scholarly journals Analysis on the Relationship Between Climatic Variation and Total Factor Productivity of Manufacture Industries of Korea

2016 ◽  
Vol 25 (2) ◽  
pp. 277-297
Author(s):  
Young Jun Choi ◽  
Hyun Yong Park
Keyword(s):  
Total Factor Productivity ◽  
Climatic Variation ◽  
Factor Productivity ◽  
The Relationship

scholarly journals The Relationship Between Public Expenditures, Total Factor Productivity and Economic Growth: A Panel Data Analysis

2021 ◽  
Author(s):  
Remzi Can Yılmaz ◽  
Ahmet Rutkay Ardoğan
Keyword(s):  
Economic Growth ◽  
Total Factor Productivity ◽  
Developing Economies ◽  
Panel Data Analysis ◽  
Statistical Significance ◽  
Data Availability ◽  
Public Expenditures ◽  
Annual Data ◽  
Factor Productivity ◽  
The Relationship

According to the economics literature, there are two main sources of economic growth. While the first of the resources is the accumulation of production factors, the other is the part of the output that cannot be explained by the amount of input used in production, in other words, the total factor productivity. The level of total factor productivity is measured according to how efficiently the inputs are used in the production process. In this study, the hypothesis that public spending affects real economic growth through total productivity is investigated. In the first stage, whether the changes in public expenditures affect the total factor productivity or not; if it does, to what extent and in what direction it has been tried to be revealed. In the second stage, the effect of total factor productivity on economic growth was examined and the statistical significance, direction and extent of the relationship between variables were investigated. Annual data were used in the study and the year range is 2000-2017. The sampling economies were selected according to data availability, and there are a total of 20 developed and developing economies. Research was conducted using multiple panel regression analysis. According to the findings, the relationship between public expenditures and total factor productivity is statistically significant. An increase in public expenditures reduces the total factor productivity. The relationship between total factor productivity and economic growth is statistically significant, and an increase in total factor productivity also increases economic growth. An increase in public expenditures affects economic growth negatively by reducing the total factor productivity.

scholarly journals The Relationship between Environmental Regulation and Green Total Factor Productivity in China: An Empirical Study Based on the Panel Data of 177 Cities

2020 ◽  
Vol 17 (15) ◽  
pp. 5287 ◽  
Author(s):  
Mingliang Zhao ◽  
Fangyi Liu ◽  
Wei Sun ◽  
Xin Tao
Keyword(s):  
Economic Development ◽  
Panel Data ◽  
Environmental Regulation ◽  
Total Factor Productivity ◽  
Inflection Point ◽  
Factor Productivity ◽  
Positive Effects ◽  
Development Level ◽  
The Mean ◽  
The Relationship

Promoting the coordinated development of industrialization and the environment is a goal pursued by all of the countries of the world. Strengthening environmental regulation (ER) and improving green total factor productivity (GTFP) are important means to achieving this goal. However, the relationship between ER and GTFP has been debated in the academic circles, which reflects the complexity of this issue. This paper empirically tested the relationship between ER and GTFP in China by using panel data and a systematic Gaussian Mixed Model (GMM) of 177 cities at the prefecture level. The research shows that the relationship between ER and GTFP is complex, which is reflected in the differences and nonlinearity between cities with different monitoring levels and different economic development levels. (1) The relationship between ER and GTFP is linear and non-linear in different urban groups. A positive linear relationship was found in the urban group with high economic development level, while a U-shaped nonlinear relationship was found in other urban groups. (2) There are differences in the inflection point value and the variable mean of ER in different urban groups, which have different promoting effects on GTFP. In key monitoring cities and low economic development level cities, the mean value of ER had not passed the inflection point, and ER was negatively correlated with GTFP. The mean values of ER variables in the whole sample, the non-key monitoring and the middle economic development level cities had all passed the inflection point, which gradually promoted the improvement of GTFP. (3) Among the control variables of the different city groups, science and technology input and the financial development level mainly had positive effects on GTFP, while foreign direct investment (FDI) and fixed asset investment variables mainly had negative effects.

New Evidence on the Relationship Between Economic Freedom and Growth: A Panel Cointegration Analysis for The Case of OECD

2012 ◽  
Vol 12 (3) ◽  
pp. 1850263 ◽  
Author(s):  
Ekrem Erdem ◽  
Can Tansel Tugcu
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Total Factor Productivity ◽  
Economic Freedom ◽  
Global Financial Crisis ◽  
Oecd Countries ◽  
Cointegration Analysis ◽  
Factor Productivity ◽  
The Impact ◽  
The Relationship

The aim of this paper is to find a new answer to an old question “Is economic freedom good or not for economies?” which was refreshed after the Global Financial Crisis of 2008. For this purpose, the relationship between economic freedom and economic growth, and the relationship between economic freedom and total factor productivity in OECD countries were investigated by using panel data for the period of 1995-2009. Study employed the recently developed cointegration test by Westerlund (2007) and the estimation technique by Bai and Kao (2006) which account for cross-sectional dependence that is an important problem in the panel data studies. Although no significant relationship found between economic freedom and total factor productivity, cointegration analysis revealed that economic freedom matters for economic growth in OECD countries in the long-run, and estimation results showed that direction of the impact is negative.

