The role of returns to scale in measuring frictions in resource allocation: Revisiting misallocation and manufacturing TFP in China

被引：12
|
作者：
Gong, Guan [1 ,2 ]
Hu, Guanliang [1 ]
机构：
[1] Shanghai Univ Finance & Econ, Sch Econ, Shanghai 200433, Peoples R China
[2] Shanghai Univ Finance & Econ, Key Lab Math Econ, Shanghai 200433, Peoples R China
来源：
ECONOMICS LETTERS | 2016年 / 138卷
基金：
中国国家自然科学基金;
关键词：
Misallocation; TFP; Returns to scale;
D O I：
10.1016/j.econlet.2015.11.014
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper extends the study by Hsieh and Klenow (2009) on productivity implication of resource misallocation by relaxing the assumption of constant returns to scale (CRS) for differentiated products. We show that when the CRS assumption fails, measuring frictions in resource allocation by variation in revenue productivity, as proposed by Hsieh and Klenow (2009), overestimates the resource misallocation in China. (C) 2015 Elsevier B.V. All rights reserved.
引用
收藏
页码：26 / 29
页数：4
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