private R&D on growth. We propose a heterogeneous dynamic panel data model to consider the endogenous effect of R&D investment. We also distinguish between the estimated long and short run results. Our results based on a sample of 23 countries over the period 1992-2004 indicate that both public and private investments in R&D are complementary. By establishing an endogenous growth model, the estimates indicate that public and private R&D depends on the host country's human capital investment. Results indicate that foreign direct investment is a more significant spillover channel than imports. |
| Keywords: | R&D investment; Technology Spillovers; Complementarities; Economic growth; Dynamic Panel Data; Cointegration; Unit root test; Private investment; Public investment; R&D cooperation |
| Date: | 2009–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00388525_v1&r=eff |
| By: | Bayo, Alberto (Universidad Publica de Navarra); Galdon-Sanchez, Jose E. (UC-Santa Cruz); Gil, Ricard (UC-Santa Cruz) |
| Abstract: | In this paper we empirically examine the determinants of changes in the organization of production using detailed information on a data set from a new plant-level survey of 1003 plants covering the full range of manufacturing industries in Spain. In particular, and among many other things, survey respondents were asked how service outsourcing practices had changed in the last three years. The answer to this question is indicative of the changes in the importance of backward integration for each of the plants studied. Using other information provided in the survey, we relate the reported changes in outsourcing to changes in other relevant dimensions as possible determinants of the boundaries of the firm. These dimensions are: plant size, downstream market power, cost of inputs, price and quality of the final good and technological progress. Our findings show that outsourcing increases are strongly positively correlated with increases in market share and in market competition. We also find that outsourcing increases when plants face simultaneous increases in product quality and product prices and that it decreases when plants face simultaneous increases in market share and market competition. Finally, we find that multi-plant and one-plant firms adjust their outsourcing practices differently to outside changes. Since neither TCE nor PRT theories of vertical integration fully explain the patterns found in our data, we close this paper by following Adam Smith's claim that the extent of the market seems to be the only factor consistently limiting the degree of specialization in our setting. |
| Keywords: | outsourcing; vertical integration; competition; manufacturing plants; |
| JEL: | L22 L23 L60 |
| Date: | 2009–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:iesewp:d-0783&r=eff |