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PRODUCTIVITY CHANGES OVER TIME – THEORETICAL AND METHODOLOGICAL FRAMEWORK

100%
Bezat-Jarzebowska A., Jarzebowski S.
Metody Ilościowe w Badaniach Ekonomicznych
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2013
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vol. 14
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issue 1
27-36
EN
The TFPV Malmquist index is one of the tools that does not require knowledge of the price level and qives information on factors affecting productivity changes over time. The DEA-based approach allows decomposing of the TFPC indices into:technical change ( Δ T),technical efficiency change ( ΔTE) and scale efficiency change (Δ SE). A panel data from the companies of a key food processing sector, namely the meat processing, was used in the paper. The sample consisted of above 200 objects. The results indicated which of the decomposed indices ( ΔT, ΔTE, ΔSE) had the greatest impact on productivity changes in the analyzed sector.
2
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Credit volatility and productivity growth

100%
Brzozowski M.
Equilibrium. Quarterly Journal of Economics and Economic Policy
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2018
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vol. 13
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issue 2
215-232
EN
Research background: The issues of finance-growth nexus and financial instability have attracted considerable attention, but have been studied in isolation. This paper aims at filling this gap by providing insights into the implications of financial instability for long term productivity growth. Purpose of the article: This paper sheds light on the relationship between credit-to-GDP ratio volatility and the total factor productivity (TFP) growth rate. The impact of systemic banking crises and financial depth on productivity growth is also studied. Methods: The System GMM estimation of panel data for over 100 countries and spanning the period of 1970-2009 is used. The decomposition of credit-to-GDP ratio into trend and cyclical component is performed using the Hodrick-Prescott filter and a regression analysis with country-specific intercepts and slopes. The data on TFP comes from the Penn World Tables database. Findings & Value added: TFP growth is negatively affected by credit volatility, mainly in less technologically advanced countries, while financial depth exerts a negative influence on TFP growth in economies with superior technology. Systemic banking crises and the concomitant credit crunches have a negative impact on productivity growth, regardless of the level of technological development. Moreover, the level of human capital, patents and globalization fuel productivity growth. Macroeconomic instability, measured by the rate of inflation, hampers TFP growth.
3
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An Empirical Study Of Productivity Growth In EU28 - Spatial Panel Analysis

100%
Olejnik A.
Comparative Economic Research. Central and Eastern Europe
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2014
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vol. 17
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issue 4
187-202
EN
This paper investigates the spatial process of productivity growth in the European Union on the foundations of the theory of New Economic Geography. The proposed model is based on the study of NUTS 2 regions and takes into consideration a spatial weights matrix in order to better describe the structure of spatial dependence between EU regions. Furthermore, our paper attempts to investigate the applicability of some new approaches to spatial modelling including parameterization of the spatial weights matrix. Our study presents an application of the spatial panel model with fixed effects to Fingleton’s theoretical framework. We suggest that the applied approach constitutes an innovation to spatial econometric studies providing additional information hence, a deeper analysis of the investigated problem.
4
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Business Demography, Job Flows and Productivity in Poland’s Enterprise Sector

88%
Rogowski W., Socha J.
Gospodarka Narodowa. The Polish Journal of Economics
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2008
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vol. 224
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issue 5-6
1-23
EN
The article deals with Poland’s transition to a market economy in the 1990s and compares the changes that took place in the Polish economy at the time with developments in mature economies. Using three indexes-the enterprise turnover rate, job flow rates, and productivity growth decomposition-the authors attempt to show that transition processes in Poland have had a positive effect on the country’s enterprise sector, though there is still a lot of work to be done. These three indexes help understand the structural changes that occurred during the transition from central planning to an open market economy in Poland. Using a unique set of data from Polish companies, the authors calculated several measures of resource reallocation, along with enterprise entry and exit rates, and job flow rates. Moreover, they computed the labor productivity growth rate. The high rates of resource reallocation suggest that the Schumpeterian processes of creative destruction have played a major role in productivity enhancement. Surprisingly, labor productivity decomposition shows that the “within effect” influenced productivity the most, while the net entry effect was significant and positive. The poor availability of data explains why the authors were unable to calculate more sophisticated measures of productivity growth. The quality of the data may be also responsible for the substantial sensitivity of the results to the productivity decomposition method.
5
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The Incentive Reward Complex and the slowest U.S. post‑WW II recovery on record.

