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Sektorowe funkcje produkcji - wnioski z modeli panelowych dla Polski

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  • Ulrichs, Magdalena
  • Gosińska, Emilia

Abstract

The main aim of the study is to assess the impact of various forms of capital on the formation of gross value added in individual segments of the Polish economy. The parameters of production functions describing the impact of variables representing physical capital and labour on gross value added in Poland were estimated on the basis of the Cobb-Douglas function. Panel data for individual Polish provinces covering the 2003–2015 period were used for the estimation. Due to the possible correlation of explanatory variables with the random component, the parameters were estimated by a fully modified least squares method. The results of the study confirm the existence of differences between the impact of individual factors of production on gross value added in various segments of the Polish economy. In most segments, the elasticities of production with respect to labour are greater than the corresponding elasticities with respect to capital. Statistically significant technical and organisational progress was also confirmed. The statistical significance of unobservable fixed effects for individual provinces was also confirmed for all types of economic activity.

Suggested Citation

  • Ulrichs, Magdalena & Gosińska, Emilia, 2020. "Sektorowe funkcje produkcji - wnioski z modeli panelowych dla Polski," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2020(2), June.
    • Handle: RePEc:ags:polgne:359209
    DOI: 10.22004/ag.econ.359209
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    References listed on IDEAS

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