Produkčná (ne)homogenita regiónov Slovenska

Production (Non)Homogeneity Across Slovak Regions

Filip Ostrihoň and Zlatica Ivaničová

Politická ekonomie, 2015, vol. 2015, issue 5, 641-657

Abstract: Slovakia is a unitary state with a common legal and macroeconomic environment for all regions. However, such environment may hinder regions with production setting, different from the majority of the regions. Hence, the aim of the following paper is to present an empirical analysis of the production technologies used across Slovak regions and to identify potential regional differences. For this purpose two-factor Cobb-Douglas production function was analysed, using annual historical panel data for NUTS 3 Slovak regions. The panel-data structure allowed the distinguishing of the differences in capital and labour elasticities between the analysed regions and the average of the rest of the regions. Additionally, the same methodology was performed with Cobb-Douglas model built on the first differences of the used data. The results of the two approaches indicate that region "Banskobystrický kraj" has significantly different production setting for capital and labour input than the rest of Slovak regions.

Keywords: panel data; Slovakia; Cobb-Douglas production function; estimation; NUTS 3; stock of capital (search for similar items in EconPapers)
JEL-codes: C23 E23 R15 R30 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.18267/j.polek.1017

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