Approaches to assessing the factors of production and technological development of the national economies: Review of international practice

Autor: E. M. Sabel’nikova, A. A. Pestova, Mikhail Mamonov, A. Yu. Apokin
Rok vydání: 2015
Předmět:
Zdroj: Studies on Russian Economic Development. 26:544-554
ISSN: 1531-8664
1075-7007
DOI: 10.1134/s1075700715060076
Popis: The article provides an overview of methods for measuring the technological progress developed in the last 50–60 years, and analyzing the performance of national economies. A special place is given to production functions as a tool that allows one to give aggregated estimates of technological progress in the frame-work of different ways, including frontier analysis, i.e., (the analysis of stochastic efficiency frontier requires the SFA approach and the envelope method requires the DEA approach) and nonedge analysis (Solow residual). We have analyzed the feasibility of expanding the traditional three-factor model of production functions, including labor, physical, and human capital through the addition of two indicators, i.e., institutional development and provision of infrastructure. A review of variables available in global statistical databases and ability to approximate these production factors has been presented.
Databáze: OpenAIRE
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