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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2159

Title: Public and private inputs in aggregate production and growth : a cross-country efficiency approach
Authors: Afonso, António
St. Aubyn, Miguel
Keywords: economic growth
public spending
efficiency
Malmquist index
Issue Date: Feb-2010
Publisher: European Central Bank
Citation: Afonso, António e Miguel St. Aubyn. 2010. "Public and private inputs in aggregate production and growth : a cross-country efficiency approach". European Central Bank working paper series nº 1154-2010
Series/Report no.: European Central Bank working paper series;nº 1154-2010
Abstract: In a cross section of OECD countries we replace the macroeconomic production function by a production possibility frontier, TFP being the composite effect of efficiency scores and possibility frontier changes. We consider, for the periods 1970, 1980, 1990, 2000, one output: GDP per worker; three inputs: human capital, public physical capital per worker and private physical capital per worker. We use a semi-parametric analysis, computing Malmquist productivity indexes, and we also resort to stochastic frontier analysis. Results show that private capital is important for growth, although public and human capital also contribute positively. A governance indicator, a non-discretionary input, explains inefficiency. Better governance helps countries to achieve a better performance. Non-parametric and parametric results coincide rather closely on the countries movements vis-à-vis the possibility frontier, and on their relative distances to the frontier.
URI: http://hdl.handle.net/10400.5/2159
ISSN: 1725-2806
Publisher version: http://www.ecb.int/pub/pdf/scpwps/ecbwp1154.pdf
Appears in Collections:DE - Documentos de trabalho / Working Papers

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