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Chinese Industrial Productivity: Trends, Measurement Issues, and Recent Developments
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- Jintao Xu & William F. Hyde & Gregory S. Amacher, 2003. "China¡¯S Paper Industry: Growth And Environmental Policy During Economic Reform," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 28(1), pages 49-79, June.
- Lu, Ding, 2001. "Industrial policy and resource allocation: implications on China's participation in globalization," China Economic Review, Elsevier, vol. 11(4), pages 342-360.
- Smyth, Russell, 2000. "Should China be Promoting Large-Scale Enterprises and Enterprise Groups?," World Development, Elsevier, vol. 28(4), pages 721-737, April.
- Selin Ozyurt, 2009.
"Total Factor Productivity Growth in Chinese Industry: 1952-2005,"
Oxford Development Studies, Taylor & Francis Journals, vol. 37(1), pages 1-17.
- Selin Ozyurt, 2007. "Total Factor Productivity Growth in Chinese Industry: 1952-2005," Working Papers 07-13, LAMETA, Universtiy of Montpellier, revised Nov 2007.
- Wu, Yanrui, 2000. "Is China's economic growth sustainable? A productivity analysis," China Economic Review, Elsevier, vol. 11(3), pages 278-296.
- Ding Lu, 2002. "Sectoral Factor Reallocation And Productivity Growth: Recent Trends In The Chinese Economy," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 27(2), pages 95-111, December.
- Bhaumik, Sumon Kumar & Estrin, Saul, 2007.
"How transition paths differ: Enterprise performance in Russia and China,"
Journal of Development Economics, Elsevier, vol. 82(2), pages 374-392, March.
- Bhaumik, Sumon K. & Estrin, Saul, 2005. "How Transition Paths Differ: Enterprise Performance in Russia and China," IZA Discussion Papers 1484, Institute of Labor Economics (IZA).
- Estrin, Saul & Bhaumik, Sumon Kumar, 2005. "How Transition Paths Differ: Enterprise Performance in Russia and China," CEPR Discussion Papers 4937, C.E.P.R. Discussion Papers.
- Sumon Bhaumik & Saul Estrin, 2005. "How Transition Paths Differ: Enterprise Performance in Russia and China," William Davidson Institute Working Papers Series wp744, William Davidson Institute at the University of Michigan.
- Miaojie Yu, 2010.
"Processing Trade, Firm's Productivity, and Tariff Reductions : Evidence from Chinese Products,"
Macroeconomics Working Papers
22799, East Asian Bureau of Economic Research.
- Miaojie Yu, 2010. "Processing Trade, Firms Productivity, and Tariff Reductions : Evidence from Chinese Products," Trade Working Papers 22873, East Asian Bureau of Economic Research.
- Wing Thye Woo, 2001. "Recent Claims of China's Economic Exceptionalism: Reflections Inspired by WTO Accession," CID Working Papers 70A, Center for International Development at Harvard University.
- Yang, Ling & Lahr, Michael L., 2010. "Sources of Chinese labor productivity growth: A structural decomposition analysis, 1987-2005," China Economic Review, Elsevier, vol. 21(4), pages 557-570, December.
- Lin, Boqiang & Bai, Rui, 2020. "Dynamic energy performance evaluation of Chinese textile industry," Energy, Elsevier, vol. 199(C).
- Jeffrey Sachs & Wing Thye Woo, 2003. "China's Economic Growth After WTO Membership," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 1(1), pages 1-31.
- Holz, Carsten A., 2006.
"New capital estimates for China,"
China Economic Review, Elsevier, vol. 17(2), pages 142-185.
- Carsten A Holz, 2005. "New Capital Estimates for China," Macroeconomics 0512001, University Library of Munich, Germany.
- Carsten A. Holz, 2005. "New Capital Estimates for China," Development and Comp Systems 0504011, University Library of Munich, Germany.
- Chenggang Xu, 2011.
"The Fundamental Institutions of China's Reforms and Development,"
Journal of Economic Literature, American Economic Association, vol. 49(4), pages 1076-1151, December.
