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From 2020 new at De Gruyter

German Economic Review

Ed. by Egger, Peter / Balleer, Almut / Crespo-Cuaresma, Jesus / Larch, Mario / Osikominu, Aderonke / Wamser, Georg


IMPACT FACTOR 2018: 0.638
5-year IMPACT FACTOR: 1.127

CiteScore 2018: 1.03

SCImago Journal Rank (SJR) 2018: 0.540
Source Normalized Impact per Paper (SNIP) 2018: 0.788

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ISSN
1468-0475
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Volume 20, Issue 4

Issues

Output Growth Decomposition in the Presence of Input Quality Effects: A Stochastic Frontier Approach

Yasmina Rim Limam
  • Université de Carthage, Tunis, Tunisia
  • IPEG, Los Angeles, California, United States of America
  • Other articles by this author:
  • De Gruyter OnlineGoogle Scholar
/ Giampaolo Garzarelli
  • Sapienza – Università di Roma, Rome, Italy
  • IPEG, Los Angeles, California, United States of America
  • University of the Witwatersrand, Johannesburg, South Africa
  • Other articles by this author:
  • De Gruyter OnlineGoogle Scholar
/ Stephen M. Miller
  • University of Nevada, Las Vegas, United States of America
  • University of Connecticut (Emeritus), Mansfield, Connecticut, United States of America
  • Other articles by this author:
  • De Gruyter OnlineGoogle Scholar
Published Online: 2019-12-07 | DOI: https://doi.org/10.1111/geer.12147

Abstract

How do physical capital accumulation and total factor productivity (TFP) individually add to economic growth? We approach this question from the perspective of the quality of physical capital and labor, namely the age of physical capital and human capital. We build a unique dataset by explicitly calculating the age of physical capital for each country and each year of our time frame and estimate a stochastic frontier production function incorporating input quality in five regions of countries (Africa, East Asia, Latin America, South Asia and West). Physical capital accumulation generally proves much more important than either the improved quality of factors or TFP growth in explaining output growth. The age of capital decreases growth in all regions except in Africa, while human capital increases growth in all regions except in East Asia.

Keywords: Age of physical capital; embodiment hypothesis; output growth; stochastic frontier; total factor productivity

About the article

Published Online: 2019-12-07

Published in Print: 2019-12-01


Citation Information: German Economic Review, Volume 20, Issue 4, Pages 383–409, ISSN (Online) 1468-0475, ISSN (Print) 1465-6485, DOI: https://doi.org/10.1111/geer.12147.

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