Productivity and Factor Substitution: Theory and Analysis

This book provides a lucid exposition of the concepts of ‘productivity and factor substitution’. The book is designed to acquaint scholars and students in economics with some recent developments in measurement of productivity and elasticity of substitution. The book may be used as a text-book or as a reference text. As a text-book, it could be used in the course of industrial economics. The researchers, policy-makers may use this book as a reference for analysing the inter-state productivity differentials in Indian manufacturing sector. In short, the book supplies a ‘first port of call’ for people wishing to study productivity, efficiency and elasticity of substitution analysis.