the importance of managerial ability on crude oil price uncertainty firm performance relationship abstract this paper investigates the effect of crude oil price uncertainty on firm performance and how the managerial ability impacts on this relationship using a large sample of 13 610 u s firms from 1983 to 2016 we reveal two main findings consistent with our hypothesis we find strong evidence for a negative effect of crude oil price uncertainty on firm performance at both aggregate market and sectoral levels however managerial ability helps firms dampen a significant proportion approximately 20 50 of the negative effect these findings are consistent in several robustness tests

forward looking assessment of the ghg abatement cost application to china abstract evaluation of abatement costs is critical in setting reduction goals and devising climate policy however reliable forward looking assessment of the short term effects of climate policy remains a major challenge using panel data of 30 chinese provinces during 1997 2015 we first estimate the marginal co2 abatement costs using a novel data driven approach convex quantile regression based on the marginal abatement cost estimates and china s plans regarding carbon intensity reduction and economic growth we present a forward looking assessment of the abatement costs for chinese provinces for 2016 2020 our main finding is that all the chinese provinces have a negative abatement cost which means these provinces can benefit from an increase in the absolute level of co2 emissions despite the constraint on carbon intensity the magnitudes of economic benefits exhibit a significant regional disparity because some provinces can increase more co2 emissions than others however there is still costly carbon intensity abatement relative to a counterfactual where the provinces meet their economic growth targets but in the absence of the intensity reduction constraints policy implications have been proposed to enhance the efficiency and fairness of climate policy in china

total factor carbon emission performance of the chinese transportation industry a bootstrapped non radial malmquist index analysis this paper proposes a non radial malmquist co2 emission performance index nmcpi for measuring dynamic changes in total factor co2 emission performance over time this index enables the consideration of non radial slacks in the conventional malmquist co2 emission index mcpi the nmcpi is calculated based on a non radial directional distance function derived by several data envelopment analysis dea models furthermore nmcpi could be decomposed into an efficiency change ec index and technological change tc index a bootstrapping approach is conducted to introduce statistical inferences into the nmcpi and its decompositions based on the proposed indices the dynamic co2 emission performance change and its decompositions of the chinese regional transportation industry from 2002 to 2010 are investigated the empirical results demonstrate that the total factor carbon emission performance of the transportation industry as a whole decreased by 32 8 over the period and this reduction was primarily caused by technological decline

tourism as a long run economic growth factor the spanish case this paper examines the role of tourism in the spanish long run economic development the tourism led growth hypothesis is confirmed through cointegration and causality testing the results indicate that at least during the last three decades economic growth in spain has been sensible to persistent expansion of international tourism the increase of this activity has produced multiplier effects over time external competitivity has also been proved in the model to be a fundamental variable for spanish economic growth from the empirical analysis it can be inferred the positive effects on income that government policy in the adequacy of supply as well as in the promotion of tourist activity may bring about

the contribution of tourism development to economic growth in the korean economy abstract this study investigates the causal relations between tourism growth and economic expansion for the korean economy by using engle and granger two stage approach and a bivariate vector autoregression var model two principle results emerge from this study first the results of a cointegration test indicate that there is no long run equilibrium relation between two series second the outcomes of granger causality test imply the one way causal relationship of economic driven tourism growth the hypothesis of tourism led economic growth is not held in the korean economy this consequence is supported by testing the sensitivity of causality test under different lag selections along with the optimal lag

estimating the bias in technical change a nonparametric approach in this note we propose a nonparametric methodology to estimate the bias in technical change we apply the model to estimate the direction of technical progress for a sample of 81 countries covering the period 1970 2014 our results confirm previous findings that during the 1980s technical change in industrialized countries has become increasingly capital using moreover we find that patterns in the bias of technical change have converged among different country groups after the productive decade 1995 2004

time series forecasts of international travel demand for australia abstract this paper analyses stationary and non stationary international tourism time series data by formally testing for the presence of unit roots and seasonal unit roots prior to estimation model selection and forecasting various box jenkins autoregressive integrated moving average arima models are estimated over the period 1975 1 1989 4 for tourist arrivals to australia from hong kong malaysia and singapore the mean absolute percentage error and root mean squared error rmse are used as measures of forecast accuracy as the best fitting arima model is found to have the lowest rmse this model is used to obtain post sample forecasts tourist arrivals data for 1990 1 1996 4 are compared with the forecast performance of the arima model for each origin market the fitted arima model forecasts tourist arrivals from singapore for the period 1990 1 1996 4 very well although the arima model outperforms the seasonal arima models for hong kong and malaysia the forecasts of tourist arrivals are not as accurate as in the case of singapore

the global financial crisis explaining cross country differences in the output impact abstract what explains differences in the crisis impact across developing countries and emerging markets using cross country regressions to assess the factors driving the growth performance in 2009 compared to pre crisis forecasts for that year we find that a small set of variables explain a large share of the variation in the growth impact countries with more leveraged domestic financial systems stronger credit growth and more short term debt tended to suffer a larger effect on economic activity although the relative importance of these factors differs across country groups for emerging markets this financial channel trumps the trade channel for a broader set of developing countries however the trade channel seems to have mattered with more open countries affected more strongly and those exporting food commodities being less hard hit exchange rate flexibility helped in buffering the impact of the shock particularly for emerging markets there is also some evidence that countries with a stronger fiscal position prior to the crisis were impacted less severely we find little evidence for the importance of other policy variables

operationalizing opportunities in entrepreneurship research use of data envelopment analysis despite the impressive development of substantive theories in entrepreneurship without the development of measurement theories further advancement of the field is problematic in particular the notion of opportunities central to entrepreneurship research requires adequate macro level operationalization we demonstrate how to employ data envelopment analysis dea to operationalize not only innovative opportunities but also technological arbitrage opportunities we provide an illustrative example based on a sample of 66 countries during the period of 1993 2002 we include estimates of innovative and arbitrage opportunities for possible use by other scholars discuss the promise and limitations of such estimates demonstrate how both innovative and arbitrage opportunities correlate with the rates of entrepreneurial activity and suggest several possible directions for future research

productivity growth and biased technological change in hydroelectric dams abstract this paper analyses productivity growth and the nature of technical change in a sample of portuguese hydroelectric generating plants over the period 2001 to 2008 in a first step we employ the luenberger productivity indicator to estimate and decompose productivity change a malmquist productivity index is also used for a comparative purpose the results paint a picture of mixed productivity performance in the portuguese energy sector the first decomposition underlines that in average the productivity variation is explained by the technological change then in a second step we analyse the nature of this technical change by using the recent concept of parallel neutrality briec et al 2006 we observe a global shift in the best practice frontier as well as in the evidence of input bias in technical change

