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Dynamic Models of Productivity and Efficiency

In: Efficiency, Market Dynamics and Industry Growth

Author

Listed:
  • Jati Sengupta
  • Phillip Fanchon

Abstract

In recent times competition has been most intense in the modern high-tech industries such as microelectronics, semiconductors and personal computers. Product and process innovations, economies of scale and learning by doing have intensified the competitive pressure leading to the decline in unit production costs and prices. Thus the average industry productivity growth (i.e. total factor productivity growth in a specific high-tech industry) has achieved a rate of 2.0% growth per year over the period 1958–96 for the US electronic equipment, which includes semiconductors and communications equipment. High productivity growth led to falling unit costs and prices. Our object here is to formulate a set of nonparametric and semi-parametric models of dynamic production and cost frontiers.

Suggested Citation

  • Jati Sengupta & Phillip Fanchon, 2009. "Dynamic Models of Productivity and Efficiency," Palgrave Macmillan Books, in: Efficiency, Market Dynamics and Industry Growth, chapter 5, pages 114-137, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24866-3_5
    DOI: 10.1057/9780230248663_5
    as

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