scholarly journals Read All about It!! What Happens Following a Technology Shock?

2011 ◽  
Vol 101 (4) ◽  
pp. 1144-1179 ◽  
Author(s):  
Michelle Alexopoulos
Keyword(s):  
Information Technology ◽  
Total Factor Productivity ◽  
Technical Change ◽  
Economic Activity ◽  
New Technologies ◽  
Technology Shocks ◽  
Factor Productivity ◽  
Technology Shock ◽  
Impact Of Technology ◽  
The Impact

Existing indicators of technical change are plagued by shortcomings. I present new measures based on books published in the field of technology that resolve many of these problems and use them to identify the impact of technology shocks on economic activity. They are positively linked to changes in R&D and scientific knowledge, and capture the new technologies' commercialization dates. Changes in information technology are found to be important sources of economic fluctuations in the post-WWII period, and total factor productivity, investment, and, to a lesser extent, labor are all shown to increase following a positive technology shock. (JEL E22, E23, E32, O33, O34, O47)

Impact of Determinants of Industrial Development on Employment and Wages in Indian Manufacturing

2020 ◽  
pp. 18-30
Keyword(s):  
Technical Efficiency ◽  
Total Factor Productivity ◽  
Technical Change ◽  
Positive Impact ◽  
Manufacturing Sector ◽  
Factor Productivity ◽  
Firm Level ◽  
Employment Level ◽  
The Impact ◽  
Level Performance

ABSTRACT The present study was undertaken to explore the evolution of the impact of firm-level performance on employment level and wages in the Indian organized manufacturing sector over the period 1989-90 to 2013-14. One of the major components of the economic reform package was the deregulation and de-licensing in the Indian organized manufacturing sector. The impact of firm-level performance on employment and wages were estimated for Indian organized manufacturing sector in major sub-sectors in India during the period from 1989-90 to 2013-14 of the various variables namely profitability ratio, total factor productivity change, technical change, technical efficiency, openness (export-import), investment intensity, raw material intensity and FECI in total factor productivity index, technical efficiency, and technical change. The study exhibited that all explanatory variables except profitability ratio and technical change cost had a positive impact on the employment level. Out of eight variables, four variables such as net of foreign equity capital, investment intensity, TFPCH, and technical efficiency change showed a positive impact on wages and salary ratio and rest of the four variables such as openness intensity, technology acquisition index, profitability ratio, and technical change had negative impact on wages and salary ratio. In this context, the profit ratio should be distributed as per the marginal rule of economics such as the marginal productivity of labour and capital.

scholarly journals BIASED TECHNICAL CHANGE, INTERMEDIATE GOODS, AND TOTAL FACTOR PRODUCTIVITY

2011 ◽  
Vol 16 (2) ◽  
pp. 184-203 ◽  
Author(s):  
Alessio Moro
Keyword(s):  
Total Factor Productivity ◽  
Production Function ◽  
Technical Change ◽  
Value Added ◽  
Intermediate Goods ◽  
Factor Productivity ◽  
Aggregate Production ◽  
Tfp Growth ◽  
Aggregate Production Function ◽  
The Impact

In this paper I show that the intensity at which intermediate goods are used in the production process affects aggregate total factor productivity (TFP). To do this, I construct an input–output model economy in which firms produce gross output by means of a production function in capital, labor, and intermediate goods. This production function is subject, together with the standard neutral technical change, to intermediates-biased technical change. Positive (negative) intermediates-biased technical change implies a decline (increase) in the elasticity of gross output with respect to intermediate goods. In equilibrium, this elasticity appears as an explicit part of TFP in the value added aggregate production function. In particular, when the elasticity of gross output with respect to intermediates increases, aggregate TFP declines. I use the model to quantify the impact of intermediates-biased technical change for measured TFP growth in Italy. The exercise shows that intermediates-biased technical change can account for the productivity slowdown observed in Italy from 1994 to 2004.

scholarly journals MENGUKUR KORELASI ANTARA TINGKAT KEMAPANAN TATA KELOLA TEKNOLOGI INFORMASI DENGAN PRODUKTIVITAS PERUSAHAAN

