International Journal of Organizational Leadership

Abstract

This study estimated the rate of productivity of human resources, capital, and energy (electricity) in a selection of sub-sectors of industry (basic metals, chemicals, non-metallic minerals, rubber and plastic products, and food products) during 1991-2011 using the econometric methods. For this purpose, first, the amount of the stability of the models variables in time series was tested. Then, the existence of co-integration between them was determined and, finally, the productivity of the model was calculated using ARDL. According to the results, the elasticity of labor force, capital and energy were 1.07, 1.47 and -0.23, respectively.