Author
Listed:
- Manrique Díaz, Oscar Gonzalo
- Lemus Polanía, Diego Fernando
Abstract
Resumen: En este trabajo se incluye la energía eléctrica (E) como una tercera variable en la función de producción estándar Cobb-Douglas para determinar su participación en el PIB de Colombia y calcular su elasticidad asociada entre 1925 y 1997. Para tal efecto, se emplean el modelo LINEX y el algoritmo de optimización no lineal de Levenberg-Marquardt, bajo el supuesto de elasticidades de producción no negativas para ajustar la función de producción, corregida y basada en dicho modelo. El análisis se alimenta de las series de PIB, capital (K) y trabajo (L) que elaboró el GRECO para el Banco de la República, y también de una serie temporal de energía eléctrica (E) producida con el patrocinio de Colciencias. Los resultados calculados para las elasticidades asociadas permiten verificar que, en concordancia con los casos de estudio conocidos, la energía eléctrica ha tenido mayor peso en la estructura del PIB que los factores tradicionales. Se concluye que la condición de rendimientos constantes de la función de producción estándar no se aplica a ninguna economía conocida, sea esta de un país desarrollado o no. Abstract: In this work, electrical energy (E) is included as a third variable in the Cobb-Douglas standard production function, to determine its participation in Colombia’s GDP and calculate its associated elasticity between 1925 and 1997. For this purpose, the LINEX model and the Levenberg Marquardt nonlinear optimization algorithm was used, under the assumption of non-negative production elasticities, to adjust the production function, corrected and based on said model. The analysis is fed by the GDP, capital (K) and labor (L) series prepared by GRECO for Banco de la República, and also by a electrical energy (E) time series produced under the sponsorship of Colciencias. The results calculated for the associated elasticities allow to verify that, in accordance with the known case studies, electrical energy has had a greater weight in the structure of GDP than traditional factors. It is concluded that the constant returns condition of the standard production function does not apply to any known economy, whether it is from a developed country or not. Résumé : Dans ce travail, l’énergie électrique (E) est incluse comme troisiéme variable dans la fonction de production standard du type Cobb-Douglas, afin de déterminer sa participation au PIB de Colombie et pouvoir ainsi calculer son élasticité associée entre 1925 et 1997. Pour ce faire, nous utilisons le modéle LINEX et l’algorithme d’optimisation non linéaire de Levenberg-Marquardt, sous l’hypothése d’élasticités de production non négatives. Cette démarche permet d’ajuster et de corrigées la fonction de production. L’analyse est basée sur les séries du PIB, capital (K) et travail (L) que les chercheurs du GRECO ont préparé pour le Banco de la República, ainsi que sur une série chronologique d’énergie électrique (E), laquelle est obtenue grace au parrainage de Colciencias. Les résultats calculés pour les élasticités associées permettent de vérifier que, conformément aux études déja connues, l’énergie électrique a eu un poids plus important dans la structure du PIB par rapport aux facteurs traditionnels. Nous concluons que la condition de rendement constant de la fonction de production standard ne s’applique á aucune économie connue, qu’elle soit ou non développée.
Suggested Citation
Manrique Díaz, Oscar Gonzalo & Lemus Polanía, Diego Fernando, 2020.
"Procedimiento de optimización no lineal para la cuantificación del aporte de la energía eléctrica en el crecimiento económico colombiano, 1925-1997,"
Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue No. 93, pages 65-100, July.
Handle:
RePEc:col:000174:019579
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More about this item
Keywords
crecimiento económico;
elasticidad de un factor;
función de producción LINEX;
procedimiento de ajuste no lineal;
All these keywords.
JEL classification:
- O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- A10 - General Economics and Teaching - - General Economics - - - General
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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