2012 ◽  
Vol 7 (1) ◽  
pp. 34
Author(s):  
Budi Yuwono ◽  
Annas Vijaya
Keyword(s):  
Information Technology ◽  
Total Factor Productivity ◽  
Business Strategy ◽  
Corporate Strategy ◽  
Single Case ◽  
Statistical Tests ◽  
Factor Productivity ◽  
Model Framework ◽  
Control Objective ◽  
The Impact

Banyak literatur yang memaparkan manfaat penyelarasan antara Strategi Sistem Informasi/Teknologi Informasi (SI/TI) dengan strategi bisnis bagi keberhasilan organisasi. Penelitian ini dilakukan untuk melihat korelasi antara tingkat kemapanan suatu perusahaan dalam menyelaraskan strategi SI/TI dengan strategi bisnisnya dan produktivitas perusahaan tersebut. Penelitian ini dilakukan melalui studi kasus tunggal pada perusahaan perdagangan barang dan jasa teknologi informasi. Model yang digunakan dalam menilai tingkat kemapanan penyelarasan strategi SI/TI terhadap strategi bisnis adalah model tingkat kemapanan menurut kerangka kerja Control Objective for Information and Related Technology (COBIT). Ukuran produktivitas yang digunakan dalam penelitian ini adalah Total Factor Productivity (TFP). Melalui pengujian statistik non-parametrik dengan koefisien korelasi peringkat Spearman, tidak ditemukan korelasi positif antara tingkat kemapanan perusahaan dalam menyelaraskan strategi SI/TI dengan strategi bisnisnya dan produktivitas perusahaan. Sebagai kesimpulannya, dampak tingkat kemapanan penyelarasan strategi SI/TI melalui tata kelola TI terhadap produktivitas suatu organisasi tidak selalu dapat diukur dengan membandingkan keduanya dalam periode tahun yang sama. Much of the literature describing the benefits of alignment between Strategy Information Systems/Information Technology (IS/IT) with business strategy for the success of the organization. The study was conducted to see the correlation between the level of reliability of a company's strategy in aligning IS/IT with business strategy and company productivity. The research was conducted through a single case study on trade in goods and services enterprise information technology. The model used in assessing the reliability of the alignment of strategy IS/IT to business strategy is a model framework for the establishment by the Control Objective for Information and Related Technology (COBIT). Productivity measures used in this study is Total Factor Productivity (TFP). Through the non-parametric statistical tests with Spearman rank correlation coefficient, was not found a positive correlation between the level of maturity in aligning corporate strategy IS/IT with business strategy and corporate productivity. In conclusion, the impact of strategic alignment maturity level of IS/IT through IT governance on the productivity of an organization can not always be measured by comparing the two in the same period.

scholarly journals Analysis of Impact of New Technologies in Metallurgy on the Industry Production Function and Total Factor Productivity

2019 ◽  
Vol 14 (3) ◽  
pp. 132-151
Keyword(s):  
Total Factor Productivity ◽  
Production Function ◽  
New Technologies ◽  
New Technology ◽  
Open Hearth ◽  
Metallurgical Industry ◽  
World Market ◽  
Electric Melting ◽  
Factor Productivity ◽  
The Impact

Identification of positive conditions for structural transformation of industries in the Russian economy and also formation of a scientific base for development of practical recommendations for industrial policy are extremely important for the fulfillment of national goals set forth in the Presidential Decree No. 204 dated May 7, 2018. From the early 2000s up till now, development of the Russian metal industry has been characterized by gradual abandonment of the traditional method of steelmaking in open-hearth furnaces as well as transition to a more progressive electric melting technology. The article assesses the impact of this technology change on total factor productivity (TFP) of metallurgical enterprises and on the functional form of the production function in the industry for the period 2008–2017, as well as the factors of transition to the new technology for metallurgical companies. The results show that the transition to the new technology was accompanied by a 24–28% increase in TFP as well as changes in the parameters of the production function, in particular, a decrease in labor and material intensity of production. An analysis of the factors influencing the likelihood of transition to the new technology has confirmed our hypotheses: the process of assets consolidation in the metallurgical industry under the control of several holdings in the 2000s was accompanied by technological re-equipment of production and construction of new facilities. Enterprises that are part of a single financial and industrial group with higher productivity and access to the world market are characterized by a higher probability of transition to the new technology. In addition, estimates of the likelihood of transition to the new technology are higher for enterprises with higher levels of productivity.

