Examinando por Materia "production function"

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    Could the Colombian economy grow faster? How it would be possible?
    (Universidad EAFIT, 2021-10-17) Posada Posada, Carlos Esteban; Universidad EAFIT
    This paper presents an economic growth model based on the positive externalities generated by the accumulations of physical and human capital. Such externalities imply, at the macroeconomic level, increasing returns to scale. The model helps to better understand the Colombian economic growth process from 2005-2019, and make conditional forecasts. One of the big obstacles in Colombia to have higher growth rates of the per capita product in the long term is everything that is slowing down a higher human capital growth rate and a greater creation of externalities derived from human capital, that is, everything that is hindering improvements in coverage and quality of the educational process.
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    An estimate of Total Factorial Productivity in Colombia at the level of departments and industrial divisions
    (Universidad EAFIT, 2020-03-11) Rivera Arbeláez, Mateo Andrés; Torres Garcia, Alejandro; mariveraa@eafit.edu.co; atorres7@eafit.edu.co
    In this paper, we estimate the Total Factor Productivity (TFP) for 11 departments and 20 industrial divisions in Colombia during the period 2012-2016. To this end, we employ a semiparametric method proposed by Levinsohn and Petrin (2003), using official information of the Encuesta Anual Manufacturera –EAM (Annual Manufacturing Survey), which considers microdata information of most Colombian manufacturing firms. The departments of Bolivar, Bogotá, Cundinamarca and Antioquia exhibits the higher productivity growth during the period, in contrast with Valle del Cauca, Cauca and Tolima, which shows the lowest performance. In terms of industrial divisions, it stands out the Manufacture of pharmaceuticals, medicinal chemical and botanical products; Manufacture of chemicals and chemical products and Manufacture of electrical equipment; while traditional sectors as Manufacture of food products, beverages and textiles reports the lower productivity growth levels. This results remarks the importance to implement policies that helps to improve the industrial performance of some strategic sectors as a way to close the income gap between regions.
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    Potential growth in Central America and the Dominican Republic: Was there a pre-pandemic new normal?
    (Universidad EAFIT, 2021-10-11) Maldonado, Leonardo; Inter-American Development Bank
    This paper explores the potential growth of Central America and the Dominican Republic after the 2008-2009 crisis to shed light on their 2020 pre-pandemic macroeconomic vulnerability and to ascertain that the observed path is deviating more than before from its potential. Using Hodrick-Prescott filter by constrained minimization, production function, regime-switching models, and Bayesian model averaging, the main findings suggest a pre-pandemic regional slowdown. By country, there are mixed results. This scenario was not only driven by international factors but by particularities; on the one hand, statistical models show higher potential growth, and, in a less favorable context, the region would be closer to the structural performance; on the other hand, individual factors are hindering potential growth.