DOES ECONOMIC FREEDOM AFFECT THE PRODUCTION FRONTIER? A SEMIPARAMETRIC APPROACH WITH PANEL DATA.
This paper applies a multistep semiparametric stochastic production frontier estimator to investigate the effects of economic freedom (EF) on the production frontier and technical efficiency. We allow output elasticities and technical efficiency to depend on EF, estimate a smooth coefficient stochas...
| Publicado en: | Economic Inquiry Vol. 56; no. 2; pp. 1380 - 1396 |
|---|---|
| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Apr2018
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=128133110&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 128133110 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Apr2018 vid: 56 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 128133110 10.1111/ecin.12548 ppf: 1380 ppct: 16 formats: fmt: – @attributes: type: T – @attributes: type: P size: 456KB tig: atl: DOES ECONOMIC FREEDOM AFFECT THE PRODUCTION FRONTIER? A SEMIPARAMETRIC APPROACH WITH PANEL DATA. aug: au: Zhang, Fan Hall, Joshua Yao, Feng affil: Assistant Professor, Department of Business Management, Ripon College, Ripon, WI 54971 Associate Professor, Department of Economics, West Virginia University, Morgantown, WV 26506 su: Marginal productivity Human capital Economic liberty Production possibility curve Capital sug: subj: Marginal productivity Human capital Economic liberty Production possibility curve Capital ab: This paper applies a multistep semiparametric stochastic production frontier estimator to investigate the effects of economic freedom (EF) on the production frontier and technical efficiency. We allow output elasticities and technical efficiency to depend on EF, estimate a smooth coefficient stochastic production frontier, and compare with parametric alternatives. Our results highlight the flexibility of semiparametric approaches as we find parametric approaches are too restrictive in estimating marginal productivity. Output elasticities of labor, human capital, and physical capital vary with the level of EF and our average efficiency estimates are at least 20% higher than those obtained from parametric counterparts. (<italic>JEL</italic> C14, O43) pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|