Latin America: Total factor productivity and its components
This article applies the stochastic-frontier model to examine total factor productivity (tfp) and its components in Latin America between 1960 and 2010. The likelihood-ratio test shows that, for a selection of Latin American countries over the 50 years analysed, the macroeconomic variables of technical inefficiency included in the model generally have a significant effect; and they allow for a better understanding of technical inefficiency throughout the region. The key variables explaining technical inefficiency in the selected countries are public expenditure and the inflation rate; and there is also an inverse relation between technical inefficiency and the extent to which local prices diverge from purchasing power parity.
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| Main Authors: | , , |
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| Format: | Texto biblioteca |
| Language: | English |
| Published: |
2014-12
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| Subjects: | PRODUCTIVIDAD, MEDICION, ANALISIS MATEMATICO, MODELOS ECONOMETRICOS, PRODUCTIVITY, MEASUREMENT, MATHEMATICAL ANALYSIS, ECONOMETRIC MODELS, |
| Online Access: | https://hdl.handle.net/11362/37805 |
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