Rapid Economic Growth with Increasing Returns to Scale and Little or no Productivity Growth
使用短期广义里昂惕夫成本函数，估计了28个韩国制造业部门的全要素生产率、加成率、规模经济和产能利用率，发现市场不完善、存在规模经济，且产出快速增长可能伴随负的全要素生产率增长。
Total factor productivities for 28 Korean manufacturing sectors were estimated jointly with markups, scale economies, and the capacity utilization rate using the short-run generalized Leontief cost function. Concavity conditions necessary for the cost function to be well-behaved and consistent with a firm's optimizing behavior were imposed on the estimation by way of Bayesian inference. The study finds: (1) the superiority of the short-run equilibrium model over the long-run model and of the short-run generalized Leontief cost function over the translog cost function; (2) market imperfection; (3) the existence of scale economies; and (4) biases in the traditional TFP measures. The study also suggests that a rapid growth of output is possible with negative TFP growth. Copyright 1995 by MIT Press.