Comparison of TFP in Major Countries Based on Panel Data Model:1999-2006
Xianhua Wu, Guo Ji, Youping Li, Jianhui Yuan
Abstract
Xianhua Wu, Guo Ji, Youping Li, Jianhui Yuan
Abstract
TFP is an enduring research topic in the field of relationship between science and economic growth.But there is lack of the comparative studies of TFP in different countries. This paper collected GDP,investment in fixed assets,labor,number of Triadic patent families,researchers,gross domestic expenditure on RD of U.S.,Japan,China,Russia and other 19 countries from 1999 to 2006,using the classical production function model,and the panel data methods,through strictly deduce from the unit root test,panel cointegration relations and the choice of model,calculated the TFP,and analyze the relationship among TFP,number of patents,researchers,gross domestic expenditure on RD.Finally revealed significant conclusions.
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TFP is an enduring research topic in the field of relationship between science and economic growth.But there is lack of the comparative studies of TFP in different countries. This paper collected GDP,investment in fixed assets,labor,number of Triadic patent families,researchers,gross domestic expenditure on RD of U.S.,Japan,China,Russia and other 19 countries from 1999 to 2006,using the classical production function model,and the panel data methods,through strictly deduce from the unit root test,panel cointegration relations and the choice of model,calculated the TFP,and analyze the relationship among TFP,number of patents,researchers,gross domestic expenditure on RD.Finally revealed significant conclusions.
Key concepts: Total factor productivity, Cointegration, Economics, Panel data, Econometrics, Investment (military), Unit root test, China