organizing the global value chain a firm level test in this paper we study the organization of global value chains on a sample of about 4 000 manufacturing parent companies operating more than 90 000 affiliates on a global scale which chose to integrate at least once in the period 2004 2012 assuming a technological sequence of production stages a recent property rights framework antra s and chor 2013 alfaro et al 2015 predicts that a choice of vertical integration is crucially based on both the position of a supplier along the chain and on the relative size of demand elasticities faced by the final producer and the supplier we positively test whether if final demand is sufficiently elastic inelastic producers of final goods integrate production stages that are more proximate to far from the consumers however this is not valid for cases of midstream parents i e for producers of intermediate inputs that can integrate either backward or forward along the chain we document that midstream are at least as common as are downstream parent companies but that existing theory neglects them in these cases we find that demand elasticities do not play a significant role in integration choices interestingly both midstream and downstream parents tend to integrate affiliates that are more proximate in segments of a supply chain our findings point to a role for technological determinants that may be as important as are contracting frictions in organizing global value chains

some models for estimating technical and scale inefficiencies in data envelopment analysis in management contexts mathematical programming is usually used to evaluate a collection of possible alternative courses of action en route to selecting one which is best in this capacity mathematical programming serves as a planning aid to management data envelopment analysis reverses this role and employs mathematical programming to obtain ex post facto evaluations of the relative efficiency of management accomplishments however they may have been planned or executed mathematical programming is thereby extended for use as a tool for control and evaluation of past accomplishments as well as a tool to aid in planning future activities the ccr ratio form introduced by charnes cooper and rhodes as part of their data envelopment analysis approach comprehends both technical and scale inefficiencies via the optimal value of the ratio form as obtained directly from the data without requiring a priori specification of weights and or explicit delineation of assumed functional forms of relations between inputs and outputs a separation into technical and scale efficiencies is accomplished by the methods developed in this paper without altering the latter conditions for use of dea directly on observational data technical inefficiencies are identified with failures to achieve best possible output levels and or usage of excessive amounts of inputs methods for identifying and correcting the magnitudes of these inefficiencies as supplied in prior work are illustrated in the present paper a new separate variable is introduced which makes it possible to determine whether operations were conducted in regions of increasing constant or decreasing returns to scale in multiple input and multiple output situations the results are discussed and related not only to classical single output economics but also to more modern versions of economics which are identified with contestable market theories

total factor productivity and the measurement of technological change tfp is interpreted in the literature in different mutually contradictory ways changes in tfp are shown to measure not technological change only the super normal returns to investing in such change returns that exceed the full opportunity cost of the activity thus in the limit technological change can proceed with unchanged tfp measuring the effects of technological change instead requires counterfactual estimates reasons why changes in tfp are imperfect measures of super normal returns are also studied reasons connected with the timing of output responses the treatment of r d in the national accounts the omission of resource inputs and two types of aggregation la productivite totale des facteurs et la mesure du changement technologique la productivite totale des facteurs ptf est interpretee dans la litterature de manieres differentes et mutuellement contradictoires on montre que les changements dans la ptf ne mesurent pas le changement technologique mais seulement les rendements supra normaux sur les investissements dans de tels changements des rendements qui depassent le plein cout d opportunite de cette activite donc a la limite le changement technologique peut proceder sans que la ptf change mesurer les effets du changement technique reclame des evaluations d hypotheses de rechange les raisons pour lesquelles les changements dans la ptf sont des mesures imparfaites des rendements supra normaux sont aussi etudiees raisons connectees avec la reponse des niveaux de production le traitement de la r d dans les comptes nationaux l omission des intrants de ressources et deux types d agregation

a caveat on the measurement of productive efficiency abstract the correspondence between used performance measures and enterprise objectives such as profit maximization and cost minimization is fundamental for manufacturing companies this paper identifies and critically examines a minimal set of relevant properties that a productivity index needs to satisfy to rightly assess performance development of a decision making unit commonly applied and suggested productivity measurement techniques such as partial efficiencies total factor productivity tfp index number approaches integrated partial efficiencies and operational competitiveness ratings are analyzed in order to assess the alignment with superior objectives there is a considerable spread in the results of this class of models and the interpretation may prove difficult or misleading as these apparently less complicated productivity measures increasingly are employed as a component in evaluation of manufacturing efficiency the question is of high managerial relevance in particular the paper points out inconsistencies with properties related to commensurability monotonicity and implications of maximizing behavior based on this viewpoint issues such as the consistency with profit maximization will be shown extra interest the paper also provides a critique of previous work in non parametric efficiency analysis where properties have been postulated or based on other arguments the findings suggest that there is no globally superior measurement technique to be found in this class and that care should be taken when evaluating managerial performance not to penalize rational behavior

has china s fast industrial growth been efficient an industry level investigation with a newly constructed data set we adopt contemporaneous nonradial and variable returns to scale assumptions in a data envelopment analysis dea exercise to address the inefficiency problem in chinese industries in different policy regimes using a newly constructed data set for 24 chinese manufacturing industries in 1952 2008 while confirming that the central planning period was indeed a graveyard for productivity that entailed severe technical regress and efficiency losses we do not find a steady improvement in efficiency during the reform period despite strong technical progress we argue that the resurgent prominence of the government and the state sector since the late 1990s especially following china s world trade organization accession has obstructed the efficiency improvement

is there a relationship between international trade and international travel this paper investigates for the first time whether there is a relationship between international trade and international travel flows using time series econometric techniques using data for australia and four important travel and trading partners the usa the uk nz and japan the paper tests three specific hypotheses that business travel leads to international trade that international trade leads to international travel and that international travel other than business travel leads to international trade using cointegration and granger causality approaches the paper finds support for prior beliefs that there is a relationship between international travel and international trade and suggests that this may be a fruitful area for further research

exploring the green total factor productivity of china s metallurgical industry under carbon tax a perspective on factor substitution abstract the characteristics of high emissions and high energy consumption in metallurgical industry have brought great challenges to the green and low carbon transition in china as a low carbon economic instrument carbon tax is generally considered to be an effective way to reduce co2 emissions through raising energy cost but whether it will promote the green total factor productivity gtfp of china s metallurgical industry is still unanswered under this background this paper uses provincial panel data over years 2000 2015 to investigate the impact of carbon taxation on gtfp of metallurgical industry from the perspective of inter fuel and inter factor substitution the lock in mechanism is also incorporated in the three stage estimation model to better reflect the asymmetric price response of factors and fuels the results reveal that the slow marketization process of energy price and the rigid demand for energy in china s metallurgical industry hinder the substitution effect of energy the implementation of carbon tax has limited effect on energy saving and co2 reduction in the metallurgical industry of china and levying a carbon tax has a negative effect on gtfp during the research period therefore the government should not achieve co2 reduction targets at the expense of green economic growth gtfp is suggested to be considered in future assessment criteria in the process of transforming to low carbon economy

