英文摘要 |
The previous measures of multifactor productivity growth have been based on homogenous inputs, and have assumed all inputs are instantaneously adjustable, and thus ignore the important impacts of short-run fixity of certain primary inputs (not intermediate inputs). The main objective of this paper is to construct indexes of long-term agricultural multifactor productivity growth since 1952. The indexes take into account the adjustment of the observed productivity measures. Empirical results find that pervasive and chronic excess capacity exists in Taiwan's agricultural sector. In addition, it is found that the multifactor productivity growth decline slowly in the 1980's and more repidly in the 1990's. |