2019 Fiscal Year Research-status Report
Analysis on TFP Sources of Growth to Enhance Competitiveness
| Project/Area Number |
17K03745
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| Research Institution | Ritsumeikan Asia Pacific University |
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Principal Investigator |
キム サンホ 立命館アジア太平洋大学, 国際経営学部, 教授 (20635461)
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| Project Period (FY) |
2017-04-01 – 2022-03-31
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| Keywords | productivity growth / dynamic productivity / dynamic duality / factor adjustment / dynamic elasticity / Japanese manufacturing |
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| Outline of Annual Research Achievements |
In FY2019, I published a working paper, “Productivity growth in dynamic factor adjustment for the Japanese manufacturing industry” in Global Economic Review. The paper estimates dynamic TFP growth allowing for the impacts of factor adjustments on productivity growth when factors are not in the long-run equilibrium. The paper shows that disequilibrium effects of quasi-fixed factors provide positive bias toward residual growth as a measure of technical change in a static equilibrium model. This paper suggests that policymakers should consider dynamic aspects of productivity growth when implementing an industrial policy intended to boost competitiveness.
I also published a paper, “Dynamic factor demand in the Japanese manufacturing industry” in Journal of Asian Business and Economic Studies. This paper investigates dynamic production structure of the Japanese manufacturing industry by utilizing a factor adjustment model. This paper suggests that both labor and capital take time to fully adjust to their long-run equilibrium levels. Then, this model is applied to the Korean economy to investigate the dynamic production structure of the Korean economy. The working paper, “Dynamic production structure of the Korean economy,” is published in International Area Studies Review.
To disseminate my research outcomes, I have participated in three international conferences and workshop. With feedback I received from those presentations, I have revised working papers and published a couple of papers successfully. And I have submitted one additional paper for possible publication.
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| Current Status of Research Progress |
Current Status of Research Progress
1: Research has progressed more than it was originally planned.
Reason
I am working on a dynamic model to analyze the impacts of industrial policy on TFP growth, which was supposed to be done in FY 2017-2018 according to my Disbursement Application Form. I am pursuing this research in FY 2018-2020 instead. In FY 2019, I published two working papers about dynamic factor models investigating dynamic factor adjustment for the Japanese manufacturing industry to peer-reviewed academic journals. Also, I published one working paper about the dynamic production structure for the Korean economy in an academic journal.
Considering that I published three papers in academic journals in FY 2019 and have already started on my new research for FY 2020, my research is progressing more smoothly than initially planned.
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| Strategy for Future Research Activity |
In FY 2020, I will continue to apply a dynamic factor model to investigate how the production structure of the Japanese manufacturing industry changes over time. This study will extend a model developed in FY2019 to employ a flexible estimation technique instead of a nonlinear estimation technique. This research can show how factor adjustment for the industry has evolved since 1970 by investigating the speed of factor adjustment and dynamic elasticities of factor demand.
In FY 2021, I will produce a working paper decomposing productivity growth into four factors and investigating their factor determinants, as proposed in my Disbursement Application Form. This work is an extension of a paper I published in FY2018 to see what determines decomposed productivity growth for the Japanese manufacturing industry.
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| Causes of Carryover |
To present my research, I planned to participate in the 16th International Conference in Shanghai, China, March 19-22, 2020. I bought air tickets and booked hotel accommodation for the conference, which was organized by the Western Economic Association International. Later, the conference was cancelled due to the outbreak of COVID-19.
I will use my remaining fund to buy a desktop computer in FY2020 and to finance an international conference participation if the COVID-19 pandemic settles down. Recently, my computer gets slow in data-processing job, and a new computer will help my research greatly.
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Research Products
(6 results)
