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Üretim fonksiyonu üzerine tartışmalar iktisatçıların daima ilgisini çekmiştir. Bu çalışmanın amacı, gelişmiş ve gelişmekte olan ülkelerde, Cobb-Douglas, CES ve VES üretim fonksiyonlarından hareketle, ölçek esnekliği, çıktı esnekliği ve ikame esnekliğini tahmin etmektir. Amaç doğrultusunda, dört girdili (emek, sermaye, doğalgaz ve petrol) olacak şekilde model oluşturulmuştur. Çalışmada 1982-2014 dönemine ait verilerle 22 gelişmiş, 12 gelişmekte olan ülke için doğrusal ve doğrusal olmayan panel veri analiz tekniklerinden yararlanılmıştır. Cobb-Douglas üretim fonksiyonu’ndan elde edilen bulgular, sermayenin çıktı esnekliğinin gelişmiş ülkelerde, emeğin çıktı esnekliğinin ise gelişmekte olan ülkelerde daha düşük olduğunu göstermektedir. Ayrıca doğalgaz tüketimi çıktı esnekliği, gelişmekte olan ülke grubunda istatistiksel olarak anlamsız iken, petrol tüketimi çıktı esnekliğinin gelişmiş ülkelerde daha yüksek olduğu görülmüştür. CES üretim fonksiyonundan elde edilen bulgulara göre, emek ve sermaye arasındaki ikame esnekliği gelişmiş ülkelerde birden büyük, gelişmekte olan ülkelerde ise birden küçük olarak tahmin edilmiştir.
Discussions on the production function have always attracted the attention of economists. The aim of this study is to predict scale elasticity, output elasticity and elasticity of substitution for developed and developing countries, based on Cobb-Douglas, CES and VES production functions. The model has been created for four inputs (labor, capital, natural gas and oil). In the study, linear and nonlinear panel data analysis techniques were used for 22 developed and 12 developing countries by data for the period 1982-2014. Findings obtained from the Cobb-Douglas production function show that the output elasticity of capital is higher in developed countries and the output elasticity of capital is lower in developing countries. Moreover, while the output elasticity of natural gas consumption was statistically insignificant in the developing country group, the output elasticity of oil consumption was seen to be higher in developed countries. According to the CES production function, the elasticity of substitution between labor and capital was estimated to be greater than one in developed countries. Similarly, the elasticity of substitution between labor and capital was estimated to be smaller than one in developing countries.
Discussions on the production function have always attracted the attention of economists. The aim of this study is to predict scale elasticity, output elasticity and elasticity of substitution for developed and developing countries, based on Cobb-Douglas, CES and VES production functions. Model has been created for four inputs (labor, capital, natural gas and oil). In the study, linear and nonlinear panel data analysis techniques were used for 22 developed and 12 developing countries by data for the period 1982-2014. Findings obtained from the Cobb-Douglas production function show that output elasticity of capital is higher in developed countries and output elasticity of capital is lower in developing countries. Moreover, while the output elasticity of natural gas consumption was statistically insignificant in the developing country group, the output elasticity of oil consumption was seen to be higher in developed countries. According to the CES production function, the elasticity of substitution between labor and capital was estimated to be greater than one in developed countries. Similarly, the elasticity of substitution between labor and capital was estimated to be smaller than one in developing countries.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Ulusal
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