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Money and Biased Technical Progress: A Further. Test on 'Monetization as Technological Innovation' Hypothesis


Citation

Habibullah, Muzafar Shah (1993) Money and Biased Technical Progress: A Further. Test on 'Monetization as Technological Innovation' Hypothesis. Pertanika Journal of Social Sciences & Humanities, 1 (1). pp. 81-90. ISSN 0128-7702

Abstract / Synopsis

Recent studies have tested the hypothesis of 'monetization as technological innovation' for the Indian economy. The objective of this paper is to test the above hypothesis on the the Malaysian rubber estate sector data over the period 1962-89. We seek to determine the bias in technical change on labor and capital in the rubber estate sector economy. In this study, we use both the conventional and the error correction model of production function. Results indicate that the total bias in technical change is labor saving. The study further points out that the failure to appropriately allow for non-stationary il1legrated variables in estimation has led lO estimates which are subjected to substantial upward bias.


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Additional Metadata

Item Type: Article
Divisions: Faculty of Economics and Management
Publisher: Universiti Putra Malaysia Press
Keywords: Money, biased technical progress, 'monetization as technological innovation'
Depositing User: Nur Izyan Mohd Zaki
Date Deposited: 19 Nov 2009 16:21
Last Modified: 27 May 2013 15:04
URI: http://psasir.upm.edu.my/id/eprint/2955
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