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On a Production Function of European Countries: An Empirical Study

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F18%3A00011091" target="_blank" >RIV/47813059:19520/18:00011091 - isvavai.cz</a>

  • Result on the web

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    On a Production Function of European Countries: An Empirical Study

  • Original language description

    The aim of this paper is to examine a goodness-of-fit of several aggregated production functions including Cobb-Douglas function; Mankiw, Romer and Weil function, or Mincer's specification for a set of 30 European countries during 2006-2015 period. The dependent variable was economic output measured in real GDP, the set of independent variables included labour, physical capital, human capital, labour productivity or technology level. The main finding of the paper is that all above mentioned aggregate production functions fitted the data exceptionally well, with the adjusted coefficients of determination above 0.95. Also, it was found that the inclusion of other macroeconomic variables, such as labour productivity, human capital or technology level to the two-factor Cobb-Douglas function did not result in a significantly better goodness-of-fit.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database

  • CEP classification

  • OECD FORD branch

    50202 - Applied Economics, Econometrics

Result continuities

  • Project

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2018

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE

  • ISSN

    1508-2008

  • e-ISSN

  • Volume of the periodical

    21

  • Issue of the periodical within the volume

    2

  • Country of publishing house

    PL - POLAND

  • Number of pages

    12

  • Pages from-to

    25-36

  • UT code for WoS article

  • EID of the result in the Scopus database

    2-s2.0-85049797396