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Productivity, Efficiency, Scale Economies and Technical Change: A New Decomposition Analysis

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  • Jiro Nemoto
  • Mika Goto

Abstract

This paper aims to examine the productivity change of the Japanese economy using the data pertaining to the 47 prefectures during the period 1981-2000. The decomposition analysis of the Hicks-Moorsteen-Bjurek productivity index is conducted to explore the sources of the productivity change. In summary, technical change and efficiency change are two of the most important components driving procyclical productivity. We find that their relative importance varies over periods. Supply shocks captured by technical change component caused upturns in productivity in the mid and late 80s and in 1999 and 2000. Supply shocks also caused downturns in the early and mid 90s. On the other hand, demand shocks captured by the efficiency change component drove upturns of productivity in 1984, 1990, and 1996 when supply shocks were not detected.

Suggested Citation

  • Jiro Nemoto & Mika Goto, 2005. "Productivity, Efficiency, Scale Economies and Technical Change: A New Decomposition Analysis," NBER Working Papers 11373, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:11373
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    Cited by:

    1. Robert Elliott & Supreeya Virakul, 2010. "Multi-product firms and exporting: a developing country perspective," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 146(4), pages 635-656, December.
    2. Walter Briec & Kristiaan Kerstens, 2011. "The Hicks–Moorsteen Productivity Index Satisfies The Determinateness Axiom," Manchester School, University of Manchester, vol. 79(4), pages 765-775, July.

    More about this item

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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