Volume 24, Issue 2 (Summer 2019)
JPBUD 2019, 24(2): 59-80 |
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Motavasseli A, Khani-Saryazdi N. (2019). The Impact of Nonrenewable Resource Abundance on Factor Shares. JPBUD. 24(2), 59-80. doi:10.29252/jpbud.24.2.59
URL: http://jpbud.ir/article-1-1848-en.html
URL: http://jpbud.ir/article-1-1848-en.html
1- Department of Economics, Institute for Management and Planning Studies, Tehran, Iran. , a.motavasseli@imps.ac.ir
2- Institute for Management and Planning Studies, Tehran, Iran.
2- Institute for Management and Planning Studies, Tehran, Iran.
Abstract: (3263 Views)
The share of factors of production in the GDP of a country represents an overall picture of its aggregate production technology. The share of reproducible factors (i.e., physical capital and human capital), and the share of non-reproducible factors (i.e., natural capital and unskilled labor) from total production varies considerably across different countries. In this paper, the impact of nonrenewable resource abundance or dependence on various factor shares is studied. Cross-sectional data of countries using OLS and 2SLS estimates are investigated. The results show that the share of natural capital in GDP is higher in the countries that are more dependent on nonrenewable resources or enjoy resource abundance. Moreover, human capital share and unskilled labor share are both lower in countries with higher degrees of resource dependence. Further research is needed to shed light on how resource abundance or dependence affects factor shares of economies.
Keywords: Total Factor Productivity, Scale Efficiency, Technical Efficiency, Technological Progress Rate, Airline Transportation, Growth Accounting, Stochastic Frontier.
Type of Study: Research |
Received: Dec 01 2019 | Accepted: Apr 23 2020 | ePublished: Aug 10 2020
Received: Dec 01 2019 | Accepted: Apr 23 2020 | ePublished: Aug 10 2020
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