Comparison of Stochastic Frontier Models in Application to Analysis on R&D and Production Efficiency (in Korean)

Young Hoon Lee

Economic Analysis (Quarterly), 2011, vol. 17, issue 1, 103-130

Abstract: This paper intends to provide applied economists which study the effects of research and development with valuable information on econometric model selection. It includes extensive discussion on econometric models which have been applied for the study on the relationship between research and development and productivity. In particular, it compares various stochastic production frontier models which have been developed recently. The discussion decomposes them into models with scaling property and the ones with nonscaling property as well as models with monotonic and nonmonotonic relationships between research and development and productivity. Finally, this paper applies the models to two different panel data sets (firm level data and country level data) and compare estimation results from competing econometric models.

Keywords: Total factor productivity; Research and development; Stochastic production; frontier model; Production efficiency (search for similar items in EconPapers)
JEL-codes: C21 L00 O47 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:bok:journl:v:17:y:2011:i:1:p:103-130

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