technical efficiency and productivity change of china s iron and steel industry abstract the recent economic reform of china s iron and steel industry has resulted in its rapid expansion to become the largest in the world however the resultant increase in the use of energy and other resources has resulted in severe environmental degradation to further increase output while reducing emissions and waste will require increased productivity in this paper the technical efficiency and malmquist productivity indexes of a sample of 88 enterprises producing 72 percent of the industry s output were determined for the period 1989 1997 with the aim of gaining some insights into the policy options likely to achieve this

tourism trade and growth the case of cyprus although the relationship between international trade and economic growth has found a wide application area in the literature over the years this can not be said about tourism and growth or trade and tourism this study employs the bounds test for cointegration and granger causality tests to investigate a long run equilibrium relationship between tourism trade and real income growth and the direction of causality among themselves for cyprus results reveal that tourism trade and real income growth are cointegrated thus a long run equilibrium relationship can be inferred between these three variables on the other hand granger causality test results suggest that real income growth stimulates growth in international trade both exports and imports and international tourist arrivals to the island furthermore growth in international trade both exports and imports also stimulates an increase in international tourist arrivals to cyprus and finally real import growth stimulate growth in real export

foreign direct investment spillovers and technical efficiency in the indonesian pharmaceutical sector firm level evidence the spillovers of foreign direct investment fdi on domestic firms performances have been highly debated for many years this article contributes to this debate by analysing spillovers effects on technical efficiency of indonesian pharmaceutical sector using a unique unbalanced panel of highly disaggregated at five digit international standard industrial classification isic 210 firms over the period 1990 1995 1001 observations the stochastic production frontier spf and the data envelopment analysis dea based on malmquist productivity indices mpi have been used to test the spillovers effects of fdi on technical efficiency the empirical results from the spf show that foreign firms are more efficient than domestic competitors and the presence of the former increases the inefficiency of the latter similarly the results from the mpi demonstrate that fdi has a negative and significant impact on technical efficiency changes in domestic competitors but generate positive spillovers to domestic s

regional low carbon economy efficiency in china analysis based on the super sbm model with co2 emissions abstract as the largest energy consumer and co 2 emitting country the chinese government is committing to a low carbon economy it is meaningful and contributes to evaluate and analyze the low carbon economy efficiency lcee of china a super slack based measure super sbm model with undesirable outputs as combined with the malmquist productivity index is proposed to measure the lcee and the dynamic low carbon economy efficiency dlcee of 30 provinces in mainland china from 2005 to 2012 the theil index is also used to measure the rationalization level of industrial structure rlis for discussing the improvements to the lcee in china the results indicate that the proposed undesirable outputs super sbm model can effectively rank the sbm ef cient provinces china s regional economic development does not follow a low carbon pattern with an average lcee of 0 517 as a whole the china s economic development is gradually following a low carbon development pattern with an annual lcee improvement of 4 5 the rlis of china is also gradually changing better as well through a comparative analysis of the lcee and rlis the 30 provinces are divided into three sub areas and relevant suggestions are presented for improving the lcee of different sub areas in the future

multi period efficiency and malmquist productivity index in two stage production systems abstract conventional two stage data envelopment analysis dea models measure the overall performance of a production system composed of two stages processes in a specified period of time where variations in different periods are ignored this paper takes the operations of individual periods into account to develop a multi period two stage dea model which is able to measure the overall and period efficiencies at the same time with the former expressed as a weighted average of the latter since the efficiency of a two stage system in a period is the product of the two process efficiencies the overall efficiency of a decision making unit dmu in the specified period of time can be decomposed into the process efficiency of each period based on this decomposition the sources of inefficiency in a dmu can be identified the efficiencies measured from the model can also be used to calculate a common weight global malmquist productivity index mpi between two periods in that the overall mpi is the product of the two process mpis the non life insurance industry in taiwan is used to verify the proposed model and to explain why some companies performed unsatisfactorily in the specified period of time

sectoral change catching up and slowing down oecd post war economic growth revisited abstract regression analysis of gdp growth since 1950 on pooled oecd cross sections indicates uniform technological catch up in all sectors but lower marginal labour productivity in agriculture the decline in opportunities to reallocate labour explains some of the post 1973 productivity slowdown

productivity and efficiency change and shareholder value evidence from the spanish banking sector productivity change and shareholder value have been analysed in the banking sector in the last few years although it should be noted that these two important aspects have been studied separately in this regard the main contribution of our study is to link these two lines of research by verifying whether those banks characterized by higher levels of efficiency and productivity change have a higher shareholder value to measure changes in efficiency and productivity we use the malmquist nonparametric technique which is calculated from data envelopment analysis dea linear programming approach the malmquist total factor productivity index enables separation of the catching up effect i e changes over time in technical efficiency from technological change i e the shift of best practice frontier over time due to technological progress our results for a sample of listed spanish banks in the period 2000 to 2004 confirm that those banks with higher efficiency and productivity changes have a higher

regional energy efficiency carbon emission performance and technology gaps in china a meta frontier non radial directional distance function analysis abstract at present china is the largest primary energy consumer and carbon emitter in the world meantime china is a large transitional economy with significant regional gaps against such backgrounds the calculated results of energy and carbon performance indicators may be biased without considering heterogeneity across regions to this end after incorporating region heterogeneity this paper provides detailed information regarding energy efficiency carbon emission performance and the potential of carbon emission reductions from regional perspectives which may be important and useful for policy makers our main findings are as follows firstly there is significant group heterogeneity across regions in china in terms of energy efficiency and carbon emission performance secondly there are no considerable differences between total factor and single factor performance indices since there is limited substitutability between energy inputs and other production inputs finally significant carbon emission reductions can be made by catching up for regions with low energy efficiency and carbon emission performance looking ahead the chinese government should adopt measures to promote improvements in terms of energy efficiency and carbon emission performance in the short term

the impact of environmental expenditures on performance in the u s chemical industry abstract this study analyzes chemical industry companies with environmental expenditures to determine which ones have better financial performance in addition this study uses data envelopment analysis to evaluate the efficiency of firms with and without environmental expenditures this study also utilizes the malmquist productivity index mpi to analyze firms productivity change and a bootstrap method to test whether the indexes are statistically significant finally this study divides chemical industry companies into three main categories based on their products the results of this study provide significant evidence of a relationship between environmental expenditures and financial performance the findings suggest that firms with environmental expenditures have better efficiency and productivity hence the study encourages companies in the industry to put more effort into protecting the environment that can be through practicing cleaner production to create higher benefits

on measuring the efficiency of monetary policy abstract cecchetti et al 2006 develop a method for allocating macroeconomic performance changes among the structure of the economy variability of supply shocks and monetary policy we propose a dual approach of their method by borrowing well known tools from the production theory

