Journal article
Inference on productivity differentials in multi-sector models of economic growth
Journal of Development Economics, Vol.51(2), pp.315-325
1996
Abstract
Non-zero marginal factor productivity differentials between sectors are a key feature of multi-sector models of economic growth, suggesting the potential for welfare gains through reallocation of resources between sectors. However, in existing studies, inference on the parameter reflecting productivity differentials is inadequate. Reparameterization of hypotheses relating to the productivity differential parameter allows, under the usual assumptions, exact finite-sample inference to be applied. Confidence intervals based on this approach applied to existing published studies suggest that many of the inferences on the potential gains in growth from exploiting inter-sectoral productivity differences are fragile.
Details
- Title
- Inference on productivity differentials in multi-sector models of economic growth
- Authors
- William R J Alexander (Author) - University of Otago, New ZealandPaul Hansen (Author) - University of Otago, New ZealandP D Owen (Author) - University of Otago, New Zealand
- Publication details
- Journal of Development Economics, Vol.51(2), pp.315-325
- Publisher
- Elsevier BV, North-Holland
- Date published
- 1996
- DOI
- 10.1016/S0304-3878(96)00417-8
- ISSN
- 0304-3878
- Organisation Unit
- School of Business and Creative Industries; Indigenous and Transcultural Research Centre; University of the Sunshine Coast, Queensland; USC Business School - Legacy
- Language
- English
- Record Identifier
- 99450307702621
- Output Type
- Journal article
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