An Empirical Study on Impacts of Allocative Distortions on noductivity of the Japanese Economy

本研究的目的是通过新技术分析日本经济的效率和生产率，揭示90年代日本经济长期停滞的原因。标准的全要素生产率方法不足以达到这个目的，因为它假设不存在无效率。以往关于日本经济效率分析的研究，也大多集中于技术效率的测定，忽视了配置效率，因此也不尽如人意。我们将配置效率与技术效率结合起来衡量，从而评估资源扭曲对成本和生产率的影响。Kumbhamar and Wang（2006），J. of Economet，419-440，已经估计了结合配置效率和技术效率的translog距离函数模型。我们扩展了这个模型，利用输入和输出距离函数之间的转换方程，简化了非线性规划问题测量的最佳水平的投入。基于这一分析框架，本文进行了三项实证研究。本文首先利用47个地级市的面板数据对区域宏观经济进行了分析。结果表明，1997年平成金融危机以来，日本经济的配置效率随着劳动力的迅速调整而开始改善。其次，传输dist：洗脱电力与日本九个电力公司的面板进行了检查。本研究表明，在20世纪90年代后期，随着监管改革的启动，成本效率不断提高。第三，分析固体废物管理活动，以评估公共部门的生产力和效率。结果表明，我们的效率分析是有前途的基准工具，公共部门

This study aims to analyze efficiency and productivity of the Japanese economy using new techniques to uncover why the Japanese economy stagnated so long during the 1990s. A standard method of total factor productivity is not adequate for this purpose because it assumes that no inefficiency exists. Most previous studies of efficiency analysis on the Japanese economy are also unsatisfactory because they focus on measurement of technical efficiency and ignore allocative efficiency. We measure allocative efficiency jointly with technical one so that the impacts of resource distortions on cost and productivity axe evaluated. Kumbhamar and Wang (2006), J. of Economet, 419-440, already estimate the translog distance function model incorporating both allocative and technical efficiencies. We extend this model by exploiting a conversion equation between input and output distance functions, which simplifies the nonlinear programming problem measuring the optimal levels of inputs. Based on this analytical framework, three empirical studies are conducted. Firstly regional macro economy is analyzed with a panel data on 47 social prefectural account. The result shows that allocative inefficiency of the Japanese economy started to improve accompanied by rapid labor adjustment since Heisei financial crisis 1997. Secondly, the transmission-dist: elution electricity is examined with a panel on nine Japanese electric utilities. This study shows that the cost efficiency was continuously improved during the late 1990s that coincide with the startup of the regulatory reform. Thirdly solid waste management activity is analyzed to evaluate productivity and efficiency of the public sector. The results show that our efficiency analysis is promising as a benchmarking tool for public sector