Measuring the rate of technological change in Chinese rubber smallholdings - a micro-economic approach
Technological progress is commonly measured via aggregate production functions. In this paper, technological progress is estimated from a micro-economic viewpoint. A Cobb-Douglas production function was fitted to two sets of + cross-sectional data collected at different points in time. From the esti...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Rubber Research Institute of Malaysia
1984
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| Online Access: | http://psasir.upm.edu.my/id/eprint/38474/1/aar%205%20Measuring%20the%20Rate%20of%20Technological%20Change%20in%20Chinese%20Rubber%20Smallholdings%20-%20A%20Micro-economic%20Approach.pdf http://psasir.upm.edu.my/id/eprint/38474/ |
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| Summary: | Technological progress is commonly measured via aggregate production functions. In this paper, technological progress is estimated from a micro-economic viewpoint. A Cobb-Douglas production function was fitted to two sets of + cross-sectional data collected at different points in time. From the estimates obtained, we derived that the rate of technological progress in rubber smallholdings is the capital-augmenting type at about 1.2% per year. |
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