Imperfect Competition and Total Factor Productivity Growth in U.S. Food Processing

Azzeddine Azzam, Elena Lopez and Rigoberto Lopez

No 68, Food Marketing Policy Center Research Reports from University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy

Abstract: This article examines the role of imperfect competition in determining total factor productivity growth (TFPG) by bringing together a New Empirical Industrial Organization (NEIO) model and the TFPG model of Nadiri and Mamuneas (1998). Applying the integrated model to 1973-92 data from 29 food processing industries revealed that changes in markups, economies of scale, and demand growth contributed positively to TFPG while the disembodied technical change was a negative contributor. Furthermore, the TFPG estimates are starkly different from the conventional (Solow's residual) TFPG measures, underscoring the need to account for imperfect competition, returns to scale, and demand in analyses of this type.

Keywords: productivity growth; imperfect competition; scale economies; food processing; Agribusiness; Industrial Organization; Productivity Analysis (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:zwi:fpcrep:068

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