Productivity, Capital Utilization, and Intra-firm Diffusion: A Study of Steel Refining Furnaces
AbstractThis paper examines the intra-firm diffusion of new technology in the Japanese steel industry. The introduction of the basic oxygen furnace was the greatest breakthrough in steel refining in the last century. Using unique panel data concerning capital utiliza- tion, the paper estimates total factor productivity by technology type, and associates the estimate with intra-firm diffusion. Estimation results reveal that the productivity difference between the old and new technologies plays an important role. The paper also finds that in operation, the old technology can better respond to changes in market demand, which brings about counter-cyclicality in the measured productivity.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-471.
Length: 32 pages
Date of creation: Feb 2007
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-02-24 (All new papers)
- NEP-EFF-2007-02-24 (Efficiency & Productivity)
- NEP-HIS-2007-02-24 (Business, Economic & Financial History)
- NEP-TID-2007-02-24 (Technology & Industrial Dynamics)
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