- Chenggang Xu, 2024. "The Fundamental Institutions of China's Reforms and Development," CEMA Working Papers 621, China Economics and Management Academy, Central University of Finance and Economics.
- repec:lan:wpaper:3655 is not listed on IDEAS
- Zheng, Jinghai & Liu, Xiaoxuan & Bigsten, Arne, 2003.
"Efficiency, technical progress, and best practice in Chinese state enterprises (1980-1994),"
Journal of Comparative Economics, Elsevier, vol. 31(1), pages 134-152, March.
- Zheng, Jinghai & Liu, Xiaxuan & Bigsten, Arne, 2000. "Efficiency, Technical Progress, and Best Practice in Chinese State Enterprises (1980-1994)," Working Papers in Economics 30, University of Gothenburg, Department of Economics.
- Henderson, Daniel J. & Tochkov, Kiril & Badunenko, Oleg, 2007. "A drive up the capital coast? Contributions to post-reform growth across Chinese provinces," Journal of Macroeconomics, Elsevier, vol. 29(3), pages 569-594, September.
- Xiaolan Fu, 2005. "Exports, technical progress and productivity growth in a transition economy: a non-parametric approach for China," Applied Economics, Taylor & Francis Journals, vol. 37(7), pages 725-739.
- Kui-Wai Li, 2003.
"China's Capital and Productivity Measurement Using Financial Resources,"
Working Papers
851, Economic Growth Center, Yale University.
- Kui-Wai Li, 2004. "China's Capital and Productivity Measurement Using Financial Resources," Yale School of Management Working Papers ysm338, Yale School of Management.
- Li, Kui-Wai, 2003. "China's Capital and Productivity Measurement Using Financial Resources," Center Discussion Papers 28469, Yale University, Economic Growth Center.
- Jun Zhang, 2008. "China's Economic Growth: Trajectories and Evolving Institutions," WIDER Working Paper Series RP2008-33, World Institute for Development Economic Research (UNU-WIDER).
- Liu, Tung & Li, Kui-Wai, 2006.
"Disparity in factor contributions between coastal and inner provinces in post-reform China,"
China Economic Review, Elsevier, vol. 17(4), pages 449-470.
- Tung Liu & Kui-Wai Li, 2005. "Disparity in Factor Contributions between Coastal and Inner Provinces in Post-reform China," Working Papers 200502, Ball State University, Department of Economics, revised Apr 2006.
- Xiaolan Fu & V. N. Balasubramanyam, 2003.
"Township and Village Enterprises in China,"
Journal of Development Studies, Taylor & Francis Journals, vol. 39(4), pages 27-46.
- V N Balasubramanyam & X Fu, 2002. "Township and village enterprises in China," Working Papers 539923, Lancaster University Management School, Economics Department.
- Sumon Bhaumik & Saul Estrin, 2003. "Why Transition Paths Differ: Russian and Chinese Enterprise Performance Compared," William Davidson Institute Working Papers Series 525, William Davidson Institute at the University of Michigan.
- repec:lan:wpaper:3764 is not listed on IDEAS
- repec:lan:wpaper:4049 is not listed on IDEAS
- Yanrui Wu & Zhao Dingtao, 2011. "Global Integration and Agricultural Productivity in China," Chapters, in: Matthew Tonts & M. A.B. Siddique (ed.), Globalisation, Agriculture and Development, chapter 7, Edward Elgar Publishing.
- Naubahar Sharif & Can Huang, 2009.
"Cross-border Investment and Economic Integration: The Case of Guangdong Province and Hong Kong SAR,"
Chapters, in: Wilfred Dolfsma & Geert Duysters & Ionara Costa (ed.), Multinationals and Emerging Economies, chapter 6,
Edward Elgar Publishing.
- Sharif, Naubahar & Huang, Can, 2008. "Cross-border Investment and Economic Integration: The Case of Guangdong Province and Hong Kong SAR," MERIT Working Papers 2008-035, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Rawski, Thomas G. & Mead, Robert W., 1998. "On the trail of China's phantom farmers," World Development, Elsevier, vol. 26(5), pages 767-781, May.