75%
Beranek W., Kamerschen D. R.
Economics and Business Review
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2017
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vol. 3(17)
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issue 2
3-11
EN
Government policymakers (both Fed and U.S. Treasury) remain puzzled over the lack of vigor in the post-Great Recession recovery of 2010 to 2017, blaming it in part on a slowdown in productivity growth and the retirement of workers. But an equally plausible explanation lies in their failure to recognize the importance of the Incentive Reward Complex in providing an improved springboard for economic growth. Support for this hypothesis lies in the Fed’s data base, along with evidence that fails to support stimulus policies of both the U.S. Treasury and the Fed. Rather than more of these types of government interventions, we may need fewer of them along with more of the culture of incentives and rewards.
6
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Returns to Scale for EU Regions – evidence from the spatial panel model

51%
Olejnik A. A.
Acta Universitatis Lodziensis. Folia Oeconomica
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2017
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vol. 3
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issue 329
PL
Ostatnie wyniki prac naukowych zwracają uwagę na rolę zlokalizowanych korzyści skali zarówno dla wzrostu gospodarczego, jak i dla procesów aglomeracyjnych. Badacze chcą wiedzieć, czy korzyści skali są stałe, czy rosną, i jeśli tak, to do jakiego stopnia. Aby odpowiedzieć na te pytania, w niniejszym artykule oszacowany został przestrzenny model ekonometryczny w oparciu o prawo Verdoorna, opisujące zależność wzrostu produktywności od wzrostu produkcji. Celem artykułu jest prezentacja nowych wyników oszacowań stopnia korzyści skali dla regionów UE. Wyniki te wskazują, że hipoteza o rosnących korzyściach skali jest nadal aktualna. Badania zostały przeprowadzone z zastosowaniem modelu WAMP Durbina (wielowymiarowego autoregresyjnego modelu przestrzennego Durbina) z przestrzennymi efektami stałymi. Z analizy wykonanej dla 261 regionów 28 państw UE wynika, że rosnące korzyści skali dla regionów UE są znaczące.
EN
Recent findings emphasise the importance of localised returns to scale for the regional growth as well as for the agglomeration processes. However, it is still not well established whether returns to scale are constant or increasing, and to what extent. Therefore, in this study we apply specification which describes the productivity growth with the growth of output through the Verdoorn’s law. This study aims to provide some new estimates of the degree of returns to scale for EU regions. Our findings show that the hypothesis of increasing returns to scale is still valid in today’s EU economy. To test the hypothesis, we have employed the Multidimensional Spatial Panel Durbin Model with Spatial Fixed Effects. The research is conducted for 261 regions of the EU 28. The paper concludes that increasing returns to scale in EU regions are substantial.
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Implementation of KLEMS Economic Productivity Accounts in Poland

32%
Kotlewski D. C., Błażej M.
Acta Universitatis Lodziensis. Folia Oeconomica
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2018
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vol. 2
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issue 334
PL
Celem artykułu jest pokazanie, w jaki sposób zrealizowano rachunek produktywności gospodarki KLEMS dla Polski. Głównym problemem badawczym było znalezienie sposobu uporania się ze specyficznym dla kraju niedostatkiem danych. W związku z tym postawiono hipotezę, że dzięki pewnym innowacyjnym, ale akceptowalnym technikom oszacowania brakujących danych możliwe jest dostarczenie odpowiednich danych do tego rachunku dla Polski. Po zaprezentowaniu podstawowych informacji o rachunku produktywności gospodarki KLEMS oraz metodologii w artykule pokazano, jak zostały rozwiązane specyficzne problemy, które ujawniły się z danymi.
EN
The aim of the article is to demonstrate how the KLEMS economic productivity accounts for Poland have been performed. The main research problem was to find solutions to certain country‑specific data insufficiencies. On this basis, a hypothesis was put forward that by using some innovative but acceptable missing data assessment techniques, it is possible to supply sufficient data for Poland for the mentioned accounts. After an overview of KLEMS economic productivity accounts and the relevant fundamental methodology, the article presents further how specific data problems that have arisen have been solved.    
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