engleski

The impact of transition on the production function

It has been assumed that the transition process induces, as far as evaluated parameters of the production function are concerned, significant changes and lack of logic from both the statistical and economic standpoints. Production function parameters, being a substantial part of economic theory, approximately point out real entrepreneurs" efficiency, existing economies of scale, production factors substitution possibilities, rate of technological progress etc. Therefore, the evaluation of such parameters related to the industry sector as a whole in the pre-transitional and transitional period could provide quite a valuable means of analysis of changes provoked by the transition in Croatian economy.

production function; parameters evaluation; transition impact

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