|
on Efficiency and Productivity |
|
Issue of 2010‒01‒23
fifteen papers chosen by |
| By: | Zuniga Gonzalez, Carlos Alberto |
| Abstract: | Presented at: NATIONAL AUTONOMUOS UNIVERSITY OF NICARAGUA, LEON INVESTIGATION VICERECTOR, POSTPGRADUATE AND SOCIAL PROJECTION 2 th SCIENTIFIC CONGRESS ¨THE INVESTIGATION A WAY TO THE KNOWLEGE AND DEVELOPMENT¨ 17 NOVIEMBRE 2009 |
| Keywords: | Stochastic Frontier Production, Forest Police, LSMS-ISA MECOVI, Technical efficiency, Allocative Efficiency., Productivity Analysis, D61, Q12, |
| Date: | 2009–11–17 |
| URL: | http://d.repec.org/n?u=RePEc:ags:miscpa:56196&r=eff |
| By: | Zuniga Gonzalez, Carlos Alberto |
| Abstract: | Presented at: UNIVERSITIES NATIONAL COUNCIL III UNVERSITY SCIENTIFIC CONGRESS 41 ANNIVERSARY OF THE CATHOLIC FARMING LIVESTOCK UNIVERSITY OF THE DRY TROPIC ¨UNIVERSITY, SCIENCE AND TECNOLOGY: A STRATEGY FOR CONFRONTING THE NATIONAL GLOBAL CHALLENGE¨ 23 SEPTEMBER 2009 |
| Keywords: | Stochastic Frontier Production, Forest Police, LSMS-ISA MECOVI, Technical efficiency, Allocative Efficiency., Productivity Analysis, D61, Q12, |
| Date: | 2009–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:ags:miscpa:56197&r=eff |
| By: | Zuniga Gonzalez, Carlos Alberto |
| Abstract: | Presented at: NATIONAL AUTONOMOUS UNIVERSITY OF NICARAGUA, LEON IV AGROFOREST SYMPOSIUM âCONTRIBUTION TO THE AGROFOREST SYSTEM OF SUSTAINABLE MANAGEMENT OF THE LAND, FOR MITIGATION AND CLIMATE CHANGE ADAPTATIONâ 05 â 06 NOVEMBER 2009 |
| Keywords: | Malmquist Index, Technological Change, Technical Efficiency Change, Returns scale efficiency change, total factors productivity, LSMS-ISA MECOVI, Productivity Analysis, D61, Q12, Q23, R38, |
| Date: | 2009–11–05 |
| URL: | http://d.repec.org/n?u=RePEc:ags:miscpa:56198&r=eff |
| By: | Yamamura, Eiji; Shin, Inyong |
| Abstract: | This paper uses panel data from Japan to decompose productivity growth measured by the growth of output per labor unit into three components of efficiency improvement, capital accumulation and technological progress. It then examines their determinants through a dynamic panel model. In particular, this paper focuses on the question of how inequality, trust and humans affect the above components. The main findings derived from empirical estimations are: (1) Inequality impedes not only improvements in efficiency but also capital accumulation. (2) A degree of trust promotes efficiency improvements and capital accumulation at the same time. However, human capital merely enhances improvements in efficiency. |
| Keywords: | Heterogeneity; Inequality; Trust; Data envelopment analysis |
| JEL: | E25 O15 O40 |
| Date: | 2010–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:20083&r=eff |
| By: | Emanuela Marrocu; Raffaele Paci |
| Abstract: | <p>It is well known that firms productivity is influenced by information spillovers generated either by other firms located nearby or by direct contacts with final demand or by foreign demand in the case of traded products. In this paper we investigate a new channel of efficiency - enhancing information spillovers: tourism flows. The idea is that tourists, in general, have preferences for high quality goods and differentiated products which are revealed when they buy local products in the tourism destinations, thus transmitting relevant information to the local firms. The latter, in turn, exploit this new information generating a positive impact on the efficiency level of the local economy. More specifically we examine the effects of tourist flows on regional total factor productivity, within a spatial dynamic model, controlling also for other intangible factors (such as human, social and technological capital) and for the degree of accessibility. We apply the analysis to 199 European regions belonging to the EU15 member countries, plus Switzerland and Norway. The econometric results show the positive impact of tourism flows on regional efficiency levels together with the positive role played by intangible assets, infrastructures and spatial spillovers.</p> |
| Keywords: | tourism, information; total factor productivity; European regions |
| JEL: | R10 O33 L83 D83 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:cns:cnscwp:200910&r=eff |
| By: | Muliaman D. Hadad (Bank Indonesia, Jakarta, Indonesia); Maximilian J. B. Hall (Dept of Economics, Loughborough University); Wimboh Santoso (Bank Indonesia, Jakarta, Indonesia); Karligash Kenjegalieva (Dept of Economics, Loughborough University); Richard Simper (Dept of Economics, Loughborough University) |
