Dynamics in the Returns to Capital: Natural Experimental Evidence from Indonesia.

IF 1.8 3区经济学 Q3 DEVELOPMENT STUDIES

Journal of Development Studies Pub Date : 2022-01-01 DOI:10.1080/00220388.2021.2003334

Po Yin Wong

引用次数: 0

Abstract

This paper uses the 2004 Indian Ocean tsunami as a natural experiment to estimate returns to capital over time. With a sample of surviving fishermen who lost their boats and received aid boats, we find that more productive fishermen before the disaster retained their productive edge ex-post, controlling for boat quality and fishing conditions. Returns to innate ability, measured by ex-ante productivity, became more important over time; while returns to physical capital became less important. These findings highlight the importance of innate ability in explaining long-run productivity.

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资本回报的动态:来自印度尼西亚的自然实验证据。

本文使用2004年印度洋海啸作为自然实验来估计资本随时间的回报。通过对失去渔船并获得援助渔船的幸存渔民的抽样调查，我们发现，在控制渔船质量和捕捞条件的情况下，灾难前生产力更高的渔民在灾难发生后保持了生产力优势。以事前生产力衡量的先天能力的回报，随着时间的推移变得越来越重要;而实物资本的回报率变得不那么重要了。这些发现强调了先天能力在解释长期生产力方面的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Development Studies Multiple-

CiteScore

5.20

自引率

3.40%

发文量

138

期刊介绍： The Journal of Development Studies was the first and is one of the best known international journals in the area of development studies. Since its foundation in 1964, it has published many seminal articles on development and opened up new areas of debate. Priority is given to papers which are: • relevant to important current research in development policy, theory and analysis • make a novel and significant contribution to the field • provide critical tests, based on empirical work, of alternative theories, perspectives or schools of thought We invite articles that are interdisciplinary or focused on particular disciplines (e.g. economics, politics, geography, sociology or anthropology), with an expectation that all work is accessible to readers across the social sciences. The editors also welcome surveys of the literature in important fields of development policy. All research articles in this journal undergo rigorous peer review, based on initial editor screening and anonymous peer review. Given the high level of submissions, a majority of submissions are rejected quickly with reasons.