the role of environmental factors in growth accounting this paper explores a relatively new methodology the directional distance function method to analyse productivity growth the method allows us to explicitly evaluate the role that undesirable outputs of the economy such as carbon dioxide and other greenhouse gases have on the frontier production process which we specify as a piecewise linear and convex boundary function we decompose productivity growth into efficiency change catching up and technology change innovation we test the statistical significance of the estimates using recently developed bootstrap methods we also explore implications for growth of total factor productivity in the oecd and asian economies copyright 2004 john wiley sons ltd

decomposition of productivity growth using distance functions the case of dairy farms in three european countries within an output distance function framework the total factor productivity growth index is decomposed into four components technical change technical and allocative efficiency and scale component we estimate stochastic translog output distance functions using panel data from dairy farms over the period 1991 94 for three european countries germany the netherlands and poland results indicate that the change in the productivity growth index in germany 6 and poland 5 are mainly dictated by the technical change component in contrast the productivity growth index in the netherlands 3 is influenced by allocative efficiency components

estimating most productive scale size using data envelopment analysis abstract the relation between the most productive scale size mpss for paparticular input and output mixes and returns to scale for multiple inputs multiple outputs situations is explicitly developed this relation is then employed to extend the applications of data envelopment analysis dea introduced by charnes cooper and rhodes ccr to the estimation of most productive scale sizes for convex production possibility sets it is then shown that in addition to productive inefficiencies at the actual scale size the ccr efficiency measure also reflects any inefficiencies due to divergence from the most productive scale size two illustrations of the practical applications of these results to the estimation of most productive scale sizes and returns to scale for hospitals and stem electric generation plants are also provided emphasize the advantage of this method in examining specific segments of the efficient production surface

productivity change technical progress and relative efficiency change in the public accounting industry we present evidence on components of productivity change in the public accounting industry toward the end of the 20th century using revenue and human resource data from 64 of the 100 largest public accounting firms in the united states for the 1995 1999 period we analyze productivity change technical progress and relative efficiency change over time the average public accounting firm experienced a productivity growth of 9 5 between 1995 and 1999 we find support for the hypothesis that technical progress rather than an improvement in relative efficiency was the reason for this productivity growth firms that were early movers into management advisory services mas and those that emphasized growth in mas over growth in the traditional audit and tax services enjoyed significantly higher productivity growth than their peers these firms also contributed significantly more to the industry s technical progress

eco efficiency of the western taiwan straits economic zone an evaluation based on a novel eco efficiency model and empirical analysis of influencing factors abstract obtaining the most economic benefits while using the least resources and causing the least environmental damage is an urgent and key problem in achieving sustainable development the concept of eco efficiency provides a comprehensive perspective for observing and solving this problem this paper proposes an extended data envelopment analysis model named the win us sbm as a comprehensive eco efficiency evaluation method that can accommodate undesirable outputs all the identification problems of decision making units dmus possible slacks of variables and the problems of an insufficient number of available dmus and intertemporal comparability china s western taiwan straits economic zone wts economic zone is an important regional economic growth center by applying win us sbm and arcgis software we investigated data on the temporal and spatial evolution characteristics of eco efficiency in the wts economic zone for the years 2009 2016 later the global malmquist luenberger index was used to decompose the sources of growth in eco efficiency finally the main driving factors of eco efficiency were explored through a tobit regression analysis the empirical results show that 1 the overall eco efficiency of the wts economic zone had greatly improved increasing by 11 46 annually and the cumulative growth rate of eco efficiency was 110 84 from 2009 to 2016 2 the eastern area had the highest average eco efficiency followed by the western area and the middle area in that order also the growth rate of the middle area ranked first 16 68 whereas the eastern area had the slowest growth in eco efficiency 7 22 3 on the whole the growth of eco efficiency was driven mainly by technological progress and was restricted by the decrease in management level which implies that policy makers should focus on improving management and technical levels 4 high levels of economic development population density market openness and industrial structure had positive effects on the eco efficiency of the wts economic zone whereas energy intensity and expenditure on science and technology had negative impacts

radial and non radial decompositions of profit change with an application to indian banking abstract grifell tatje and lovell grifell tatje e lovell c a k 1999 profits and productivity management science 45 1177 1193 made significant contributions to the literature on the extended radial dea framework by decomposing profit change into six mutually exclusive components their approach however poses two basic problems first the radial estimates on these components might give conflicting signals about the direction of profit change after the full radial efficiencies are achieved when slacks are present second evaluations of these components using base period prices as weights can be potentially misleading to address these concerns we first introduce non radial dea models and then provide a few strong theoretical arguments in favor of using as weights either current period prices or an average price covering both periods to value the contributions of each of these components the indian banking sector is taken as a case study to illustrate the radial and non radial decompositions of profit change so as to empirically examine the role of competition on profit change and its drivers our broad empirical results are as follows first radial and non radial models yield diametrically opposite results on the contributions of various components second the increasing efficiency change trends in all ownership groups after 2002 indicate that the government reform process instituted on the banking industry has had a favorable effect on the performance of the indian banking sector third despite the fact that nationalized banks are the oldest banks their output and resource allocation behaviors do not reflect their learning experience

public capital and total factor productivity new evidence from the italian regions 1970 98 destefanis s and sena v 2005 public capital and total factor productivity new evidence from the italian regions 1970 98 regional studies 39 603 618 this paper analyses the relationship between industrial total factor productivity and public capital across the 20 italian administrative regions it adds upon the existing literature in a number of ways it analyses a longer period 1970 98 it allows for the role of human capital accumulation it tests for the existence of a long run relationship between total factor productivity and public capital through previously suggested panel techniques and for weak exogeneity of public capital and it assesses the significance of public capital within a non parametric set up based on the free disposal hull the results confirm that public capital has a significant impact on the evolution of total factor productivity particularly in the southern regions this impact is mainly ascribed to the core infrastructures road and airports harbours railroads w

rank dynamics and club convergence of sustainable development for countries around the world abstract assessment of country level sustainable development is a critical research topic entrenched in the global battle against climate change this study employs the frontier approach combined with convergence analysis to assess the sustainable development for a set of 121 countries over 1990 2014 focusing on analyzing the countries rank dynamics and convergence behavior the levels of the countries sustainable development are captured by data envelopment analysis a nonparametric frontier approach that can jointly assess a country s economic and environmental performance reflecting the divergent views on the importance of economic and environmental objectives in the pursuit of sustainability the proposed approach generates the countries sustainability scores by prioritizing either economic or environmental criterion this study finds that developed countries have significantly outperformed developing countries if environmental criterion takes precedence over economic criterion in performance assessment moreover regardless of the model employed there is strong evidence of club convergence i e convergence in subgroups of countries to different steady states rather than convergence in full sample we analyze the pattern of convergence paths and discuss policy implications obtained from our empirical findings

