Language:
English
Pages:
1 Online-Ressource (circa 26 Seiten)
,
Illustrationen
Series Statement:
Policy research working paper 9491
Series Statement:
World Bank E-Library Archive
Series Statement:
Policy research working paper
Parallel Title:
Erscheint auch als Francis, David C Measuring Total Factor Productivity using the Enterprise Surveys: A Methodological Note
Keywords:
TFP
;
Enterprise Surveys
;
COBB-DOUGLAS
;
ECONOMIC GROWTH
;
ELASTICITY OF OUTPUT
;
ENTERPRISE SURVEY
;
TOTAL FACTOR PRODUCTIVITY
;
Graue Literatur
Abstract:
Total factor productivity is a key element of economic growth and an important performance metric for policy makers. This note describes the methodology for measuring firm-level total factor productivity using the World Bank's Enterprise Surveys cross-country data. It also presents some estimates recovered from the production function. Two versions of the production function are estimated: one Cobb-Douglas, the other a more flexible translog specification. Both estimations are at the two-digit industry level pooling all the Enterprise Surveys data across economies. Evidence is found against using a Cobb-Douglas specification, which is more parsimonious, and in favor of using the flexible translog specification. The resulting firm-level estimates are all published in the Enterprise Surveys database with a unique firm identifier to link to the rest of the Enterprise Surveys data; because the estimates are reliant on new data, they are updated periodically as new Enterprise Surveys data become available. The results show that: (i) median firms operate close to constant returns to scale; (ii) gross-output and value-added production functions provide similar ranking of sectors in terms of output elasticities, capital intensity, and returns to scale; (iii) there is large, firm-level heterogeneity in output elasticities; and (iv) gross-output-based total factor productivity measures are less dispersed than the value-added ones
DOI:
10.1596/1813-9450-9491
URL:
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