茲依據本研究相關於台灣的發現與結論，簡述如下。我國資本和勞動的平均產量彈性皆低於樣本平均值，為達到有效促進生產提升勞力素質以及加速投資為當務之急。平均規模彈性估計值約0.5970，尚未達最適生產規模；在二氧化碳密度平均值高達1.1489，環境污染防制極需改善。 This paper proposes an aggregate production function, in which all of the variables are expressed in the first difference form to eliminate the nonstationarity of the variables. To estimate production efficiency and the total factor productivity (TFP), we collect data for 34 countries of OECD and East Asia in the period 1985-2000. After obtaining the parameter estimates, the rate of change of TFP is decomposed into technical progress, rate of change in technical efficiency, and scale effects.
We find that the average output elasticity capital and labor are both positive. Divided the sample countries into four categories, i.e., G-7, non G-7, four Asian dragons, and non Asian dragons. Evidence is found that the value of scale effect of G-7 is greater than one, the rest of three categories are less than one. Generally speaking, the technical progress dominates the other two components to TFP growth.
Valuable policy implications for Taiwan can be drawn on the basis of our empirical results. Due to the output elasticity of labor and capital in Taiwan are much lower than the sample average, it should work every efforts to promote the labor quality and to accelerate the investment. The average estimate of scale effect is merely 0.5970, implying that there is large room to improve its production scale. Moreover, the average density of Carbon Dioxide is reaching the edge 1.1489. The regulation of pollutions is deeply in need.