scholarly journals Finance and Development: A Tale of Two Sectors

2011 ◽  
Vol 101 (5) ◽  
pp. 1964-2002 ◽  
Author(s):  
Francisco J Buera ◽  
Joseph P Kaboski ◽  
Yongseok Shin
Keyword(s):  
Quantitative Analysis ◽  
Total Factor Productivity ◽  
Financial Frictions ◽  
Substantial Part ◽  
Factor Productivity ◽  
Country Differences ◽  
Cross Country ◽  
Relative Productivity ◽  
The Relationship ◽  
Two Sectors

We develop a quantitative framework to explain the relationship between aggregate/sector-level total factor productivity (TFP) and financial development across countries. Financial frictions distort the allocation of capital and entrepreneurial talent across production units, adversely affecting measured productivity. In our model, sectors with larger scales of operation (e.g., manufacturing) have more financing needs, and are hence disproportionately vulnerable to financial frictions. Our quantitative analysis shows that financial frictions account for a substantial part of the observed cross-country differences in output per worker, aggregate TFP, sector-level relative productivity, and capital-to-output ratios. (JEL E23, E44, O41, O47)

scholarly journals Environmental Regulation, Enterprises' Bargaining Power, and Enterprises' Total Factor Productivity: Evidence from China

2021 ◽  
Author(s):  
Shuwang Yang ◽  
Chao Wang ◽  
Hao Zhang ◽  
Tingshuai Lu ◽  
Yang Yi
Keyword(s):  
Environmental Regulation ◽  
Total Factor Productivity ◽  
Environmental Economics ◽  
Bargaining Power ◽  
Factor Productivity ◽  
Firm Level ◽  
Capital Cities ◽  
Provincial Capital ◽  
The Government ◽  
The Relationship

Abstract The relationship between environmental regulation and enterprises' total factor productivity (TFP) has been a hot topic in the field of environmental economics, but the conclusions are still mixed. Employing a sample of 14,110 firm-year observations in China from 2010 to 2018, our research explores whether and when environmental regulation could trigger firms, to enhance TFP. The available evidence leads us to cautiously conclude that: 1) Environmental regulation notably improves enterprises' TFP, the conclusion still holds after a series of robustness tests. 2) Enterprises' bargaining power significantly weakens the influence of environmental regulation on enterprises' TFP. 3) Compared with non-state-owned enterprises and non-heavy-polluting industries, environmental regulation has a greater impact on state-owned enterprises and heavy-polluting industries; higher executive compensation does not motivate firms to improve TFP; compared with enterprises headquartered in non-provincial capital cities, environmental regulation has a greater impact on enterprises' TFP in provincial capital cities. Overall, the findings of our research are extremely relevant for the government, investor, and enterprise's manager, this paper provides micro-firm-level evidence for the Porter hypothesis in practice in China.

scholarly journals Bond Financing, Research and Development Input, and Total Factor Productivity

2021 ◽  
Vol 2021 ◽  
pp. 1-6
Author(s):  
Xing He ◽  
Mancang Wang
Keyword(s):  
Research And Development ◽  
Total Factor Productivity ◽  
Mechanism Analysis ◽  
Factor Productivity ◽  
Action Mechanism ◽  
The Relationship

From the angle of research and development (R&D) input, this paper analyzes how bond financing affects corporate total factor productivity (TFP). Based on the 2007–2019 data on listed enterprises, the influence and action mechanism of bond financing on corporate TFP were empirically examined. The results show that bond financing significantly boosts corporate TFP. The mechanism analysis reveals that bond financing promotes TFP by stimulating corporate R&D input. The research sheds new light on the relationship between finance and TFP from the perspective of bond financing and provides a reference for policymakers to boost corporate TFP by promoting bond financing.

scholarly journals Technical Efficiency and Technical Change in Africa: The Role of Money from the Diasporas

2018 ◽  
Vol 10 (7) ◽  
pp. 177
Author(s):  
Gloria Clarissa O. Dzeha ◽  
Joshua Yindenaba Abor ◽  
Festus Ebo Turkson ◽  
Elikplimi Komla Agbloyor
Keyword(s):  
Technical Efficiency ◽  
Total Factor Productivity ◽  
Technical Change ◽  
Seemingly Unrelated Regression ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Factor Productivity ◽  
Unrelated Regression ◽  
The Relationship

Based on evidence from the literature that the relationship between remittances and total factor productivity (TFP) is inconclusive, we employ the non-parametric Malmquist productivity index - Data Envelope Analysis to decompose total factor productivity (TFP) into technical change and technical efficiency and further investigate the effect of remittances on the technical change and technical efficiency. We employ the Seemingly Unrelated Regression estimation (SUR) technique in a panel of twenty-three African remittance recipient countries across a twenty-three-year period (1990-2013). We show that remittances received by households have a positive and significant impact on technical efficiency but no significant on technical change (innovativeness). We further show that remittances received by skilled labour is significant to technical efficiency but has a lowering effect on technical efficiency.

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