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Evaluation of the Impact of Exhaustible Energy Resources on Factor Productivity

Karami Darabi, Mohammad | 2015

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 47305 (46)
  4. University: Sharif University of Technology
  5. Department: Energy Engineering
  6. Advisor(s): Saboohi, Yadollah
  7. Abstract:
  8. Economics is the science of using scarce resources, which helps to identify the optimal use of economic resources. Enhancement of productivity leads more efficient use of resources in economics sectors. Identification of ways and means of improving productivity is an important policy issue which requires an analysis of the effects of determinants of productivity. In the present research work, Total Factor Productivity (TFP) has been econometrically estimated; based on production function theory. Application of this concept indicates that the elasticities of total value-added (i.e. GDP minus oil rents) with respect to physical capital and labor are 0.8 and 0.2 respectively. It is further observed that elasticities of total productivity with respect to capital-labor ratio, real exchange rate, labor force and R&D expenditure are estimated to be 0.25, 0.22 0.85 and 0.52 respectively. Analysis of the impact of oil revenues on TFP shows that, one percent increase in government oil incomes leads to 0.001 to 0.08 percent increase in total productivity due to physical capital formation. Furthermore, one percent increase in human capital and domestic R&D expenditure leads to 0.038 and 0.52 percent increase in total productivity. Additionally, on average, one percent growth in physical capital in oil sector, causes 0.0145 percent increase in TFP
  9. Keywords:
  10. Total Factor Productivity (TFP) ; Production Function ; Vector Error Correction Model ; Influential Factors ; Exhaustible Energy Resources

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