Factor productivity and technical change

Subal Kumbhakar

Applied Economics Letters, 2003, vol. 10, issue 5, 291-297

Abstract: This paper deals with (i) decomposing total factor productivity growth into input-specific components, (ii) measuring input-specific productivity/efficiency growth, and (iii) testing several neutrality hypotheses in technical change. These issues are addressed in a general framework without assuming any functional form on the underlying production technology, and without imposing any structure on the behaviour of input productivity/efficiency growth. Using NBER panel data on 450 U.S. manufacturing industries for the period 1959--1992, it is found that technical change can be characterized by neither Hicks, Harrod, nor Solow neutral form. It is also found that productivity of capital has increased, on average by 6.5%, whereas those of labour and material declined by 5.10% and 0.4%, respectively.

Date: 2003
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DOI: 10.1080/1350485031000077349

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