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Empirical analysis of production fonction of Bosnia and Herzegovina for the period 1952-1989

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  • Rabija SOMUN

Abstract

In this study, different production functions were analysed and applied to the industry of Bosnia Herzegovina for the period 1952-1989. Econometric applications consist of estimating specifications of the Cobb-Douglas production function, of the Solow-Nelson and of the constant-elasticity of substition production function for following periods: 1952-1965, 1966-1989. The obtained results for Cobb-Douglas production estimation function regarding constant returns to scale are acceptable for all studied periods. The Solow-Nelson is acceptable only for the period 1966-1989. The results of production function of constant returns to scale were not accepted. Therefore it seems that the contribution of capital was a key factor in Bosnia Herzegovina\'s growh during the studied periods.

Suggested Citation

  • Rabija SOMUN, 2001. "Empirical analysis of production fonction of Bosnia and Herzegovina for the period 1952-1989," Working Papers of BETA 2001-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    • Handle: RePEc:ulp:sbbeta:2001-15
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    Keywords

    Production fonction- Applications econometric- Growth - Bosnia and Herzegovina.;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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