Examining the Impact and Influencing Channels of Emission Trading Pilot Markets in China

2020 ◽  
Vol 11 (1) ◽  
pp. 136-136
Author(s):  
Qiong Wu ◽  
Kanittha Tambunlertchai ◽  
Pongsa Pornchaiwiseskul
Keyword(s):  
Total Factor Productivity ◽  
Co2 Emission ◽  
Carbon Emission ◽  
Emission Trading ◽  
Chinese Government ◽  
Synergy Effect ◽  
Factor Productivity ◽  
Plan Period ◽  
Carbon Emission Trading ◽  
The Impact

The global warming has become a serious issue in the world since the 1980s. The targets for the first commitment period of the Kyoto Protocol cover emissions of the six main greenhouse gasses (GHGs). China is the world's largest CO2 emitter and coal consumer and was responsible for 27.3 percent of the global total CO2 emission and 50.6 percent of the global total coal consumption in 2016 (BP, 2017). As China plays an important role in the global climate change, China has set goals to improve its environmental efficiency and performance. In 2011, the Chinese government for the first time announced an intent to establish carbon emission trading market in China. Eight regional emission trading schemes have been operating since 2013 (seven pilot markets during the 12th Five Year Plan period and one pilot market during the 13th Five Year Plan period) including provinces of Guangdong, Hubei, and Fujian, and cities of Beijing, Tianjin, Shanghai, Shenzhen, and Chongqing. The goal of these regional emission trading pilot markets is to help the government establish an efficient carbon emission trading scheme at national level. Some researchers have been focused on examining the impact of emission trading schemes in China using CGE model by constructing different scenarios and ex-ante analysis using data prior to emission trading pilot markets implementation. While this paper tries to conduct an ex-post analysis with data of 2005-2017 to evaluate the impact of emission trading pilot markets in China at provincial level using difference-in-difference (DID) model. By including both CO2 and SO2 as undesirable outputs to calculate Malmquist-Luenberger (ML) Index to measure green total factor productivity, this paper plans to evaluate the impact of carbon emission trading pilot markets in China via emission reduction, regional green development, synergy effect and influencing channels. This paper tries to answer the following research questions: (1) Do emission trading pilot markets reduce CO2 emission and increase regional green total factor productivity? (2) Is there any synergy effect from emission trading pilot markets? (3) What are the influencing channels of emission trading pilot markets? Keywords: Emission trading, CO2 emissions, Different-in-difference

Impact of Nanotechnology Patents on Green Development of China's Building Industry

2020 ◽  
Vol 14 (2) ◽  
pp. 141-152
Author(s):  
Xialing Sun ◽  
Rui Zhang ◽  
Xue Chen ◽  
Pengpeng Li ◽  
Jin Guo
Keyword(s):  
Total Factor Productivity ◽  
Inhibitory Effect ◽  
Building Industry ◽  
Factor Productivity ◽  
The Sustainable Development ◽  
Technological Support ◽  
Green Development ◽  
Panel Data Regression ◽  
The Impact ◽  
Building Engineering

Background: The sustainable development of the building industry has drawn increasing attention around the world. Nanomaterials and nanotechnology play an important role in the processes of energy saving and reducing consumption in the building industry. Nanotechnology patents provide key technological support for the green development of the building industry. Based on patent data in China, this paper quantitatively analyzed the application of nanotechnology patents in the building industry and the time trend, regional differences, and evolution of China's nano-patent applications in the building field. Methods: In this study, the environmental total factor productivity of the building industry considering carbon constraints was determined and then used as the dependent variable to measure the green development of the building industry. On this basis, a panel data regression model was constructed to determine the impact of nano-patents on the green development of the building industry. Results: Nanotechnology patents in the building industry can significantly improve total factor productivity. From the perspective of patent composition, technology-based patents that focus on substantial innovation can significantly promote the green development of the building industry, whereas strategic patents show a significant inhibitory effect. Regionally, the western region of China has the advantage of being less developed and thus more efficient than the central and eastern regions in the application of new nano-products. Finally, the research also showed a significant lag in the application of China's nanotechnology patents and low implementation efficiency. Conclusion: Nano patents can promote green development in the building industry, but there is room for improvement in the speed with which laboratory inventions are transformed into building engineering applications.

