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Percorrer Centro de Estudos em Gestão e Economia (CEGE) por autor "Aguiar, Diana"
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- An attempt to explain differences in economic growth: a stochastic frontier approachPublication . Aguiar, Diana; Costa, Leonardo; Silva, ElviraTotal factor productivity (TFP), factor accumulation, and growth are analysed for a panel of 40 countries in 2001–11. TFP growth and technical inefficiency are estimated using a stochastic frontier model. Environmental variables are found to have an important role in explaining differences in inefficiency across countries. Over 2001–11, the general improvement in technical efficiency of countries is almost outweighed by technological regress. Results indicate that differences in factor accumulation between OECD and emerging economies are more important than differences in TFP change to explain differences in economic growth. Results also indicate negative and significant random shocks for the OECD countries.
- An attempt to measure the differences in productivity of nations: a stochastic frontier approachPublication . Aguiar, Diana; Costa, Leonardo; Silva, ElviraIt is broadly accepted that differences in efficiency and productivity growth are important contributions to the enormous differences in the wealth of nations. Technical inefficiency is estimated for a panel of 40 countries, 34 of which are OECD-members and the remaining 6 are emergent economies, for the period of 2001-2011, using a stochastic frontier model. Environmental variables are found to have an important role in explaining differences in technical inefficiency across countries. In particular, a high contribution of the agricultural sector and natural resources rents to the economy, trade barriers, a bad business environment, a high number of patents, a high level of government debt and the financial crisis contribute negatively to technical efficiency. On the other hand, a good health status and good institutions help countries to be located closer to the frontier. Total factor productivity (TFP) growth is computed and decomposed using a primal frontier approach. The relative importance of the TFP change and total factor accumulation to economic growth is also analyzed. The results show that differences in factor accumulation between OECD and emergent economies are important to explain differences in the growth rates of GDP per worker. Over 2001-2011, the general improvement in technical efficiency of countries is outweighed by technological regress.