ABSTRACT

In this article we investigate the relationship between productivity and profitability, and their drivers: changes in outputs, output and input prices, technical change, technical efficiency change, and scale and mark-up effects. We apply profit decomposition to the water and sewerage companies in England and Wales in 1991–2016. We find that over this period their profit and productivity increased by 4% and 2.5% per year, respectively. Technical change, scale and mark-up effects, and output and input prices contributed positively to profit growth, while the impact of technical efficiency change, although positive, was small.

摘要

在这篇文章中，我们调查了生产力和盈利能力之间的关系，以及它们的驱动因素：产出、产出和投入价格的变化、技术变革、技术效率变化以及规模和加价效应。我们对 1991-2016 年英格兰和威尔士的供水和污水处理公司应用利润分解。我们发现，在此期间，他们的利润和生产力分别以每年 4% 和 2.5% 的速度增长。技术变革、规模和加成效应、产出和投入价格对利润增长有积极贡献，而技术效率变化的影响虽然是积极的，但影响很小。