Journal ArticleDOI
Efficiency Loss from Resource Misallocation in Soviet Industry
Padma Desai,Ricardo Martin +1 more
TLDR
The authors analyzes the problems that arise in estimating the efficiency loss from misallocation of resources in Soviet industry, as revealed by the inequality of marginal rates of substitution among factors in the eight branches of Soviet industry.Abstract:
The paper analyzes the problems that arise in estimating the efficiency loss from misallocation of resources in Soviet industry, as revealed by the inequality of marginal rates of substitution among factors in the eight branches of Soviet industry. Econometric estimates of production functions in these branches are utilized to reach estimates of the loss arising from interbranch misallocation of capital and labor deployed in Soviet industry. This loss appears to be nonnegligible, ranging from a low of about 3 to 4 percent to a high of 10 percent of efficient factor use, and to be rising over time. Thus, an added reason for the current deceleration in Soviet industrial (and overall) growth is suggested.read more
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Regional disparity and economic growth in China: The impact of labor market distortions
Fang Cai,Dewen Wang,Yang Du +2 more
TL;DR: In this article, the authors tried to analyze China's regional disparity in a framework of convergence in the neoclassical theory of growth and found that there is an evidence of conditional convergence in China's growth, namely, per capita GDP in the initiative year is negatively related to growth rates in following years.
Journal ArticleDOI
Development Strategy, Viability, and Economic Convergence*
TL;DR: In this article, the authors argue that an economy's industry/technology structure is endogenously determined by the economy's endowment structure and that convergence will fail to occur as a result.
Journal ArticleDOI
Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies
TL;DR: In fact, there is a curious symmetry between the arguments propounded over the last century in advocacy of socialism and the present popular discussion of the reform of centrally planned economies.
Journal ArticleDOI
Industrial economics of the transition: determinants of enterprise efficiency in czechoslovakia and hungary
TL;DR: In this article, the firm level data are employed to estimate frontier production functions for Czechoslovak industry in 1990 and for Hungarian industry in 1991, with the distribution of efficiency characterized by a small number of inefficient outliers.
Journal ArticleDOI
The impact of carbon emissions trading on energy efficiency: Evidence from quasi-experiment in China's carbon emissions trading pilot
TL;DR: Wang et al. as mentioned in this paper used a Difference-in-Differences Model to assess the impact of carbon emissions trading on energy efficiency, and they found that after overcoming endogenous issue and passing a series of robustness tests, the CO2 trading scheme can significantly improve the single-factor and total-factor energy efficiency of cities through green innovation and resource allocation channels.
References
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Posted Content
Invariant Economic Index Numbers and Canonical Duality: Survey and Synthesis.
Journal ArticleDOI
Distortions in Factor Markets and the General Equilibrium Model of Production
TL;DR: In this article, the authors explore how distortions can affect the shape of the transformation schedule and the optimal strategy to be followed by a factor of production intent on maximizing its returns in a two-sector model.
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The Theory of Wage Differentials: Production Response and Factor Price Equalization
J. N. Bhagwati,T. N. Srinivasan +1 more
Journal ArticleDOI
Thornton's Estimates of Efficiency Losses in Soviet Industry: Some Fixed-Point-Method Recalculations
TL;DR: In this paper, the first set of estimates of static efficiency losses arising from the pursuit of centrally-directed allocation procedures have been presented for Soviet industry by Thornton (1971) for market economies.