IJIMT 2013 Vol.4(2): 242-247 ISSN: 2010-0248
DOI: 10.7763/IJIMT.2013.V4.399

Analysis of Factor Elasticity and Total Factor Productivity in Prefectural Economies in Japan

Koki Kyo and Hideo Noda
Abstract— General forms of models for the cross-prefectural production function in Japan are constructed. In addition, a set of procedures for parameter estimation based on Bayesian linear modeling and the Bayesian model average approach are developed. We also show the results of parameter estimation for analyzing the structure and performance of prefectural economies in Japan. Finally, based on the estimated results, similarities in prefectural economies in Japan are analyzed using a multi-dimensional scaling method.

Index Terms— Cross-prefectural production function models, Japanese regional economy, Bayesian linear models, Bayesian model averaging.

K. Kyo is at Obihiro University of Agriculture and Veterinary Medicine, Hokkaido, Japan (e-mail: kyo@obihiro.ac.jp). H. Noda is in the Faculty of Literature and Social Sciences, Yamagata University, Yamagata, Japan (e-mail: noda@human.kj.yamagata-u.ac.jp).

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Cite: Koki Kyo and Hideo Noda, " Analysis of Factor Elasticity and Total Factor Productivity in Prefectural Economies in Japan," International Journal of Innovation, Management and Technology vol. 4, no. 2, pp. 242-247, 2013.

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