- Sonobe, Tetsushi & Hu, Dinghuan & Otsuka, Keijiro, 2006. "Industrial development in the inland region of China: A case study of the motorcycle industry," Journal of Comparative Economics, Elsevier, vol. 34(4), pages 818-838, December.
- Sean M. Dougherty & Robert H. McGuckin, 2001.
"The Effect of Ownership Structure and Jurisdictional Governance on Productivity in Chinese Enterprises,"
Economics Program Working Papers
02-01, The Conference Board, Economics Program, revised Jan 2002.
- Sean M. Dougherty & Robert H. McGuckin, 2004. "The Effects of Federalism and Privatization on Productivity in Chinese Firms," Development and Comp Systems 0411016, University Library of Munich, Germany.
- Movshuk, Oleksandr, 2004. "Restructuring, productivity and technical efficiency in China's iron and steel industry, 1988-2000," Journal of Asian Economics, Elsevier, vol. 15(1), pages 135-151, February.
- Ito, Junichi, 2006. "Economic and institutional reform packages and their impact on productivity: A case study of Chinese township and village enterprises," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 167-190, March.
- Jun Zhang, 2008. "Estimation of China's provincial capital stock (1952-2004) with applications," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 6(2), pages 177-196.
- Tetsushi Sonobe & Keijiro Otsuka, 2004.
"Productivity Effects of TVE Privatization: The Case Study of Garment and Metal-Casting Enterprises in the Greater Yangtze River Region,"
NBER Chapters, in: Governance, Regulation, and Privatization in the Asia-Pacific Region, pages 231-247,
National Bureau of Economic Research, Inc.
- Tetsushi Sonobe & Keijiro Otsuka, 2003. "Productivity Effects of TVE Privatization: The Case Study of Garment and Metal Casting Enterprises in the Greater Yangtze River Region," NBER Working Papers 9621, National Bureau of Economic Research, Inc.
- Deqiang Liu & Yanyun Zhao, 2006. "Ownership, Foreign Investment and Productivity--A Case Study of the Automotive Industry in China," Microeconomics Working Papers 21892, East Asian Bureau of Economic Research.
- Jun Du & Sourafel Girma & Holger Görg & Ignat Stepanok, 2023.
"Who wins and who loses from state subsidies?,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(3), pages 1007-1031, August.
- Du, Jun & Girma, Sourafel & Görg, Holger & Stepanok, Ignat, 2022. "Who Wins and Who Loses from State Subsidies?," IZA Discussion Papers 15249, Institute of Labor Economics (IZA).
- Du, Jun & Girma, Sourafel & Görg, Holger & Stepanok, Ignat, 2022. "Who wins and who loses from state subsidies?," Kiel Working Papers 2220, Kiel Institute for the World Economy (IfW Kiel).
- Azza El-Shinnawy, 2010. "Trends of Total Factor Productivity in Egypt’s Pharmaceutical Industry: Evidence from the Nonparametric Malmquist Index Approach," Working Papers 524, Economic Research Forum, revised 05 Jan 2010.
- Xu, Cheng-Gang, 2010. "The Institutional Foundations of China?s Reforms and Development," CEPR Discussion Papers 7654, C.E.P.R. Discussion Papers.
- Meng, Rujing & Ning, Xiangdong & Zhou, Xianming & Zhu, Hongquan, 2011. "Do ESOPs enhance firm performance? Evidence from China's reform experiment," Journal of Banking & Finance, Elsevier, vol. 35(6), pages 1541-1551, June.
- Daniel Berkowitz & Hong Ma & Shuichiro Nishioka, 2017.
"Recasting the Iron Rice Bowl: The Reform of China's State-Owned Enterprises,"
The Review of Economics and Statistics, MIT Press, vol. 99(4), pages 735-747, July.
- Daniel Berkowitz, 2016. "Recasting the Iron Rice Bowl: The Reform of China's State Owned Enterprises," Working Paper 5858, Department of Economics, University of Pittsburgh.
- Justin Yifu Lin, 2006. "Chinese Rural Industrialisation in the Context of the East Asian Miracle," Working Papers id:647, eSocialSciences.
