Input-output relationship, marginal productivity and marginal rate of technical substitution provide a useful insight about the potentiality of manufacturing firms. This study analyzes these important issues to describe the optimality in resource utilization of the manufacturing firms in the south-west region of Bangladesh. A translog production function has been estimated to describe the input...

When capital taxes are used to finance a public good, capital mobility reduces efficiency since it narrows the tax base. This motivates the concern that capital mobility might also interfere with unilateral efforts to provide the public good of environmental quality through pollution taxes. I show in this paper that capital mobility does not affect efficiency in a small open economy, even thoug...

We decompose labor-productivity growth into components attributable to (1) technological change (shifts in the world production frontier), (2) technological catch-up (movements toward or away from the frontier), (3) human capital accumulation (changes in the efficiency of labor), and (4) physical capital accumulation (movement along the frontier). The world production frontier is constructed us...

What factors underlie industry differences in research intensity and productivity growth? We develop a multi-sector endogenous growth model allowing for industry specific parameters in the production functions for output and knowledge, and in consumer preferences. We find that long run industry differences in both productivity growth and R&D intensity mainly reflect differences in "technologica...

As a result of debt enforcement problems, many high-productivity firms in emerging economies are unable to pledge enough future profits to their creditors and this constrains the financing they can raise. Many have argued that, by relaxing these credit constraints, reforms that strengthen enforcement institutions would increase capital flows to emerging economies. This argument is based on a pa...

Structural transformation is a process by which the relative contribution of nonagricultural sectors to the overall economy rises as agriculture’s share declines in relative terms. In absolute terms, however, agriculture continues to grow and contribute to overall economic growth. Agricultural productivity growth and increased farm incomes are prerequisites for structural transformation. Increa...

This paper provides a star comparison of manufacturing productivity levels in China, India, Indonesia, South Korea and Taiwan with the US as the reference country for the period 1963-1993. South Korea and Taiwan showed prolonged catch up in labour productivity with the US, whereas the other countries had long periods of relative stagnation. This is reflected in relative performance of seven det...

This paper develops a model in which measured total factor productivity (TFP) is endogenously determined, in order to quantitatively explain the following three facts of the Japanese growth miracle between 1956 and 1973. First, the growth rate of GDP per unit of labor in the second half of this period was 7.9 percent while in the first half it was only 5.5 percent. Second, the rate of return to...

Part 1 of this paper (http://www.paecon.net/PAEReview/issue59/Moseley59.pdf) argued that the marginal productivity theory of distribution has fundamental and insoluble logical problems: (1) the aggregate production function is not a legitimate concept, because capital consists of diverse buildings and equipment that cannot be reasonably aggregated into a total quantity for the economy as a whol...

Technological upgrading and increases in capital intensity have been championed in the organized manufacturing sector in India on the grounds that such measures improve productivity, efficiency and competitiveness. In a developing economy, these are costly propositions. Also, the effect of technological changes on productivity and efficiency levels must be estimated before implementing such pol...