Lumpy capital adjustment and technical efficiency

Keiichi Shima

Economics Bulletin, 2010, vol. 30, issue 4, 2817-2824

Abstract: This paper investigates the impact of lumpy capital adjustment on productivity at the firm level using data on Japanese manufacturing industries. We estimate stochastic production frontiers, taking firm heterogeneity into account. We find that investment spikes are negatively related to technical efficiency. Furtermore, we find a negative relationship between machinery capital age and measured efficiency.

JEL-codes: D2 E2 (search for similar items in EconPapers)
Date: 2010-10-28
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Citations: View citations in EconPapers (8)

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