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Economic Capacity Utilisation And Productivity Growth In Greek Agriculture

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  • Panos Fousekis
  • Aspasia Papakonstantinou

Abstract

The rate of economic capacity utilisation of the capital stock and the rate of TFP growth are assessed for the agricultural sector in Greece. The empirical results suggest that capital in this sector has been over‐utilised throughout 1971–93. The mean value of the rate of economic capacity utilisation has been 1.477, that is, 48 per cent above the full equilibrium rate. The average rate of TFP growth per annum under the assumption of short–run capital fixity has been 1.29 per cent, while under the assumption of full equilibrium it has been 1.41 per cent. These results indicate that assuming, incorrectly, full equilibrium biases the annual rate of productivity growth upwards.

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  • Panos Fousekis & Aspasia Papakonstantinou, 1997. "Economic Capacity Utilisation And Productivity Growth In Greek Agriculture," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1‐3), pages 38-51, January.
    • Handle: RePEc:bla:jageco:v:48:y:1997:i:1-3:p:38-51
    DOI: 10.1111/j.1477-9552.1997.tb01129.x
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    2. Kristiaan Kerstens & Jafar Sadeghi & Ignace Van de Woestyne & Linjia Zhang, 2022. "Malmquist productivity indices and plant capacity utilisation: new proposals and empirical application," Annals of Operations Research, Springer, vol. 315(1), pages 221-250, August.
    3. Giannis Karagiannis & George Mergos, 2000. "Total Factor Productivity Growth and Technical Change in a Profit Function Framework," Journal of Productivity Analysis, Springer, vol. 14(1), pages 31-51, July.
    4. Mamatzakis, E. C., 2003. "Public infrastructure and productivity growth in Greek agriculture," Agricultural Economics, Blackwell, vol. 29(2), pages 169-180, October.
    5. Grzelak Aleksander, 2017. "The Processes Of Reproduction Of Assets And Their Selected Determinants In Farms Engaged In Agricultural Accountancy (Fadn) In Poland," Journal of Agribusiness and Rural Development, University of Life Sciences, Poznan, Poland, vol. 44(2), June.

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