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Production Functions Estimates for Soviet Industry and Some Implications

Author

Listed:
  • Oldrich Kyn

    (Boston University)

  • Hans-Juergen Wagener

    (Europa Universitat Viadrina, Frankfurt Oder)

  • Joerg Hocke

    (----)

Abstract

This study presents estimation of production functions for the Soviet industry from the 1951—1970 data. Different specifications and estimation procedures were tried. The results diverged on a wide range and this may have serious implications. The paper shows possible effects of different parameter estimates on the growth potential of the Soviet industry as represented by a steady state growth rate according to a very simple neo-classical model. This does not necessarily imply that such a model is truly representative of the Soviet-type economy, however, the growth potential can very well serve to demonstrate the difficulties stemming from the errors in estimated parameters.

Suggested Citation

  • Oldrich Kyn & Hans-Juergen Wagener & Joerg Hocke, 2005. "Production Functions Estimates for Soviet Industry and Some Implications," Econometrics 0511003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpem:0511003
    Note: Type of Document - doc
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/em/papers/0511/0511003.doc
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    More about this item

    Keywords

    Production Function; Cobb-Douglas; CES; Growth Model;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

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