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Productive Capital and Technical Efficiency in the UE-15

  • Maria Jesus Delgado

    ()

  • Inmaculada Alvarez

    ()

In this research we examine the capitalization process in the UE-15 with the aim to establish if the evolution manteined in the last two decades for the public capital and its distribution related private capital have conditioned the technical efficiency of the European economies. In this analysis we use the frontier function approach that allows to consider an inefficiency use of the productive factors. Specifically, we employ the parametric stochastic frontier model from Battese and Coelli (1995) to explore the determinants of the technical efficiency. The results show that larger endowments of public capital may facilitate the access of the productive activity to the levels of the more efficient members. We also find a limit to the capacity of introducing improvements in the use of productive factors, and it is related to private capital, then if the increase of public capital does not lead to an optimal distribution of this factor, the effect on efficiency will be negative.

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File URL: http://www-sre.wu-wien.ac.at/ersa/ersaconfs/ersa03/cdrom/papers/43.pdf
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Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa03p43.

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Date of creation: Aug 2003
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Handle: RePEc:wiw:wiwrsa:ersa03p43
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  1. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-36, July.
  2. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-32.
  3. Joaquín Maudos Villarroya & José Manuel Pastor Monsálvez & Lorenzo Serrano Martínez, 1998. "- Human Capital In Oecd Countries: Technical Change, Efficency And Productivity," Working Papers. Serie EC 1998-19, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Joaquín Maudos Villarroya & José Manuel Pastor Monsálvez & Lorenzo Serrano Martínez, 1997. "Convergencia en las regiones españolas: cambio técnico, eficiencia y productividad," Working Papers. Serie EC 1997-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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  6. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  7. Sala-i-Martin, Xavier X., 1996. "Regional cohesion: Evidence and theories of regional growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1325-1352, June.
  8. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
  9. Kodde, David A & Palm, Franz C, 1986. "Wald Criteria for Jointly Testing Equality and Inequality Restriction s," Econometrica, Econometric Society, vol. 54(5), pages 1243-48, September.
  10. Jonathan R. W. Temple, 1998. "Robustness tests of the augmented Solow model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 13(4), pages 361-375.
  11. Lorenzo Serrano Martínez, 1995. "Indicadores De Capital Humano Y Productividad," Working Papers. Serie EC 1995-16, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  12. Mercedes Gumbau Albert & Joaquín Maudos Villarroya, 1996. "Eficiencia productiva sectorial en las regiones españolas: una aproximación frontera," Working Papers. Serie EC 1996-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  13. Kyriacou, George A., 1991. "Level and Growth Effects of Human Capital: A Cross-Country Study of the Convergence Hypothesis," Working Papers 91-26, C.V. Starr Center for Applied Economics, New York University.
  14. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November.
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