Public and private inputs in aggregate production and growth: a cross-country efficiency approach
| Autor: | Miguel St. Aubyn, António Afonso |
|---|---|
| Rok vydání: | 2013 |
| Předmět: |
Economics and Econometrics
economic growth public spending efficiency Malmquist index Economic Growth Efficiency Malmquist index public spending Efficiency Production–possibility frontier jel:F14 Microeconomics Stochastic frontier analysis Physical capital Data Envelopment Analysis Economic Growth Capital deepening Data envelopment analysis Econometrics Economics Capital intensity Productivity Total factor productivity Public Spending Malmquist Index |
| Zdroj: | Applied Economics. 45:4487-4502 |
| ISSN: | 1466-4283 0003-6846 |
| DOI: | 10.1080/00036846.2013.791018 |
| Popis: | In a cross section of OECD countries, we replace the macroeconomic production function by a production possibility frontier, total factor productivity being the composite effect of efficiency scores and possibility frontier changes. We consider, for the periods 1970, 1980, 1990 and 2000 one output – GDP per worker – and three inputs – human capital, public physical capital per worker and private physical capital per worker. We use a semi-parametric analysis, computing Malmquist productivity indexes, and we also resort to stochastic frontier analysis. Results show that private capital is important for growth, although public and human capital also contribute positively. A governance indicator, a nondiscretionary input, explains inefficiency. Better governance helps countries to achieve a better performance. Nonparametric and parametric results coincide rather closely on the movements of the countries vis-à-vis the possibility frontier and on their relative distances to the frontier. info:eu-repo/semantics/publishedVersion |
| Databáze: | OpenAIRE |
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