the growth of multinational firms in the great recession abstract using a large firm level dataset this paper studies multinational firms performance during the great recession foreign multinationals grew faster than local firms outside of the crisis but slower during the crisis industry and size differences between domestic and foreign owned firms account for much of this slowdown however multinationals from different countries performed differently during the crisis the paper then assesses the role of multinationals in the global recession using a quantitative model had multinationals relative performance remained unchanged during the crisis the median country s aggregate growth would have been 0 12 higher with a range of 0 13 to 0 5 across countries

decomposition of the fisher ideal index of productivity a non parametric dual analysis of us airlines data in this paper we offer a non parametric method of decomposing the fisher ideal index of productivity into individual factors measuring i technical efficiency change ii allocative efficiency change iii shift in the cost function iv scale economies due to output change and v an adjustment factor reflecting change in the output attributes cross section data from the us airline industry for the years i 983 and i 984 are utilised in an empirical application illustrating this method the rate of multifactor productivity growth mfpg over time in the single output multiple input case can be measured by the difference in the rates of growth in the quantity of output and the divisia index of input quantity when no technical inefficiency exists this rate of mfpg can be decomposed into two additive components i the rate of technical change measuring the rate of change in the volume of output holding the input bundle unchanged and ii a returns to scale effect showing change in productivity with changes in the input quantities without technical change when technical efficiency varies over time a part of the measured rate of mfpg would be due to efficiency

assessing productivity changes in uk hospitals reflecting technology and input prices in this study malmquist productivity indexes are used to evaluate the performance of acute hospitals in the uk over the period after the introduction of the internal market in the national health service in 1991 the indexes are computed using nonparametric programming known as data envelopment analysis and they are decomposed into multiple component measures to give insights into the trends in hospital performance overall it is found that productivity regressed in the year after the reforms but progressed thereafter so that overall there was a net progress both as far as the inputs and costs are concerned productivity progress is mainly due to overall efficiency progress which in turn is mostly attributed to allocative efficiency improvements technical change resulted in a small reduction in the amount of inputs used but also at higher production costs because of a worsening in the match between input mixes and relative input prices however it is suggested that the gains in productivity are not

regulatory reforms and productivity an empirical analysis of the japanese electricity industry the japanese electricity industry has experienced regulatory reforms since the mid 1990s this article measures productivity in japan s steam power generation sector and examines the effect of reforms on the productivity of this industry over the period 1978 2003 we estimate the luenberger productivity indicator which is a generalization of the commonly used malmquist productivity index using a data envelopment analysis approach factors associated with productivity change are investigated through dynamic generalized method of moments gmm estimation of panel data our empirical analysis shows that the regulatory reforms have contributed to productivity growth in the steam power generation sector in japan

analyzing components of productivity growth using the bennet lowe indicator an application to welsh sheep farms this article introduces the bennet lowe total factor productivity tfp indicator the proposed measure is difference based additively complete and transitive we also develop a general nonparametric framework to exhaustively decompose all bennet type tfp indicators including the one introduced here into technical change technical efficiency change scale efficiency change and mix efficiency change this decomposition provides a powerful tool for policy makers to guide financial decisions on research and development extension subsidies and price support the empirical application focuses on the welsh sheep sector for the years 2001 2014 the results show that in this 14 year period welsh sheep farms increased their tfp by 30 28 on average 2 33 p a however the exhaustive decomposition shows that tfp growth is not distributed equally across all farms with an increasing divergence between front runners and laggards the negative values of scale efficiency change and mix efficiency change cast doubt on the current subsidy policies

convergence and productive efficiency in fourteen oecd countries a non parametric frontier approach abstract this paper explores the use of a non parametric frontier approach to analyse multi factor productivity across time and countries we argue that conventional measures of total factor productivity involve some restrictive assumptions that might bias the results a non parametric approach avoids these assumptions the model uses linear programming techniques to examine the productivity catching up in 14 oecd countries over the 1970 1990 period under the assumption of variable returns to scale we find evidence of convergence even if at quite different speeds for total industry for manufacturing and for services

productivity growth and inter sector spill over in dutch horticulture 1976 1995 this article calculates nonparametric measures of total factor productivity growth on dutch horticultural firms in the period 1976 1995 individual components of total factor productivity growth i e efficiency change and technical change are regressed on socioeconomic factors reflecting the effects of the world oil crises household and demographic characteristics location and investment in physical capital also the article investigates the presence of inter sector spill overs between groups of firms with different specializations in dutch horticulture

total factor productivity growth in agriculture a malmquist index analysis of 93 countries 1980 2000 in this paper we examine levels and trends in agricultural output and productivity in 93 developed and developing countries that account for a major portion of the world population and agricultural output we make use of data drawn from the food and agriculture organization of the united nations and our study covers the period 1980 2000 due to the non availability of reliable input price data the study uses data envelopment analysis dea to derive malmquist productivity indexes the study examines trends in agricultural productivity over the period issues of catch up and convergence or in some cases possible divergence in productivity in agriculture are examined within a global framework the paper also derives the shadow prices and value shares that are implicit in the dea based malmquist productivity indices and examines the plausibility of their levels and trends over the study period

privatization of nippon telegraph and telephone was it a good policy decision nippon telegraph and telephone ntt corporation was privatized in 1985 under the economic assertion that a public enterprise is less efficient and less profitable than a private enterprise this assertion is referred to as the property right theory in economics and it is used as a theoretical rationale for privatizing publicly owned organizations this article empirically examines the economic assertion by comparing ntt s performance before and after its privatization data envelopment analysis dea is used as the research tool in this study which confirmed the economic assertion in terms of production based efficiency measures but it cannot find any major difference in its cost reducing corporate efforts thus this study presents serious management problems occurring within the ntt s partial privatization the partial privatization is now prevailing in the telecommunications industry all over the world this article also discusses the japanese business environment which makes ntt managerially ineffective under its public private joint ownership

modelling multivariate international tourism demand and volatility international tourism demand which is typically measured as tourist arrivals to australia has experienced dramatic fluctuations in recent years due to changes in the economic financial and political environment however variations in tourism demand specifically the conditional variance or volatility have not previously been investigated in the tourism literature an analysis of such volatility is essential for investigating the effects of shocks in tourism demand models this paper models the conditional mean and conditional variance of the logarithm of the monthly tourist arrival rate from the four leading tourism source countries to australia namely japan new zealand uk and usa using three multivariate static or constant conditional correlation ccc volatility models specifically the symmetric ccc mgarch model of rev econ stat 72 1990 498 symmetric vector arma garch model of econ theory 19 2003 278 and asymmetric vector arma agarch model of australasian meeting of the econometric society brisbane australia 2002 monthly data from july 1975 to 2000 are used in the empirical analysis the results suggest the presence of interdependent effects in the conditional variances between the four leading countries and asymmetric effects of shocks in two of the four countries this is an important result as it emphasizes interdependencies between major tourism source countries as well as the asymmetric effects of positive and negative shocks in tourism demand the estimated ccc matrices for the three models are not substantially different from each other which confirms the robustness of the estimates to alternative specifications of the multivariate conditional variance

