Factor-Biased Technical Change: Definition and Its Mearsurement

Xue-Qin Lu ； Shang-Feng Zhang

《管理科學與統計決策》 8卷3期 (2011/09) Pp. 1-16

https://doi.org/10.6704/JMSSD.2011.8.3.1

並列摘要

This paper clarifies the concepts of factor-augmenting, factor-biased and factor-saving technical change by tracing back to the original definitions and using CES production function. Make a comparison between Hicks factor-biased technical change and Harrod factor-biased technical change. Use time-series data of China from 1978 to 2008 to estimate elasticity of substitution between capital and labor, then compute the value of factor-augmenting and factor-biased technical change. The results show that in the sample period elasticity of substitution between capital and labor is less than 1, and in most years the direction of technical change is factor-biased.

並列關鍵字

Factor-augmenting Technical Change ； Hicks Factor-biased Technical Change ； Harrod Factor-biased Technical Change ； Elasticity of Substitution

參考文獻

Acemoglu, D.(2002).Directed technical change.Review of Economic Studies.69(4),781-809.

Acemoglu, D.(2003).Labor and capital augmenting technical change.Journal of the European Economic Association.1(1),1-37.

David, D.L.,Liu, L.L.,Wang, H.L.(2009).Changes in the labor share of GDP: a U-shaped curve.Social Sciences in China.4,131-153.

D. Li (2003), Technical change and factor income distribution, China Center for Economic Research (unpublished).

Jones, H.G.(1975).An introduction to modern theories of economic growth.New York:McGraw-Hill.