Title: Firm Productivity in Jamaica: An Investigation of Total Factor Productivity with Micro-Level Firm Data.
Abstract:This paper examines productivity at the firm level using panel data of publicly listed companies in Jamaica between 1998 and 2009. The paper uses a Taylor series expansion to approximate the two input...This paper examines productivity at the firm level using panel data of publicly listed companies in Jamaica between 1998 and 2009. The paper uses a Taylor series expansion to approximate the two input CES production technology from which estimates of TFP are derived. The estimates of TFP were then used in a dynamic panel estimation model with factors thought to influence productivity changes. The analysis finds that low productivity among firms in Jamaica is due to the low skill level, which limits the positive impact on productivity growth of technology and economies of scale. The paper posits that improving percentage of skilled workers level by 1 per cent can increase productivity growth by 0.03 per cent. It also concludes that increased capacity utilization has leads to production growth. The development of human capital to boost labour productivity remains a key area to be addressed.Read More
Publication Year: 2011
Publication Date: 2011-01-01
Language: en
Type: article
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Cited By Count: 1
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