Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries
Why do some countries produce so much more than others? One popular explanation is that capital market distortions lower the aggregate productivity of a country by allocating resources ine ciently. This paper follows the generalized average revenue product (ARP) approach, which incorporates hetero...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/61984 |
| _version_ | 1826117658534215680 |
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| author | Yuan, Zihan Wei, Ran Peng, Shiqi |
| author2 | Xu Qiang |
| author_facet | Xu Qiang Yuan, Zihan Wei, Ran Peng, Shiqi |
| author_sort | Yuan, Zihan |
| collection | NTU |
| description | Why do some countries produce so much more than others? One popular explanation is that capital market distortions lower the aggregate productivity of a country by
allocating resources ine ciently. This paper follows the generalized average revenue
product (ARP) approach, which incorporates heterogeneities in output and demand
elasticity into the existing ARP model. Applying the method to rm-level datasets
from 31 countries, together with Penn World Table that includes information about
country level aggregate total factor productivity (TFP), we nd that there is indeed a
signi cant negative relationship between aggregate TFP and measure of capital misallocation across countries. |
| first_indexed | 2024-10-01T04:30:55Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/61984 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T04:30:55Z |
| publishDate | 2014 |
| record_format | dspace |
| spelling | ntu-10356/619842019-12-10T12:08:39Z Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries Yuan, Zihan Wei, Ran Peng, Shiqi Xu Qiang School of Humanities and Social Sciences Wu Guiying Laura DRNTU::Social sciences::Economic theory::Macroeconomics Why do some countries produce so much more than others? One popular explanation is that capital market distortions lower the aggregate productivity of a country by allocating resources ine ciently. This paper follows the generalized average revenue product (ARP) approach, which incorporates heterogeneities in output and demand elasticity into the existing ARP model. Applying the method to rm-level datasets from 31 countries, together with Penn World Table that includes information about country level aggregate total factor productivity (TFP), we nd that there is indeed a signi cant negative relationship between aggregate TFP and measure of capital misallocation across countries. Bachelor of Arts 2014-12-15T01:31:40Z 2014-12-15T01:31:40Z 2014 2014 Final Year Project (FYP) http://hdl.handle.net/10356/61984 en Nanyang Technological University 52 p. application/pdf application/octet-stream |
| spellingShingle | DRNTU::Social sciences::Economic theory::Macroeconomics Yuan, Zihan Wei, Ran Peng, Shiqi Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries |
| title | Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries |
| title_full | Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries |
| title_fullStr | Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries |
| title_full_unstemmed | Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries |
| title_short | Why are some countries more productive? A study of the impact of capital market misallocation on productivity in both developed and developing countries |
| title_sort | why are some countries more productive a study of the impact of capital market misallocation on productivity in both developed and developing countries |
| topic | DRNTU::Social sciences::Economic theory::Macroeconomics |
| url | http://hdl.handle.net/10356/61984 |
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