SSE/EFI Working Paper Series in Economics and Finance
No 301:
Patterns of Productivity Growth in the Norwegian Salmon Farming Industry
Ragnar Tveterås ()
and Almas Heshmati ()
Abstract: This paper is concerned with empirical measurement of
patterns of productivity growth by means of competing panel data models of
technical change. We argue that short term analysis must rely on models of
technical change which are more flexible than the standard time trend
model, because biophysical shocks and shifting market conditions lead to
shifts in the rate of technical change from year to year. Based on
empirical results from an unbalanced panel of 560 Norwegian salmon farms
for the period 1985-93 we also find that flexible models of technical
change are the most appropriate for short term analysis of productivity
growth. Our results indicate that market conditions may be as important as
biophysical shocks, such as disease outbreaks and weather shocks, for the
estimated rates of productivity growth. Contrary to standard hypotheses in
the literature we find a negative relationship between industry price-cost
margin and productivity growth, probably due to a reduced level of on-farm
innovation and less investments in improved technologies under depressed
economic conditions.
Keywords: Firm-specific technical change; productivity growth; market conditions; salmon farming; (follow links to similar papers)
JEL-Codes: C23; C51; D24; Q12; Q22; (follow links to similar papers)
25 pages, February 9, 1999
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- This paper is published as:
-
Tveterås, Ragnar and Almas Heshmati, (2002), 'Patterns of Productivity Growth in the Norwegian Salmon Farming Industry', International Review of Economics and Business, Vol. IL, September, No. 3, pages 367-393
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