non parametric efficiency progress and regress measures for panel data methodological aspects this purely methodological paper deals with the role of time in non parametric efficiency analysis using both fdh and dea technologies it first shows how each observation in a panel can be characterized in efficiency terms vis a vis three different kinds of frontiers i contemporaneous ii sequential and iii intertemporal these are then compared with window analysis next frontier shifts outward and inward interpreted as progress or regress are considered for the two kinds of technologies and computational methods are described in detail for evaluating such shifts in either case these are also contrasted with what is measured by the malmquist productivity index finally an alternative way of identifying progress and regress independent of the frontier notion and referring instead to some benchmark notion is extended here to panel data

does renewable and or non renewable energy consumption matter for total factor productivity tfp growth evidence from the brics abstract studies proved that output growth is mainly associated with the total factor productivity tfp growth and variables that affect the tfp have an important explanatory power on output in this regards the aim of this study is to examine the causal relationship between different types of energy consumption and tfp growth in the brics from 1992 to 2012 a panel bootstrap granger causality test by konya 2006 68 was employed to investigate the direction of possible connection between energy consumption and tfp growth results show that no remarkable causal link exists between renewable energy consumption and tfp growth in the brics however in the case of non renewables energy consumption creates a positive externality that contributes economic development in brazil and south africa by the growth of tfp as well as energy use itself in this respect policies that promote coal and non renewable electricity consumption in south africa and natural gas consumption in brazil may be beneficial for their economic development

a seasonal analysis of asian tourist arrivals to australia rapid economic growth in south east and east asia has seen a surge in tourist arrivals from this region to australia in the 1990s prior to the currency crisis in late 1997 the purpose of the paper is to use autoregressive integrated moving average arima models to explain the nonstationary seasonally unadjusted quarterly tourist arrivals from hong kong and singapore to australia from 1975 1 to 1996 4 as the tourist arrivals series display strong seasonal patterns deterministic and stochastic seasonality are examined as possible explanations for variations in the international tourist arrivals series the hylleberg et al journal of econometrics 99 pp 215 38 1990 test for seasonal unit roots is used to examine stochastic seasonality in the various series

regional r d efficiency in korea from static and dynamic perspectives han u asmild m and kunc m regional r d efficiency in korea from static and dynamic perspectives regional studies research and development r d efficiency has gained great attention in regional innovation research this study examines the r d efficiency patterns of 15 korean regions for 2005 09 it employs data envelopment analysis to identify the regions r d performances relative to the best practices from the static perspective and the malmquist productivity index to evaluate their changes in performance within a given timeframe providing a dynamic perspective the results classify the korean regions into deteriorating lagging and improving groups and indicate that most regions suffer from declining r d productivity over time because of their inability to catch up with the best practices

do crises impact capital structure a study of french micro enterprises this article analyses the impact of the global crisis on the relationship between firm related factors size tangible and intangible assets growth and profitability and the capital structure of french micro enterprises a panel of 4945 firms are studied comparatively over two periods before 2003 2007 and during 2008 2013 the global crisis during the global crisis micro enterprises survive by relying mostly on internal sources of financing external leverage is reduced as the increased information asymmetry and default risk raise the cost of debt when necessary micro enterprises sell the underused or unnecessary tangible assets as they focus on their main competence and develop their intangible assets human skills advertising networking brand name and awareness in addition we show that the pecking order is the most relevant theory for predicting the financial decisions and situation of french mes these results provide interesting insights into the financial strategy of french micro enterprises facilitating understanding and action at academic and policy levels

investigating causality in international air freight and business travel the case of australia few studies have examined the link between air cargo and business travel despite there being a generally accepted understanding that these two variables are inextricably related to each other thi

airfreight transport and economic development an examination of causality the paper examines the potential role that airfreight transport in the us can play in stimulating local and regional economic development the analysis examines trends in employment and income for metropolitan statistical areas that make use of airfreight services the focus is on causality and not on simple correlation and uses econometric analysis rather than simpler economic multiplier approaches granger causality testing based on panel data covering 35 airport and 32 metropolitan statistical areas in the us from 1990 to 2009 indicates that airfreight transport was a positive driver for local economic development the conclusions focus on the strengths but also the weaknesses of the methodology for assessing causality

productivity technology and economic growth what is the relationship the relationship between productivity technology and economic growth has been debated extensively in the endogenous growth growth accounting new economy and policy literature this paper briefly surveys the literature on total factor productivity tfp calculations the various techniques and problems associated with it we argue that tfp is not a measure of technological change and only under ideal conditions does it measure the supernormal profits associated with technological change the critical driving force of economic growth is not the super normal profits that technological change generates but rather the continuous creation of opportunities for further technological development six illustrations of when tfp fails to correctly measure these super normal profits are provided a version carlaw and lipsey s 2003b model of endogenous general purpose technology driven growth is then utilized to make some progress toward answering prescott s 1998 call for a theory of tfp the model is used to simulate artificial data and connect theoretical assumptions of returns to scale and resource costs to the conditions under which tfp miss measures the actual growth of technological knowledge

modelling technical efficiency in cross sectionally dependent stochastic frontier panels summary this paper proposes a unified framework for accommodating both time and cross sectional dependence in modelling technical efficiency in stochastic frontier models by combining the exogenously driven factor based approach and an endogenous threshold efficiency regime selection mechanism this approach is able to deal with both weak and strong cross sectional dependence in a flexible manner using a dataset of 26 oecd countries over 1970 2010 we provide satisfactory estimation results for the production technology parameters and the associated efficiency ranking of individual countries we find a positive spillover effect on efficiency supporting the hypothesis that knowledge spillover is more likely to be induced by technological proximity furthermore our approach enables us to identify efficiency clubs endogenously

total factor productivity measurement and human capital in oecd countries abstract this paper analyses the total factor productivity tfp evolution in oecd countries by breaking down productivity gains into technical change and efficiency change to avoid biases malmquist indices of productivity including human capital are estimated the results indicate that in fact the inclusion of human capital has a significant effect on the accurate measurement of tfp