| Abstract: | In one of the first stand-alone studies covering the whole of the Indonesian banking industry, and utilising a unique dataset provided by the Indonesian central bank, this paper analyses the levels of intermediation-based efficiency obtaining during the period 2003-2007. Using a new approach (i.e., semi-oriented radial measure Data Envelopment Analysis, or ‘SORM DEA’) to handling negative numbers (Emrouznejad et al., 2010) and combining it with Tone’s (2001) slacks-based model (SBM) to form an input-oriented, non-parametric SORM SBM model, we firstly estimate the relative average efficiencies of Indonesian banks, both overall, by group, as determined by their ownership structure, and by status (‘listed’/’Islamic’). For robustness, a range-directional (RD) model suggested by Silva Portela et al. (2004) was also employed to handle the negative numbers. In the second part of the analysis, we adopt Simar and Wilson’s (2007) bootstrapping methodology to formally test for the impact of size, ownership structure and status on Indonesian bank efficiency. In addition, we formally test the two models most widely suggested in the literature for controlling for bank risk – namely, those involving the inclusion of provisions for loan losses and equity capital respectively as inputs – to check the robustness of the results to the choice of risk variable. The results demonstrate a high degree of sensitivity of the average bank efficiency scores to the choice of methodology for handling negative numbers – with the RD model consistently delivering efficiency scores some 14% on average above those from the SORM SBM model – and to the choice of risk control variable under the RD model, but only a limited sensitivity to the choice of risk control variable under the SORM SBM model. With respect to group rankings, most model combinations find the ‘state-owned’ group to be the most efficient, with average overall efficiency levels ranging between 64% and 97%; while all model combinations find the ‘regional government-owned’ group to be the least efficient, with average overall efficiency levels ranging between 41% and 64%. As for the impact of bank ‘status’ on the efficiency scores, both the Islamic banks and the listed banks perform better than the industry average in the majority of model combinations. Finally, the results for the impact of scale on the efficiency scores are ambiguous. Under the RD model, and irrespective of the choice of risk control variable, size is very important in determining intermediation-based efficiency. Under the SORM SBM model, however, large banks’ performance is not significantly different from that of the medium-sized banks when equity capital is used as the risk control variable, although the medium-sized banks do out-perform small banks. Moreover, when loan loss provisions are used as the risk control variable, medium-sized banks are shown to significantly out-perform both large and small banks, with the large banks being the least efficient. |
| Keywords: | Indonesian Finance and Banking; Efficiency. |
| JEL: | C23 C52 G21 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:lbo:lbowps:2009_20&r=eff |
| By: | Mc Morrow, Kieran (European Commission); Röger, Werner (European Commission) |
| Abstract: | This paper reviews the empirical literature on rates of return on R&D and interprets the economic significance of these estimates using a semi-endogenous growth model with a calibrated knowledge production sector. We analyse how R&D subsidies, a reduction of entry barriers for start-ups and increasing high-skilled labour would contribute towards raising productivity and knowledge investment in the EU. The simulation results show that substantial efforts will have to be made if Europe wants to come close to achieving the Lisbon productivity and knowledge-investment targets. Achieving US standards in all three areas would reduce the productivity gap by about 50 percent. Improving the quality of tertiary education and increasing competition in non-manufacturing sectors would also help the EU to get to the productivity frontier. |
| Keywords: | Productivity differences; endogenous growth; R&D; DSGE models |
| JEL: | E10 O20 O30 O41 |
| Date: | 2009–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:ris:eibpap:2009_004&r=eff |
| By: | Théophile T. Azomahou; Bity Diene; Mbaye Diene (CREA, University of Luxembourg) |
| Abstract: | We use 29 OECD countries data spanning over 1960-2000 to study the growth strategy when countries are close to the technology frontier. Relying on a semi-parametric generalized additive model, we estimate labor productivity equations. We find that the number of agents enrolled in higher education is a determinant of growth. Moreover, when a country is sufficiently near the technology frontier thanks to an increasing R&D expenditure, it becomes optimal to invest in fundamental research, since after a short period of efficiency, business R&D can no longer ensure the transition toward the technology frontier, while higher education presents the opposite shape. These findings support the main assertion of Aghion and Cohen (2004) that countries which are near the technology frontier have to invest in higher education while those far away from the frontier make their technology level growing up by investing in primary and secondary schooling. |