- Lixin Colin Xu & Tian Zhu & Yi‐min Lin, 2005. "Politician control, agency problems and ownership reform," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(1), pages 1-24, January.
- Wang, Yan & Yao, Yudong, 2003. "Sources of China's economic growth 1952-1999: incorporating human capital accumulation," China Economic Review, Elsevier, vol. 14(1), pages 32-52.
- Wang, Zijian & Wei, Jiegen, 2004. "Structural Change, Capital’s Contribution, and Economic Efficiency: Sources of China’s Economic Growth Between 1952-1998," Working Papers in Economics 130, University of Gothenburg, Department of Economics, revised 05 Apr 2004.
- Saul Estrin & Jan Hanousek & Evzen Kocenda & Jan Svejnar, 2009.
"The Effects of Privatization and Ownership in Transition Economies,"
Journal of Economic Literature, American Economic Association, vol. 47(3), pages 699-728, September.
- Estrin, Saul & Hanousek, Jan & Kocenda, Evzen & Svejnar, Jan, 2009. "Effects of privatization and ownership in transition economies," Policy Research Working Paper Series 4811, The World Bank.
- Qing Gong, Yang, 2004. "Entry, Exit and the Dynamics of Productivity Growth in Chinese Manufacturing Industry," Working Papers wp284, Centre for Business Research, University of Cambridge.
- Sonobe, Tetsushi & Hu, Dinghuan & Otsuka, Keijiro, 2004. "From inferior to superior products: an inquiry into the Wenzhou model of industrial development in China," Journal of Comparative Economics, Elsevier, vol. 32(3), pages 542-563, September.
- Li, Minqi, 2004. "Aggregate Demand, Productivity, and "Disguised Unemployment" in the Chinese Industrial Sector," World Development, Elsevier, vol. 32(3), pages 409-425, March.
- Xiaolan Fu, 2004. "Exports, Technical Progress and Productivity Growth in Chinese Manufacturing Industries," Working Papers wp278, Centre for Business Research, University of Cambridge.
- Jun, Zhang, 2003. "Investment, investment efficiency, and economic growth in China," Journal of Asian Economics, Elsevier, vol. 14(5), pages 713-734, October.
- Yiping Huang, 2010. "China's Great Ascendancy and structural risks: consequences of asymmetric market liberalisation," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 24(1), pages 65-85, May.
- Anderson, Kym & Dimaranan, Betina V. & Hertel, Thomas W. & Martin, William J., 1997.
"Asia-Pacific food markets and trade in 2005: a global, economy-wide perspective,"
Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 41(1), pages 1-26.
- Anderson, Kym & Dimaranan, Betina & Hertel, Thomas W & Martin, Will, 1996. "Asia-Pacific Food Markets and Trade in 2005: A Global, Economy-wide Perspective," CEPR Discussion Papers 1474, C.E.P.R. Discussion Papers.
- Wang, Lili & Szirmai, Adam, 2008.
"Regional Capital Inputs in Chinese Industry and Manufacturing, 1978-2003,"
MERIT Working Papers
2008-028, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Wang, Lili & Szirmai, Adam, 2008. "Regional Capital Inputs in Chinese Industry and Manufacturing, 1978-2003," GGDC Research Memorandum GD-99, Groningen Growth and Development Centre, University of Groningen.
- Wang, Lili & Szirmai, Adam, 2012. "Capital inputs in the Chinese economy: Estimates for the total economy, industry and manufacturing," China Economic Review, Elsevier, vol. 23(1), pages 81-104.
- Robert Elliott & Ying Zhou, 2013.
"State-owned Enterprises, Exporting and Productivity in China: A Stochastic Dominance Approach,"
The World Economy, Wiley Blackwell, vol. 36(8), pages 1000-1028, August.
- Robert Elliott & Ying Zhou, 2013. "State-Owned Enterprises, Exporting and Productivity in China: A Stochastic Dominance Approach," Discussion Papers 13-03, Department of Economics, University of Birmingham.
- Oleg Badunenko & Daniel J. Henderson & Valentin Zelenyuk, 2008.
"Technological Change and Transition: Relative Contributions to Worldwide Growth During the 1990s,"
Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 70(4), pages 461-492, August.