is there a slowdown in agricultural productivity growth in south america this article estimates agricultural productivity growth in 10 south american countries in 1969 2009 with the objective of investigating if the slowdown being measured in other countries is present in the region results show that productivity growth accounts for half of the three fold increase in agricultural output during this period and that performance is sensitive to r d investments in the sector the slowdown found for the 1990s to 2000s in the u s and some european economies does not seem to be present yet in south america the region s total factor productivity tfp growth rate increased steadily from 1 07 during the 1970s to 2 29 during the 2000s given lags in adoption and the adaptive nature of innovations in these economies we have yet to see the potential effects in south american agriculture of decreases in r d in advanced economies

technical efficiency and productivity analysis in indonesian provincial economies this article estimates inefficiency and total factor productivity tfp across indonesian provinces from 1993 to 2000 indonesia is a large emerging market economy but provinces within the country due to the island structure of the country are more distinct from one another compared to other countries we use a stochastic frontier methodology to estimate inefficiency and tfp we find that tfp fell by an average rate of 7 5 across provinces due to the decrease in technical efficiency in fact the majority of output growth within indonesia is explained by the accumulation of inputs in this sense economic growth within indonesia does not appear to be sustainable without reversing these trends

the effect of incentive reforms upon productivity evidence from the vietnamese rice industry in this study we use region level panel data on rice production in vietnam to investigate total factor productivity tfp growth in the period since reunification in 1975 two significant reforms were introduced during this period one in 1981 allowing farmers to keep part of their produce and another in 1987 providing improved land tenure we measure tfp growth using two modified forms of the standard malmquist data envelopment analysis dea method which we have named the three year window tyw and the full cumulative fc methods we have developed these methods to deal with degrees of freedom limitations our empirical results indicate strong average tfp growth of between 3 3 and 3 5 per cent per annum with the fastest growth observed in the period following the first reform our results support the assertion that incentive related issues have played a large role in the decline and subsequent resurgence of vietnamese agriculture

economic efficiency and frontier techniques abstract most of the literature related to the measurement of economic efficiency has based its analysis either on parametric or on non parametric frontier methods the choice of estimation method has been an issue of debate with some researchers preferring the parametric and others the non parametric approach the aim of this paper is to provide a critical and detailed review of both core frontier methods in our opinion no approach is strictly preferable to any other moreover a careful consideration of their main advantages and disadvantages of the data set utilized and of the intrinsic characteristics of the framework under analysis will help us in the correct implementation of these techniques recent developments in frontier techniques and economic efficiency measurement such as bayesian techniques bootstrapping duality theory and the analysis of sampling asymptotic properties are also considered in this paper

malmquist productivity indexes and fisher ideal indexes comment fare and grosskopf i992 henceforth abbreviated as fg showed that under some conditions the productivity index defined as the geometric mean of two input based malmquist productivity indexes is equal to the quotient of the fisher input quantity index and the fisher output quantity index both fisher indices can be computed from observed prices and quantities these conditions appear to be so strong that they will almost certainly never be fulfilled in practice this is shown by a careful inspection of fg s proof however under slightly milder but more plausible conditions it can be shown that the quotient of the fisher input index and the fisher output index is a reasonable approximation of the productivity index consider a firm at two time periods t o i with different technologies which are modelled by the input correspondences lt y x x can produce y x c rn yce rm it is assumed that the sets lt y are closed and convex and that inputs are strongly disposable the vectors x yt wt pt t o i denote observed inputs observed outputs observed input prices and observed output prices respectively the productivity index is defined as

is inflation in developing countries driven by low productivity or monetary growth abstract this paper investigates whether inflation in developing countries is driven by retrogression in productivity or by monetary expansion our empirical methodology relies on growth accounting non parametric and generalized method of moment techniques results indicate that inflation is primarily driven by monetary growth

a generalized distance function and the analysis of production efficiency a generalization of shephard s distance functions is proposed extending the usefulness of distance functions in economic analysis applications to efficiency measurements and productivity analysis are presented new indexes of productivity and technical allocative and scale efficiency are proposed and analyzed interpretation of these indexes in terms of ray average cost ray average revenue and cost to revenue ratio is discussed

estimating and decomposing productivity growth of the electricity generation industry in malaysia a stochastic frontier analysis this study examines the total factor productivity tfp growth of the malaysian electricity generation industry over the 1998 to 2005 period the stochastic frontier analysis sfa approach is used to measure tfp change and decompose tfp growth into efficiency change and technical progress we find that it achieved average annual tfp growth of 2 34 with technical change contributing the most to the tfp growth over the eight year period we hence hypothesise that the new power plants with their newer capital embodied technologies commencing during the sample period are likely to be the main reason for this strong technical change in addition it is also noted that this estimate for the malaysian electricity generation industry is larger than the estimate obtained for the electricity sector as a whole where we obtain 1 34 per year for a comparable period

environmental productivity and kuznets curve in india abstract as a result of india s extremely rapid economic growth the scale and seriousness of environmental problems are no longer in doubt whether pollution abatement technologies are utilized more efficiently is crucial in the analysis of environmental management because it influences the cost of alternative production and pollution abatement technologies in this study we use state level industry data of sulfur dioxide nitrogen dioxide and suspended particular matter over the period 1991 2003 employing recently developed productivity measurement technique we show that overall environmental productivities decrease over time in india furthermore we analyze the determinants of environmental productivities and find environmental kuznets curve type relationship existences between environmental productivity and income panel analysis results show that the scale effect dominates over the technique effect therefore a combined effect of income on environmental productivity is negative

eco efficiency change in power plants using a slacks based measure for the meta frontier malmquist luenberger productivity index abstract malmquist luenberger index is a popular index deployed for evaluating eco efficiency and productivity change over a certain period when both desirable and undesirable factors are jointly produced in some production processes however conventional data envelopment analysis dea models used for computing this index are unable to distinguish the various technologies employed by the decision making units when heterogeneity exists in the technology the meta frontier malmquist luenberger approach is adopted to evaluate eco efficiency and productivity change over a period when undesirable outputs are incorporated in the analysis of efficiency in this paper a new slacks based dea measure is developed and used to compute the meta frontier malmquist luenberger productivity index this approach is then deployed to evaluate 48 iranian thermal power plants productivity change in three different categories steam gas and combined cycle over an eight year period of restructuring in the power industry this technique enables the calculation of eco efficiency change of thermal power plants operating under different technologies as well as the technology gap ratios and measures the extent to which the efficiency frontiers of individual categories of power plants deviate from the meta frontier the results reveal that the last years of the restructuring period saw a greater rate of productivity growth compared to the initial years and evidence of significant eco efficiency improvements over the period in all the three types of the thermal power plants finally it is expected that the findings in this study aid policy makers and power industry regulators in developing sustainable energy policies towards environmental protection and planning power plant operations

