應用隨機邊界模型探討收斂假說－兼論人力資本、金融發展與經濟成長之關係

Applying the Stochastic Frontier Model to Test the Convergence Hypothesis: The Interrelationships among Human Capital, Financial Development, and Economic Growth

黃台心(Tai-Hsin Huang) ； 陳盈秀(Ying-Hsiu Chen) ； 鍾銘泰(Ming-Tai Chung) ； 林延霖(Yen-Lin Lin)

《經濟研究》 50卷1期 (2014/01) Pp. 101-140

摘要

本文旨在建立隨機邊界產出成長率函數，在變動規模報酬的假設下，探討起始所得水準、實體資本、金融發展、人力資本與勞動力對各國經濟成長之影響，進而重新檢視收斂假說，並進行國家技術效率與總要素生產力分解之跨國分析。蒐集1980年至2000年74個樣本國家之平衡縱橫資料，實證分析主要發現有四：（i）實體資本與人力資本具有互補關係，金融發展與實體資本具替代性，但與人力資本呈互補關係；（ii）低、中所得國家皆呈現所得收斂現象，且低所得國家之收斂速度較快，而高所得國家則無所得收斂情形；（iii）高所得國家享有較高的資本邊際生產力，低所得國家則以勞動與人力資本的邊際貢獻較大，並享有規模經濟；（iv）全體國家之總要素生產力平均以每年3.52%的速度成長，其中以中所得國家速度最快；中、高所得國家主要成長來源皆為技術進步，低所得國家則為規模效果。

關鍵字

收斂假說 ； 邊際生產力 ； 技術效率 ； 總要素生產力 ； 隨機邊界法

並列摘要

This study applies the stochastic translog production frontier under variable returns to scale to investigate the effects of initial income, capital stock, financial development, human capital, and labor on a country's economic growth, in which each variable is transformed by taking the first difference in order to delete any inherent non-stationarity. This modeling tests the convergence hypothesis and decomposes productivity change into various elements. We collect data from 74 countries, covering 1980-2000, and find evidence that capital stock and human capital are complements, and that financial development is a substitute for human capital, but a complement for human capital. This study supports the convergence hypothesis through low and middle-income countries, whereby the speed of convergence in low-income countries is faster than in middle-income countries, while this study rejects the hypothesis for high-income countries. We note that the marginal productivity of capital of high-income countries is the highest, and that the marginal productivities of labor and human capital of low-income countries are the highest. Moreover, the average growth rate of total factor productivity for the sample states is equal to 3.52% per annum.

並列關鍵字

Convergence Hypothesis ； Marginal Productivity ； Technical Efficiency ； Total Factor Productivity ； Stochastic Frontier Approach

參考文獻

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