Total factor productivity growth and convergence in the petroleum industry: Empirical analysis testing for convexity

Kristiaan Kerstens, Shunsuke Managi

研究成果: Contribution to journalArticle

20 引用 (Scopus)

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While economic theory acknowledges that some features of technology (e.g., indivisibilities, economies of scale and specialization) can fundamentally violate the traditional convexity assumption, almost all empirical studies accept the convexity property on faith. In this contribution, we apply two alternative flexible production technologies to measure total factor productivity growth and test the significance of the convexity axiom using a nonparametric test of closeness between unknown distributions. Based on unique field level data on the petroleum industry, the empirical results reveal significant differences, indicating that this production technology is most likely non-convex. Furthermore, we also show the impact of convexity on answers to traditional convergence questions in the productivity growth literature.

元の言語英語
ページ(範囲)196-206
ページ数11
ジャーナルInternational Journal of Production Economics
139
発行部数1
DOI
出版物ステータス出版済み - 9 1 2012
外部発表Yes

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering

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