Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/205569 
Authors: 
Year of Publication: 
2005
Series/Report no.: 
New Zealand Treasury Working Paper No. 05/04
Publisher: 
New Zealand Government, The Treasury, Wellington
Abstract: 
This paper reviews and applies some recently proposed methods for separating total factor productivity (TFP) growth into contributions from technical progress and returns to scale, allowing for imperfectly competitive markets. The methods are applied to New Zealand data, using a recently available dataset on nine market-sector industries and the aggregate market sector, 1988-2002. The findings suggest that there has been little contribution from technical progress to TFP growth, but increasing returns to scale may have played a substantial role. However, the results are not statistically satisfactory for several industries, and are quite sensitive to the model used. This highlights the need for more work on both data and analysis if a better understanding is to be had of New Zealand's productivity performance.
Subjects: 
Returns to scale
technical progress
monopolistic markups
JEL: 
D24
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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