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Verification of technical change and cost and productivity criteria: An empirical study using the World Input–Output Database

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  • Takahiko Hashimoto

Abstract

This study examines the different types of technical change, as categorized by the productivity and cost criteria proposed by previous theoretical studies using data from the World Input–Output Database. The results confirm that in some sectors, the cost criteria are satisfied, but the productivity criteria are not. These technological changes are due to the very large labor input of imported intermediates and the higher monetary wage rate of the recipient country than that of the country supplying the imported intermediates. This study is a valid objection to previous theoretical studies.

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  • Takahiko Hashimoto, 2023. "Verification of technical change and cost and productivity criteria: An empirical study using the World Input–Output Database," Metroeconomica, Wiley Blackwell, vol. 74(3), pages 495-511, July.
    • Handle: RePEc:bla:metroe:v:74:y:2023:i:3:p:495-511
    DOI: 10.1111/meca.12422
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    References listed on IDEAS

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    1. Marcel P. Timmer & Erik Dietzenbacher & Bart Los & Robert Stehrer & Gaaitzen J. Vries, 2015. "An Illustrated User Guide to the World Input–Output Database: the Case of Global Automotive Production," Review of International Economics, Wiley Blackwell, vol. 23(3), pages 575-605, August.
    2. Taiji Hagiwara, 2017. "Labor Value and Exploitation in the Global Economy," Research in Political Economy, in: Return of Marxian Macro-Dynamics in East Asia, volume 32, pages 15-37, Emerald Group Publishing Limited.
    3. Okishio, Nobuo, 1959. "Measurement of the Rate of Surplus Value," Economic Review, Hitotsubashi University, vol. 10(4), pages 297-303, October.
    4. Wolff, Edward N, 1979. "The Rate of Surplus Value, the Organic Composition, and the General Rate of Profit in the U.S. Economy, 1947-67," American Economic Review, American Economic Association, vol. 69(3), pages 329-341, June.
    5. repec:eme:rpec11:s0161-723020170000032003 is not listed on IDEAS
    6. Harry WU & Ximing YUE & George G. ZHANG, 2015. "Constructing Annual Employment and Compensation Matrices and Measuring Labor Input in China," Discussion papers 15005, Research Institute of Economy, Trade and Industry (RIETI).
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