文章基本信息

标题：DOES ECONOMIC FREEDOM AFFECT THE PRODUCTION FRONTIER? A SEMIPARAMETRIC APPROACH WITH PANEL DATA
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作者：Fan Zhang ; Joshua Hall ; Feng Yao 等
期刊名称：Economic Inquiry
印刷版ISSN：0095-2583
出版年度：2018
卷号：56
期号：2
页码：1380-1395
DOI：10.1111/ecin.12548
语种：English
出版社：Western Economic Association International
摘要：This paper applies a multistep semiparametric stochastic production frontier estimator to investigate the effects of economic freedom (EF) on the production frontier and technical efficiency. We allow output elasticities and technical efficiency to depend on EF, estimate a smooth coefficient stochastic production frontier, and compare with parametric alternatives. Our results highlight the flexibility of semiparametric approaches as we find parametric approaches are too restrictive in estimating marginal productivity. Output elasticities of labor, human capital, and physical capital vary with the level of EF and our average efficiency estimates are at least 20% higher than those obtained from parametric counterparts. (JEL C14, O43)