Returns To Scale, Technıcal Psogress And Output Groyvth In Branches Of Industry: The Case Of Comecon, 1961-1975

Date

1987

Author

Bairam, Erkin İ.

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In this article the degree of returns to scaîe and the rate of technical progress for six majör branches of the European COMECON industry are estimated using orthodox production function specifications and the Verdoorn Law. The results proyide no support for the hypothesis of increasing returns to scale. Ali six branches are subject ıo either constant or decreasing returns. Estimates of the rate of technical progress obtained suggest the rate differs from one branch to another and that the heavy industry branches are more progressive than the rest. These estimates also confirm the validity of the diffusion hypothesis. They reveal that the less developed COMECON countries experience significantly faster rates of technical progress when compared with the more developed ones.

URI

https://hdl.handle.net/11511/110560

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Department of Economics, Article