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Public and private inputs in aggregate production and growth: a cross-country efficiency approach
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Autores
Orientador(es)
Resumo(s)
In a cross section of OECD countries, we replace the macroeconomic production
function by a production possibility frontier, total factor productivity being the
composite effect of efficiency scores and possibility frontier changes. We consider,
for the periods 1970, 1980, 1990 and 2000 one output – GDP per worker –
and three inputs – human capital, public physical capital per worker and private
physical capital per worker. We use a semi-parametric analysis, computing
Malmquist productivity indexes, and we also resort to stochastic frontier analysis.
Results show that private capital is important for growth, although public and
human capital also contribute positively. A governance indicator, a nondiscretionary
input, explains inefficiency. Better governance helps countries to achieve
a better performance. Nonparametric and parametric results coincide rather
closely on the movements of the countries vis-à-vis the possibility frontier and
on their relative distances to the frontier.
Descrição
Palavras-chave
Economic Growth Public Spending Efficiency Data Envelopment Analysis Malmquist Index
Contexto Educativo
Citação
Afonso, António and Miguel St. Aubyn. (2013)."Public and private inputs in aggregate production and growth: a cross-country efficiency approach" . Applied Economics, Vol. 45, No. 32: pp. 4487-4502.
Editora
Taylor & Francis Group