本人想计算中国制造业各细分行业全要素生产率,使用索洛余值估计方法,数据来自中国工业经济年鉴,其中产出是各工业行业总产值(当年价,亿元),资本用固定资产年末平均余额(当年价,亿元),劳动力用各行业全部从业人员平均人数(万人),使用各变量对数值进行估计,结果资本产出弹性大于1,这是怎么回事??大神指点下啊!!!
Dependent Variable: LOG(Y)
Method: Panel Least Squares
Date: 07/17/15 Time: 15:37
Sample: 2001 2011
Periods included: 11
Cross-sections included: 14
Total panel (balanced) observations: 154
Variable Coefficient Std. Error t-Statistic Prob.
C -2.214797 0.447168 -4.952943 0.0000
LOG(K) 1.239143 0.094922 13.05438 0.0000
LOG(L) 0.271000 0.177949 1.522907 0.1301
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.962451 Mean dependent var 9.475352
Adjusted R-squared 0.958370 S.D. dependent var 1.122649
S.E. of regression 0.229058 Akaike info criterion -0.011585
Sum squared resid 7.240555 Schwarz criterion 0.303942
Log likelihood 16.89208 Hannan-Quinn criter. 0.116581
F-statistic 235.8164 Durbin-Watson stat 1.923487
Prob(F-statistic) 0.000000