- Oleg Badunenko & Daniel J. Henderson & Valentin Zelenyuk, 2007. "Technological Change and Transition: Relative Contributions to Worldwide Growth during the 1990s," Discussion Papers of DIW Berlin 740, DIW Berlin, German Institute for Economic Research.
- Harry X. Wu, 2007. "Measuring Productivity Performance by Industry in China, 1980-2005," International Productivity Monitor, Centre for the Study of Living Standards, vol. 15, pages 55-74, Fall.
- Wing Thye Woo, 2003. "Recent Claims of China's Economic Exceptionalism: Reflections Inspired by WTO Accession," Working Papers 13, University of California, Davis, Department of Economics.
- Claro, Sebastian, 2006. "Supporting inefficient firms with capital subsidies: China and Germany in the 1990s," Journal of Comparative Economics, Elsevier, vol. 34(2), pages 377-401, June.
- Harry WU, 2012. "Measuring Gross Output, Value Added, Employment and Labor Productivity of the Chinese Economy at Industry Level, 1987-2008 — An Introduction to the CIP Database (Round 1.0)," Discussion papers 12066, Research Institute of Economy, Trade and Industry (RIETI).
- Xiaodong Zhu, 2012. "Understanding China's Growth: Past, Present, and Future," Journal of Economic Perspectives, American Economic Association, vol. 26(4), pages 103-124, Fall.
- Boeing, Philipp & Mueller, Elisabeth & Sandner, Philipp, 2016.
"China's R&D explosion—Analyzing productivity effects across ownership types and over time,"
Research Policy, Elsevier, vol. 45(1), pages 159-176.
- Boeing, Philipp & Mueller, Elisabeth & Sandner, Philipp, 2015. "China's R&D explosion: Analyzing productivity effects across ownership types and over time," ZEW Discussion Papers 15-006, ZEW - Leibniz Centre for European Economic Research.
- Xiaozu Wang & Lixin Colin Xu & Tian Zhu, 2004. "State‐owned enterprises going public The case of China," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(3), pages 467-487, September.
- Huang, Can & Sharif, Naubahar, 2009. "Manufacturing dynamics and spillovers: The case of Guangdong Province and Hong Kong, Macau, and Taiwan (HKMT)," Research Policy, Elsevier, vol. 38(5), pages 813-828, June.
- Wing Thye Woo, 2003. "Recent Claims of China's Economic Exceptionalism: Reflections Inspired by WTO Accession," Working Papers 321, University of California, Davis, Department of Economics.
- Holz, Carsten A., 2002. "Long live China's state-owned enterprises: deflating the myth of poor financial performance," Journal of Asian Economics, Elsevier, vol. 13(4), pages 493-529.
- Aivazian, Varouj A. & Ge, Ying & Qiu, Jiaping, 2005. "Corporate governance and manager turnover: An unusual social experiment," Journal of Banking & Finance, Elsevier, vol. 29(6), pages 1459-1481, June.
- Jing Cao & Mun S. Ho, 2010. "Changes in China's Energy Intensity: Origins and Implications for Long-Term Carbon Emissions and Climate Policies," EEPSEA Research Report rr2010126, Economy and Environment Program for Southeast Asia (EEPSEA), revised Dec 2010.
- Bai, Chong-en & Li, David D. & Wang, Yijiang, 1997. "Enterprise Productivity and Efficiency: When Is Up Really Down?," Journal of Comparative Economics, Elsevier, vol. 24(3), pages 265-280, June.
- Alberto GABRIELE, 2001. "Science And Technology Policies, Industrial Reform And Technical Progress In China. Can Socialist Property Rights Be Compatible With Technological Catching Up?," UNCTAD Discussion Papers 155, United Nations Conference on Trade and Development.
- Jie Zhang, 2013. "Infrastructure, Industrial Productivity and Regional Specialization in China," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-034, Keio/Kyoto Joint Global COE Program.
- Russell Smyth & He-Ling Shi, 2002. "Ownership reform and total factor productivity growth in Chinese industry," Applied Economics Letters, Taylor & Francis Journals, vol. 9(2), pages 103-106.
