Table 1: Estimation results of the logarithmic Translog production function
with fixed effects, years 1992-2005
|
Variable |
Coefficient |
p-value |
|
βmat |
0.2Ô9 |
<.0001 |
|
βlab |
0.229 |
<.0001 |
|
βene |
0.028 |
0.0016 |
|
βcap |
0.245 |
<.0001 |
|
βoth |
0.167 |
<.0001 |
|
βext |
0.116 |
<.0001 |
|
β2 mat |
0.055 |
<.0001 |
|
в2_lab |
0.073 |
<.0001 |
|
β2 ene |
0.007 |
<.0001 |
|
в2_cap |
0.027 |
<.0001 |
|
в2_oth |
0.026 |
<.0001 |
|
в2_ext |
0.016 |
<.0001 |
|
γmat_ lab |
-0.057 |
<.0001 |
|
γmat_ ene |
-0.001 |
0.2093 |
|
γmat_ cap |
-0.02 |
<.0001 |
|
γmat_ oth |
-0.008 |
<.0001 |
|
γmat_ ext |
-0.017 |
<.0001 |
|
γlab_ene |
-0.009 |
<.0001 |
|
γlab_cap |
-0.033 |
<.0001 |
|
γlab_oth |
-0.036 |
<.0001 |
|
γlab_ext |
-0.012 |
<.0001 |
|
γene_cap |
0.003 |
0.0016 |
|
γene _oth |
-0.003 |
<.0001 |
|
γene _ext |
-0.001 |
0.0002 |
|
γca p_oth |
-0.009 |
<.0001 |
|
Ycap_ext |
-0.001 |
0.0191 |
|
γoth _ext |
0.001 |
0.1135 |
|
D1992 |
0.022 |
<.0001 |
|
D1993 |
0.009 |
<.0001 |
|
D1994 |
0.012 |
<.0001 |
|
D1995 |
0.017 |
<.0001 |
|
D1996 |
0.011 |
<.0001 |
|
D1997 |
0.015 |
<.0001 |
|
D1998 |
0.013 |
<.0001 |
|
D1999 |
0.017 |
<.0001 |
|
D2000 |
0.014 |
<.0001 |
|
D2001 |
0.006 |
<.0001 |
|
D2002 |
-0.004 |
0.0146 |
|
D2003 |
-0.002 |
0.0711 |
|
_____________D2004_________ |
___________0.003 |
0.0236 |
|
R2 |
0.995 | |
|
Number of observations |
217,415 | |
Notes: mat: material inputs, lab: labor compensation, ene: energy consumption, cap:
capital, oth: other inputs, ext: external services.
hypothesis β2 i = 0 and γij = 0 for all i and j. This null hypothesis is strongly rejected (p-
value < 0.0001) indicating that the translog specification is more appropriate. Second, the H0
that (∑β2-i + ∑γij) (j'=i) is equal to zero13 is not rejected (p-value = 0.41). This indicates a
13This sum of estimates is 0.000474, with a standard error of 0.000572.
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