DOES ECONOMIC FREEDOM AFFECT THE PRODUCTION FRONTIER? A SEMIPARAMETRIC APPROACH WITH PANEL DATA

被引：8

作者：

Zhang, Fan ^{[1
]}

Hall, Joshua ^{[2
]}

Yao, Feng ^{[2
]}

机构：

[1] Ripon Coll, Dept Business Management, Ripon, WI 54971 USA

[2] West Virginia Univ, Dept Econ, Morgantown, WV 26506 USA

来源：

ECONOMIC INQUIRY | 2018年 / 56卷 / 02期

关键词：

NONPARAMETRIC-ESTIMATION; TECHNICAL INEFFICIENCY; CROSS-COUNTRY; GROWTH; INSTITUTIONS; INVESTMENT; EFFICIENCY; MODELS; LIKELIHOOD; WORLD;

D O I：

10.1111/ecin.12548

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper applies a multistep semiparametric stochastic production frontier estimator to investigate the effects of economic freedom (EF) on the production frontier and technical efficiency. We allow output elasticities and technical efficiency to depend on EF, estimate a smooth coefficient stochastic production frontier, and compare with parametric alternatives. Our results highlight the flexibility of semiparametric approaches as we find parametric approaches are too restrictive in estimating marginal productivity. Output elasticities of labor, human capital, and physical capital vary with the level of EF and our average efficiency estimates are at least 20% higher than those obtained from parametric counterparts. (JEL C14, O43)

引用

页码：1380 / 1395

页数：16

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