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Conceptualization and Measurement of Productivity Growth and Technical Change: A Nonparametric Approach

In: Handbook of Production Economics

Author

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  • Subhash C. Ray

    (University of Connecticut)

Abstract

The famous Solow residual measures productivity change as the difference between the growth rates of output and input. Under constant returns to scale and in the absence of any technical inefficiency, it serves as a measure of technical change. In neoclassical production economics, productivity change can be measured alternatively from the production, cost, profit, or distance functions. In continuous time analysis, one measures the rates of productivity and technical change. In discrete time, one measures indexes of productivity and technical change over time. This chapter describes the Tornqvist, Fisher, and Malmquist productivity indexes along with the Luenberger productivity indicator based on the directional distance function and how they relate to one another. Also discussed is the relation between productivity and profitability of a firm. The relevant nonparametric DEA models for measuring the Malmquist index and the Luenberger productivity indicator are formulated for nonparametric analysis of productivity, technical change, and change in efficiency.

Suggested Citation

  • Subhash C. Ray, 2022. "Conceptualization and Measurement of Productivity Growth and Technical Change: A Nonparametric Approach," Springer Books, in: Subhash C. Ray & Robert G. Chambers & Subal C. Kumbhakar (ed.), Handbook of Production Economics, chapter 20, pages 821-870, Springer.
    • Handle: RePEc:spr:sprchp:978-981-10-3455-8_26
    DOI: 10.1007/978-981-10-3455-8_26
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    Cited by:

    1. Subhash C. Ray, 2022. "Choice of Inputs and Outputs for Production Analysis," Springer Books, in: Subhash C. Ray & Robert G. Chambers & Subal C. Kumbhakar (ed.), Handbook of Production Economics, chapter 26, pages 1083-1116, Springer.

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