Stochastic analysis of the economic growth of OECD countries

Figures & data

Table 1. Maximum likelihood estimates of technical efficiency, Cobb-Douglas model.

	Coefficient	Standard-error	t-ratio	p-value
β0	5.67E + 11	1.00E + 00	5.67E + 11	1.21E-35
ln(L)	–3.90E + 09	1.00E + 00	–3.9E + 09	3.73E-29
ln(S)	5.32E + 04	3.23E + 00	16504.12	4.91E-13
ln(K)	3.83E + 08	1.00E + 00	3.83E + 08	3.93E-26
ln(kWh)	2.92E + 00	6.48E-02	45.01	2.41E-05
gamma	9.03E-01	8.86E-03	101.93	2.08E-06
eta	1.95E-02	7.71E-03	2.53	8.54E-02

Table 2. Maximum likelihood estimates of technical efficiency translogarithmic model.

	Coefficient	Standard-error	t-ratio	p-value
β0	5.39E + 00	4.51E-01	1.19E + 01	0.001261553
ln(L)	–1.03E-02	2.90E-04	–3.54E + 01	4.96271E-05
ln(S)	4.64E-01	3.21E-02	1.45E + 01	0.000718154
ln(K)	4.89E-03	7.49E-04	6.52E + 00	0.00731463
ln(kWh)	4.88E-01	1.04E + 00	4.69E-01	0.671039447
ln(L)*ln(S)	4.59E-03	1.04E-02	4.42E-01	0.688711587
ln(L)*ln(K)	1.06E + 00	1.03E + 00	1.02E + 00	0.382132206
ln(L)*ln(kWh)	1.06E-02	1.03E-02	1.03E + 00	0.380159582
ln(S)*ln(K)	3.38E-01	3.38E-01	1.00E + 00	0.390932551
ln(S)*ln(kWh)	3.87E-03	3.39E-03	1.14E + 00	0.336863163
ln(K)*ln(kWh)	–2.63E-02	5.97E-02	–4.41E-01	0.689088905
ln(L)^2	–1.81E-04	6.72E-04	–2.69E-01	0.805066677
ln(S)^2	–3.41E-02	5.93E-02	–5.76E-01	0.605125502
ln(K)^2	–4.25E-04	6.53E-04	–6.51E-01	0.561233229
ln(kWh)^2	–5.12E-03	1.89E-02	–2.70E-01	0.804459088
gamma	8.99E-01	1.52E-02	5.91E + 01	1.06666E-05
eta	5.58E-02	7.58E-03	7.36E + 00	0.0051889

Table 3. Efficiency results for the OECD member countries (2003–2012).

Trans-log function			Cobb-Douglas function
1	United Kingdom	0.848	1	USA	0.994
2	Ireland	0.782	2	United Kingdom	0.810
3	Luxemburg	0.779	3	France	0.760
4	Germany	0.769	4	Italy	0.730
5	Italy	0.766	5	Germany	0.682
6	Switzerland	0.755	6	Canada	0.673
7	USA	0.754	7	Japan	0.671
8	France	0.750	8	Spain	0.601
9	Denmark	0.742	9	Australia	0.592
10	Netherlands	0.706	10	Netherlands	0.547
11	Belgium	0.701	11	Switzerland	0.488
12	Japan	0.673	12	Sweden	0.476
13	Austria	0.647	13	Belgium	0.463
14	Sweden	0.629	14	Norway	0.442
15	Norway	0.627	15	Austria	0.416
16	Greece	0.612	16	Greece	0.410
17	Israel	0.597	17	Denmark	0.406
18	Spain	0.589	18	Ireland	0.391
19	Australia	0.566	19	Korea	0.388
20	Finland	0.552	20	Finland	0.341
21	Turkey	0.547	21	Turkey	0.340
22	Canada	0.539	22	Portugal	0.314
23	Portugal	0.528	23	Poland	0.311
24	New Zealand	0.503	24	Mexico	0.290
25	Hungary	0.480	25	Israel	0.272
26	Mexico	0.470	26	Czech Republic	0.234
27	Poland	0.466	27	New Zealand	0.210
28	Chile	0.442	28	Chile	0.210
29	Iceland	0.412	29	Hungary	0.202
30	Slovenia	0.410	30	Slovakia	0.152
31	Slovakia	0.408	31	Luxemburg	0.127
32	Korea	0.399	32	Slovenia	0.095

Figure 1. Chart of the evolution of technical efficiency for the OECD member countries (2003–2012).