- Liu, Tung & Li, Kui-Wai, 2012. "Analyzing China's productivity growth: Evidence from manufacturing industries," Economic Systems, Elsevier, vol. 36(4), pages 531-551.
- repec:dgr:rugggd:gd-99 is not listed on IDEAS
- Xunpeng Shi & R. Grafton, 2010. "Efficiency impacts of the Chinese industrial transition: a quantitative evaluation of reforms in the coal industry," Economic Change and Restructuring, Springer, vol. 43(1), pages 1-19, February.
- Y. Wu, 1997. "Productivity & Efficiency: Evidence from the Chinese regional economies," Economics Discussion / Working Papers 97-18, The University of Western Australia, Department of Economics.
- Shiu, Alice & Heshmati, Almas, 2006.
"Technical Change and Total Factor Productivity Growth for Chinese Provinces: A Panel Data Analysis,"
Ratio Working Papers
98, The Ratio Institute.
- Shiu, Alice & Heshmati, Almas, 2006. "Technical Change and Total Factor Productivity Growth for Chinese Provinces: A Panel Data Analysis," IZA Discussion Papers 2133, Institute of Labor Economics (IZA).
- O'Connor, Neale G. & Deng, Johnny & Luo, Yadong, 2006. "Political constraints, organization design and performance measurement in China's state-owned enterprises," Accounting, Organizations and Society, Elsevier, vol. 31(2), pages 157-177, February.
- Dr James Laurenceson, 2002. "The Impact of Stock Markets on China's Economic Development: Some Preliminary Assessments," Discussion Papers Series 302, School of Economics, University of Queensland, Australia.
- Du, Jun & Liu, Xiaoxuan & Zhou, Ying, 2014. "State advances and private retreats? — Evidence of aggregate productivity decomposition in China," China Economic Review, Elsevier, vol. 31(C), pages 459-474.
- Jintao Xu & William Hyde & Yongjie Ji, 2010. "Effective pollution control policy for China," Journal of Productivity Analysis, Springer, vol. 33(1), pages 47-66, February.
- WU, Jidong & LI, Ning & SHI, Peijun, 2014. "Benchmark wealth capital stock estimations across China's 344 prefectures: 1978 to 2012," China Economic Review, Elsevier, vol. 31(C), pages 288-302.
- Li, Kui-Wai, 2009. "China's total factor productivity estimates by region, investment sources and ownership," Economic Systems, Elsevier, vol. 33(3), pages 213-230, September.
- Kui‐yin Cheung & Chengze Fan, 1998. "Post‐reform productivity performance in Guangdong: 1978–94," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 3(3), pages 379-387.
- Long, Zhiming & Herrera, Rémy, 2016. "Building original series of physical capital stocks for China's economy methodological problems, proposals for solutions and a new database," China Economic Review, Elsevier, vol. 40(C), pages 33-53.
- Watanabe, Michio & Tanaka, Katsuya, 2007. "Efficiency analysis of Chinese industry: A directional distance function approach," Energy Policy, Elsevier, vol. 35(12), pages 6323-6331, December.
- Woo, Wing Thye, 2001. "Recent claims of China's economic exceptionalism: Reflections inspired by WTO accession," China Economic Review, Elsevier, vol. 12(2-3), pages 107-136.
- Jefferson, Gary H. & Rawski, Thomas G. & Li, Wang & Yuxin, Zheng, 2000. "Ownership, Productivity Change, and Financial Performance in Chinese Industry," Journal of Comparative Economics, Elsevier, vol. 28(4), pages 786-813, December.
- Feng-Cheng Fu & Chu-Ping Vijverberg & Yong-Sheng Chen, 2008. "Productivity and efficiency of state-owned enterprises in China," Journal of Productivity Analysis, Springer, vol. 29(3), pages 249-259, June.
- Wang, Feng & Liu, Xiying & Nguyen, Tue Anh, 2018. "Evaluating the economic impacts and feasibility of China's energy cap: Based on an Analytic General Equilibrium Model," Economic Modelling, Elsevier, vol. 69(C), pages 114-126.