R&D, Production Structure and Productivity Growth: A Comparison of the US, Japanese and Korean Manufacturing Sectors / M. Ishaq Nadiri, Seongjun Kim.

By:

Nadiri, M. Ishaq

Contributor(s):

Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w5506.Publication details: Cambridge, Mass. National Bureau of Economic Research 1996.Description: 1 online resource: illustrations (black and white)Subject(s):

Online resources:

Available additional physical forms:

Hardcopy version available to institutional subscribers

Abstract: We estimate and compare the production structures of the US, Japanese, and Korean total manufacturing sectors for the 1974-1990 period. We employ a translog variable cost function that includes such inputs as labor, materials, physical and R&D capital with the physical and R&D capital treated as quasi-fixed subject to adjustment costs. The paper provides estimates for markups, returns to scale, rates of return on physical and R&D capital, and technical change. The paper also identifies the sources of the growth of output, labor productivity, and total factor productivity. The results show that resource accumulation, not technical change, is the key factor in rapid output growth, and that the R&D capital and technical change have been major contributors of the TFP growth in the US and Japanese manufacturing but not in the Korean manufacturing sector.

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w5506 (Browse shelf(Opens below))	Not For Loan

Total holds: 0

Collection: Colección NBER Close shelf browser (Hides shelf browser)

Previous	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	Next
Previous	nber w5503 Labor Productivity: Structural Change and Cyclical Dynamics /	nber w5504 Adoption of Financial Technologies: Implications for Money Demand and Monetary Policy /	nber w5505 Technical Trading Rule Profitability and Foreign Exchange Intervention /	nber w5506 R&D, Production Structure and Productivity Growth: A Comparison of the US, Japanese and Korean Manufacturing Sectors /	nber w5507 Inflation Targeting in a St. Louis Model of the 21st Century /	nber w5508 Fixed Costs: The Demise of Marginal q /	nber w5509 The Smoot-Hawley Tariff: A Quantitative Assessment /	Next

March 1996.

We estimate and compare the production structures of the US, Japanese, and Korean total manufacturing sectors for the 1974-1990 period. We employ a translog variable cost function that includes such inputs as labor, materials, physical and R&D capital with the physical and R&D capital treated as quasi-fixed subject to adjustment costs. The paper provides estimates for markups, returns to scale, rates of return on physical and R&D capital, and technical change. The paper also identifies the sources of the growth of output, labor productivity, and total factor productivity. The results show that resource accumulation, not technical change, is the key factor in rapid output growth, and that the R&D capital and technical change have been major contributors of the TFP growth in the US and Japanese manufacturing but not in the Korean manufacturing sector.