| JEL: | I23 J24 O40 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:luc:wpaper:09-19&r=eff |
| By: | Gabor Bekes; Jorn Kleinert; Farid Toubal |
| Abstract: | Technological and informational spillovers from multinational firms can be particularly beneficial to domestic firms especially in less developed economies. The technological superiority and management experience of foreign multinational firms yield various opportunities for learning. Yet, the importance of foreign firm’s spillovers might vary with respect to the different intensities of the linkage between the multinational and the domestic firm, the differences in firms’ absorptive capacity and their ability to face competition. We show using firm-level Hungarian data that positive spillovers from multinationals depend on the level of productivity and the exporting status of the domestic firm. Larger and more productive firms are more able to reap spillovers from multinationals than smaller and less productive firms. The export status, in contrast, is of minor importance. |
| Keywords: | FDI; multinationals; productivity; spillover; quantile regression |
| JEL: | F23 D21 D24 R12 R30 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2009-31&r=eff |
| By: | Mariya Aleksynska; Ahmed Tritah |
| Abstract: | This paper investigates the contribution of immigration to income and productivity of host countries. Using a dataset constructed from census data and labor force surveys for 20 OECD countries in the period from 1960 to 2005, we explore the information on age and educational attainment of immigrants to assess the contribution of immigration to income components: changes in physical capital, human capital, employment, and total factor productivity. We combine level accounting approach with panel income regressions, and also account for the endogeneity of migration choices to productivity shocks. Our main findings are that, overall, higher shares of immigrants over natives have a positive effect on income and productivity of their host countries. Under the assumption that older immigrants are also the ones with the longest duration of stay, this effect is due to the long run changes in TFP, and is robust to educational disparities between immigrants and natives. The decomposition by age and education suggests that only unskilled immigrants have a non-neutral impact on income and productivity, which is negative in the short run but positive, and larger in magnitude, in the long run. We also find a dispersed impact of the presence of other immigrant groups on some income channels. |
| Keywords: | International migration; productivity; income; employment; instrumental variable; channel accounting |
| JEL: | F22 J24 J31 O31 |
| Date: | 2009–10 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2009-23&r=eff |
| By: | van Ark, Bart (The Conference Board); Hao, Janet X. (The Conference Board); Corrado, Carol (The Conference Board); Hulten, Charles (The Conference Board) |
| Abstract: | This study describes the state of the art in the measurement of intangible capital and its contribution to economic growth, with a focus on an international comparison of intangible capital deepening among eleven advanced economies. By employing a broad measure of intangibles, including computerized information, innovative property and economic competencies, we find a relatively large impact on growth. Intangible capital explains about a quarter of labour-productivity in the US and larger countries of the EU. The continental West-European countries show a distinction between countries with significant contributions from intangible capital deepening and a group of laggards. Catching-up countries such as the Czech Republic, Greece and Slovakia show much larger contributions from tangible capital deepening than from intangibles, and also larger multi-factor productivity (MFP) growth rates related to the restructuring of those countries. |
| Keywords: | Economic growth; productivity; capital; innovation |
| JEL: | O30 O40 |
| Date: | 2009–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:ris:eibpap:2009_003&r=eff |
| By: | Helmers, Christian (University of Oxford); Schulte, Christian (Ludwig-Maximilians-Universität München); Strauss, Hubert (European Investment Bank, Economic and Financial Studies) |
