Imperfect Competition and Total Factor Productivity Growth in U.S. Food Processing
AbstractThis article examines the role of imperfect competition in determining total factor productivity growth (TFPG) by bringing together a New Empirical Industrial Organization (NEIO) model and the TFPG model of Nadiri and Mamuneas (1998). Applying the integrated model to 1973-92 data from 29 food processing industries revealed that changes in markups, economies of scale, and demand growth contributed positively to TFPG while the disembodied technical change was a negative contributor. Furthermore, the TFPG estimates are starkly different from the conventional (Solow's residual) TFPG measures, underscoring the need to account for imperfect competition, returns to scale, and demand in analyses of this type.
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Bibliographic InfoPaper provided by University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy in its series Food Marketing Policy Center Research Reports with number 068.
Date of creation: 2002
Date of revision:
productivity growth; imperfect competition; scale economies; food processing; Agribusiness; Industrial Organization; Productivity Analysis;
Other versions of this item:
- Azzam, Azzeddine M. & Lopez, Elena & Lopez, Rigoberto A., 2002. "Imperfect Competition and Total Factor Productivity Growth in U.S. Food Processing," Research Reports 25147, University of Connecticut, Food Marketing Policy Center.
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