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Comparison of Stochastic Frontier Models in Application to Analysis on R&D and Production Efficiency (in Korean)

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  • Young Hoon Lee

    (Department of Economics, Sogang University)

Abstract

This paper intends to provide applied economists which study the effects of research and development with valuable information on econometric model selection. It includes extensive discussion on econometric models which have been applied for the study on the relationship between research and development and productivity. In particular, it compares various stochastic production frontier models which have been developed recently. The discussion decomposes them into models with scaling property and the ones with nonscaling property as well as models with monotonic and nonmonotonic relationships between research and development and productivity. Finally, this paper applies the models to two different panel data sets (firm level data and country level data) and compare estimation results from competing econometric models.

Suggested Citation

  • Young Hoon Lee, 2011. "Comparison of Stochastic Frontier Models in Application to Analysis on R&D and Production Efficiency (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, vol. 17(1), pages 103-130, March.
    • Handle: RePEc:bok:journl:v:17:y:2011:i:1:p:103-130
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    More about this item

    Keywords

    Total factor productivity; Research and development; Stochastic production; frontier model; Production efficiency;
    All these keywords.

    JEL classification:

    • L00 - Industrial Organization - - General - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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