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

这项研究旨在使用新技术分析日本经济的效率和生产率，以揭示日本经济在20世纪90年代停滞不前的原因。全要素生产率的标准方法不能满足这一目的，因为它假定不存在低效。以往对日本经济效率分析的研究也大多不尽如人意，因为它们侧重于技术效率的衡量，而忽视了配置效率。我们将配置效率和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。Kumhamar和Wang(2006)，J.Economet，419-440已经估计了包含配置效率和技术效率的跨对数距离函数模型。我们通过利用输入和输出距离函数之间的转换方程来扩展该模型，从而简化了衡量最优输入水平的非线性规划问题。基于这一分析框架，本文进行了三项实证研究。首先，利用47个地级社会账户的面板数据对区域宏观经济进行了分析。结果表明，自1997年平成金融危机以来，伴随着劳动力的快速调整，日本经济的配置效率开始改善。其次，用九家日本电力公司的面板检查了输电-扩散：洗脱电力。研究表明，在20世纪90年代末，随着监管改革的启动，成本效率不断提高。第三，对固体废物管理活动进行分析，以评估公共部门的生产力和效率。结果表明，我们的效率分析作为公共部门的基准工具是有前景的

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