the contribution of large and small employers to job creation in times of high and low unemployment we document a negative correlation at business cycle frequencies between the net job creation rate of large employers and the level of aggregate unemployment that is much stronger than for small employers the differential growth rate of employment between initially large and small employers has an unconditional correlation of 0 5 with the unemployment rate and varies by about 5 percent over the business cycle we exploit several datasets from the united states denmark and france both repeated cross sections and job flows with employer longitudinal information spanning the last four decades and several business cycles we discuss implications for theories of factor demand jel d22 e23 e32 j23 l25

bridging the gap between partial and total factor productivity measures using directional distance functions technical dependencies as well as data constraints limit our ability to allocate inputs across sectors and hence our ability to measure sectoral productivity we adapt a directional measure of efficiency to the measurement of sector specific productivity that does not require allocating all inputs across sectors applied to the agricultural sector of a group of countries the results show important differences in livestock and crops productivity growth commonly used partial factor productivity measures for livestock and crops tend to overestimate productivity growth in most developing countries while underestimating it in european countries

productivity growth technical progress and efficiency change in industrialized countries this paper analyzes productivity growth in 17 oecd countries over the period 1979 1988 a nonparametric programming method activity analysis is used to compute malmquist productivity indexes these are decomposed into two component measures namely technical change and efficiency change we find that u s productivity growth is slightly higher than average all of which is due to technical change japan s productivity growth is the highest in the sample with almost half due to efficiency change jel c43 d24 in this paper we apply recently developed

sustainability performance for china s transportation industry under the environmental regulation abstract traffic and transportation industry is a carbon intensive industry in china the implementation of environmental regulation is of important practical significance nowadays literatures lack of quantitative analysis on transport industry s sustainability performance under the environmental regulation by using a directional distance function this paper aims to investigate the effect of environmental regulation on this industry furthermore this paper measures its green total factor productivity under the general intensity of regulation and strict regulation from 2000 to 2010 results show that the economic growth mode in transportation industry is still the extensive mode while there is great potential for the improvement of energy saving and production

a non parametric analysis of productivity the case of u s and japanese manufacturing a nonparametric analysis of technology technical change and productivity is presented in the context of cost minimizing behavior a number of nonparametric tests concerning the existence and nature of technical change are applied to u s and japanese manufacturing data nonparametric measures of technical change are presented copyright 1990 by american economic association

efficiency and technical progress sources of convergence in the spanish regions the paper analyses the contribution of efficiency as a mechanism of labour productivity convergence taking as the unit of analysis the spanish regions in the period 1964 1993 using the stochastic frontier approach a translogarithmic production function is estimated for the different sectors of the spanish regional economy demonstrating on this basis the existence of substantial differences in efficiency between sectors as well as between regions with regard to convergence the results obtained indicate that at aggregate level the convergence observed in labour productivity is explained by the faster growth of the capital labour ratio of the initially poorer regions and the contribution of technical change and the efficiency hence by the convergence of tfp however the information by sectors shows different results thus on the one hand the importance of the convergence in production per employee is seen in all sectors except agriculture and on the other it is observed that technical change is a

sources of productivity growth using the fare primont decomposition an empirical application to the irish beef sector several competing methodologies for tfp estimation have been developed in the past decades a popular approach in the literature is index number computation the most widely implemented tfp indices

total factor carbon emission performance of fossil fuel power plants in china a metafrontier non radial malmquist index analysis article i nfo this paper proposes the metafrontier non radial malmquist co2 emission performance index mnmcpi for measuring dynamic changes in total factor co2 emission performance over time the mnmcpi method allows for the incorporation of group heterogeneity and non radial slack into the previously introduced malmquist co2 emission performance index mcpi we derive the mnmcpi by solving several non radial data envelop ment analysis dea models we decompose the mnmcpi into an efficiency change ec index a best practice gap change bpc index and a technology gap change tgc index and based on the proposed indices we examine the dynamic changes in co2 emission performance and its decomposition of fossil fuel power plants in china for the 2005 2010 period the empirical results show a 0 38 increase in total factor co2 emission performance as a whole and a u shaped mnmcpi curve for the sample period because companies owned by the central government lack innovation and technological leadership the results suggest a missing link in the role of the central government in promoting co2 emission performance

performance and efficiency in colombia s power distribution system effects of the 1994 reform we assess evolution in performance efficiency and productivity of colombia s power distribution utilities before and after the 1994 regulatory reform that introduced electricity market activities for the power sector in 12 distribution companies from 1985 to 2001 performance is evaluated contrasting changes in mean and median by wilcoxon rank sum and pearson tests on financial and other performance indicators technical efficiency is measured by means of data envelopment analysis dea the nature of the dataset allows the estimation of malmquist productivity index and its evolution in time results show a recovery after the reform in the main performance indicators of profitability partial input productivity and output plant efficiency and productivity increased after the reform mainly in the largest utilities used as benchmarks in the dea efficiency scores measures meanwhile the less efficient power distribution companies did not improved after the reform and were not able to undertake plant restructuring to catch up in plant efficiency with respect to the pareto efficient input allocations econometric results on dea efficiency scores suggest a positive effect of policy reform

the evolution and main determinants of productivity in brazilian electricity distribution 1998 2005 an empirical analysis abstract this paper estimates changes in the productivity of the brazilian electricity distribution sector using data envelopment analysis dea on a panel of 18 firms from 1998 to 2005 the study decomposes the productivity change of these distribution firms in terms of technical efficiency scale efficiency and technical progress this exercise aims to help the understanding of the main determinants of the evolution of productivity focusing its relationship with the restructuring process implemented in the 1990s tfp index records a yearly positive growth rate of 1 3 in the whole period under analysis for all firms technical change was the main component behind this evolution with an average growth of 2 1 per year while technical efficiency presented a yearly negative performance of 0 8 the results prove that in general terms the incentives generated in the reform process do not seem to have led the firms to behave in a more efficient manner

growth and convergence of the oecd countries a multi sector production frontier approach abstract kumar and russell 2002 henderson and russell 2005 and badunenko henderson and russell 2013 have proposed a production frontier methodology to analyze the economic growth and the convergence of growth rates across countries they see two main advantages to this methodology 1 it reconstructs the world production frontier without relying on any particular typically unverifiable assumptions on any aspects of the growth process and 2 it allows to decompose labor productivity growth into several parts in this paper i extend the previous approach by considering a multi sector setting this setting allows to propose a more realistic and complete country level analysis while keeping the same advantages as with the previous methodology i also tackle the criticism of less reliable data at the sector level than at the country level by showing how the multi sector approach can easily be adapted i apply it to the oecd countries from 1995 to 2008 the results confirm the non neutrality of technological change i also find that capital accumulation plays the biggest role in the increase of output labor productivity while technological change and human capital accumulation also play an important role but it is twice as small as capital accumulation interestingly these results suggest the emergence of two groups eastern and central european countries and the eu15 and korea the two groups seem to diverge over time