scholarly journals Impact of Migrant Workers on Total Factor Productivity in Chinese Construction Industry

2019 ◽  
Vol 11 (3) ◽  
pp. 926 ◽  
Author(s):  
Gui Ye ◽  
Yuhe Wang ◽  
Yuxin Zhang ◽  
Liming Wang ◽  
Houli Xie ◽  
...  
Keyword(s):  
Construction Industry ◽  
Total Factor Productivity ◽  
Migrant Workers ◽  
Annual Report ◽  
Learning By Doing ◽  
Construction Sector ◽  
Factor Productivity ◽  
The Sustainable Development ◽  
Statistical Yearbook ◽  
The Impact

Total factor productivity (TFP) is of critical importance to the sustainable development of construction industry. This paper presents an analysis on the impact of migrant workers on TFP in Chinese construction sector. Interestingly, Solow Residual Approach is applied to conduct the analysis through comparing two scenarios, namely the scenario without considering migrant workers (Scenario A) and the scenario with including migrant workers (Scenario B). The data are collected from the China Statistical Yearbook on Construction and Chinese Annual Report on Migrant Workers for the period of 2008–2015. The results indicate that migrant workers have a significant impact on TFP, during the surveyed period they improved TFP by 10.42% in total and promoted the annual average TFP growth by 0.96%. Hence, it can be seen that the impact of migrant workers on TFP is very significant, whilst the main reason for such impact is believed to be the improvement of migrant workers’ quality obtained mainly throughout learning by doing.

scholarly journals The Impact of Participation in PPP Projects on Total Factor Productivity of Listed Companies in China

2021 ◽  
Vol 13 (14) ◽  
pp. 7603
Author(s):  
Xiangdong Liu ◽  
Guangxi Cao
Keyword(s):  
Total Factor Productivity ◽  
High Speed ◽  
Operation Mode ◽  
Listed Companies ◽  
Financing Constraints ◽  
Eastern Region ◽  
Time Varying ◽  
Factor Productivity ◽  
The Impact ◽  
China’S Economy

The key to transforming China’s economy from high-speed growth to high-quality development is to improve total factor productivity (TFP). Based on the panel data of China’s listed companies participating in PPP (Public–Private Partnerships) projects from 2010 to 2019, this paper constructs the time-varying DID method to test the impact of participation in PPP projects on the company’s TFP empirically, explore the mechanism of the effect of participation in PPP projects on the company’s TFP, and then conduct heterogeneous analysis from four perspectives: region, industry, ownership form, and operation mode. The empirical results show that participation in PPP projects can significantly promote the growth of the company’s TFP, which mainly comes from the promotion of the innovation level of listed companies and the alleviation of financing constraints by participating in PPP projects. In addition, participation in PPP projects has a significant impact on TFP of listed companies in the eastern region, listed companies in the secondary and tertiary industries, state-owned listed companies, and listed companies participating in PPP projects under the BOT mode.

scholarly journals Oil Price Uncertainty, Globalization, and Total Factor Productivity: Evidence from the European Union

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3429
Author(s):  
Svetlana Balashova ◽  
Apostolos Serletis
Keyword(s):  
European Union ◽  
Total Factor Productivity ◽  
New Technologies ◽  
Innovation System ◽  
Price Volatility ◽  
Oil Price ◽  
Price Uncertainty ◽  
The European Union ◽  
Factor Productivity ◽  
Tfp Growth

This paper uncovers linkages between oil price uncertainty, total factor productivity (TFP) growth, and critical indicators of knowledge production and spillovers. It contributes to the literature by investigating the effects of oil price volatility on TFP growth, controlling for two different channels for TFP growth; benefits from the quality of the national innovation system and from adopting new technologies. We use an unbalanced panel for 28 European Union countries for the period from 1990 to 2018. We find that oil price uncertainty has a negative and statistically significant effect on TFP growth, even after we control for technological advancements and the effects of globalization. We also find that the scale of research and innovation and international trade are positive contributors to TFP growth.

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