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Productivity Measurement, Model Averaging, and World Trends in Growth and Inequality

In: Productivity and Efficiency Analysis

Author

Listed:
  • Robin C. Sickles

    (Rice University)

  • Jiaqi Hao

    (ATB Financial)

  • Chenjun Shang

    (Rice University)

Abstract

Our paper provides new methods to robustify productivity growth measurement by utilizing various economic theories explaining economic growth and productivity and the econometric model generated by that particular theory. We utilize the World Productivity Database from the UNIDO to analyze productivity during the period 1960–2010 for OECD countries. We focus on three competing models from the stochastic frontier literature, Cornwell et al. (J Econ 46(1):185–200, 1990), Kumbhakar (J Econ 46(1):201–211, 1990) and Battese, Coelli (J Prod Anal 3(1–2):153–169, 1992) to estimate productivity growth and its decomposition into technical change and efficiency change and utilize methods due to Hansen (2010) to construct optimal weights in order to model average the results from these three approaches.

Suggested Citation

  • Robin C. Sickles & Jiaqi Hao & Chenjun Shang, 2016. "Productivity Measurement, Model Averaging, and World Trends in Growth and Inequality," Springer Proceedings in Business and Economics, in: William H. Greene & Lynda Khalaf & Robin Sickles & Michael Veall & Marcel-Cristian Voia (ed.), Productivity and Efficiency Analysis, edition 1, chapter 0, pages 305-323, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-23228-7_17
    DOI: 10.1007/978-3-319-23228-7_17
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    References listed on IDEAS

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    1. Balk,Bert M., 2012. "Price and Quantity Index Numbers," Cambridge Books, Cambridge University Press, number 9781107404960, November.
    2. Jushan Bai, 2009. "Panel Data Models With Interactive Fixed Effects," Econometrica, Econometric Society, vol. 77(4), pages 1229-1279, July.
    3. COELLI, Tim, 2000. "On the econometric estimation of the distance function representation of a production technology," LIDAM Discussion Papers CORE 2000042, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    Cited by:

    1. Glass, Anthony J. & Kenjegalieva, Karligash & Ajayi, Victor & Adetutu, Morakinyo & Sickles, Robin C., 2016. "Relative Winners and Losers from Efficiency Spillovers in Africa with Policy Implications for Regional Integration," Working Papers 16-003, Rice University, Department of Economics.

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