| Abstract: | This study presents new estimates of business R&D capital stocks for 22 countries at the aggregate and industry levels. At 9 percent of GDP, the EU business R&D capital stock falls short of its US and Japanese counterparts. Within the EU, R&D capital stocks are much lower in the southern and the new member states, reflecting large and persistent disparities in R&D expenditure. There was hardly any convergence over the past decade. The R&D capital stock is concentrated on three technologyintensive manufacturing industries and is positively correlated with growth in total factor productivity across countries and industries. Finally, the ratios between the stocks of R&D capital and tangible capital suggest marked differences in how R&D and tangible capital are combined in production. |
| Keywords: | R&D capital stock; R&D expenditure; tangible capital stock; R&D intensity; high-tech manufacturing |
| JEL: | E22 L60 O30 O47 |
| Date: | 2009–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:ris:eibpap:2009_002&r=eff |
| By: | Akay, Gokhan H. (Trinity University); Yuksel, Mutlu (IZA) |
| Abstract: | Using U.S. manufacturing data, Griliches (1969) found evidence suggesting that capital equipment was more substitutable for unskilled than skilled labor. Griliches formulated this finding as the capital-skill complementarity hypothesis. The purpose of this study is to determine whether the capital-skill complementarity framework holds for Ghana manufacturing plants in industry and aggregate level. We use an unbalanced panel of plant-level data for manufacturing firms in Ghana during the 1991 and 1997 in four industries (food-bakery, textiles-garments, wood-furniture and metal-machinery). Our findings suggest that capital-skill complimentarity holds in aggregate level and wood-furniture sector in Ghana. However, we reject the capital-skill complementarity hypothesis for food-bakery, textile-garment and metal-machinery sectors. |
| Keywords: | capital-skill complementarity, elasticity of substitution, translog cost function |
| JEL: | J30 O55 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp4674&r=eff |
| By: | Uhde, André; Heimeshoff, Ulrich |
| Abstract: | Using aggregate balance sheet data from banks across the EU-25 over the period from 1997 to 2005 this paper provides empirical evidence that national banking market concentration has a negative impact on European banks' financial soundness as measured by the Z-score technique while controlling for macroeconomic, bank-specific, regulatory, and institutional factors. Furthermore, we find that Eastern European banking markets exhibiting a lower level of competitive pressure, fewer diversification opportunities and a higher fraction of government-owned banks are more prone to financial fragility whereas capital regulations have supported financial stability across the entire European Union. -- |
| Keywords: | Market structure,Financial stability,Banking regulation |
| JEL: | G21 G28 G34 L16 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwqwdp:022009&r=eff |
| By: | Emanuela Marrocu; Raffaele Paci; M. Pontis |
| Abstract: | Firms competitive strategy in industrialised countries is increasingly based on activities such as the inventions of new processes and products, the improvements of the employees skill, the creation of a reputation for company’s products. All these actions intend to increase firms economic performances and are labelled as “intangible capital”. The aim of this paper is to evaluate the role of intangible capital on firms productivity in addition to the one played by traditional inputs. Firms productivity may also depend on the socio-economic conditions of the region where the firm is located. Therefore, we also control for the physical endowments of the region (public capital, infrastructures) as well as for several types of intangible assets specific to the region (human, technological and social capital) which operate as positive externalities to the localised firms. In our empirical application we employ a large panel of European companies over the period 2002-2006 belonging to 116 regions of six countries. The estimation results show the positive influence of the internal intangible capital on firms productivity levels and also the crucial role played by the intangible assets at the regional level. These results remark the importance of policies designed to stimulate the accumulation of intangible capital stocks internal to the firms through appropriate fiscal policies and to create a favourable external environment based on high endowments of human, social and technological capital. |
| Keywords: | productivity; intangible capital; local externalities; European regions. |
| JEL: | C33 D24 O30 R10 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:cns:cnscwp:200916&r=eff |