Heterogeneity, Trust, Human Capital and Productivity Growth: Decomposition Analysis

Eiji Yamamura () and Inyong Shin

Journal of Economics and Econometrics, 2012, vol. 55, issue 2, 51-77

Abstract: This paper uses panel data from Japan to decompose productivity growth measured by the growth of output per labour unit into three components of efficiency improvement, capital accumulation and technological progress. It then examines their determinants through a dynamic panel model. This paper focuses on how inequality, trust and humans affect the above components. The main findings derived from empirical estimations are: (1) Inequality impedes not only improvements in efficiency but also capital accumulation. (2) A degree of trust promotes efficiency improvements and capital accumulation at the same time. However, human capital merely enhances improvements in efficiency.

Keywords: Heterogeneity; inequality; trust; data envelopment analysis. (search for similar items in EconPapers)
JEL-codes: E25 O15 O4 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (7)

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Related works:
Working Paper: Heterogeneity, trust, human capital and productivity growth: Decomposition analysis (2010)
Working Paper: Heterogeneity, trust, human capital and productivity growth: Decomposition analysis (2007)
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