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Macroeconomic Reform and Technical Efficiency in Australian - Riforme macroeconomiche ed efficienza tecnica nell’industria manifatturiera australiana – un’analisi stocastica della frontiera di produzione

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  • Karunaratne, Neil Dias

    ()
    (School of Economic Studies, The University of Queensland)

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    Abstract

    The paper reports the empirical results of the validation of the Stochastic Production Frontier (SPF) Model to an unbalanced panel comprising a crosssection of 8 manufacturing industries over a time span of 26 years The results provide insights on the repercussions of the macro-economic reform policy agenda during the study period plagued by a productivity slowdown and the productivity resurgence due to the emergence of the ‘new economy’ and now the challenges to sharpen the manufacturing industries competitive edge to combat deindustrialization threats posed by globalization. The parametric SPF model facilitates the testing of hypotheses relating to the significance of firm-specific and industry-wide inefficiency effects, inequality constraints, and presence of technical change, x-efficiency or heterogeneity effects. Therefore, it is deemed to provide superior testable insights on productivity and technical inefficiency than the rival non-parametric Data Envelopment Analysis. - Questo studio esamina i risultati empirici della validazione del modello stocastico di frontiera di produzione (SPF) nei confronti di un panel di dati cross-section non bilanciato di 8 industrie manufatturiere in un intervallo di 26 anni. Tali risultati forniscono indicazioni sulle ripercussioni della riforma macro-economica dell’agenda politica durante il periodo considerato, caratterizzato da un calo e successivamente da una ripresa nella produttività dovuti all’emergenza della new economy e attualmente dalla sfida della globalizzazione. Il modello parametrico SPF facilita l’effettuazione di test sulle ipotesi concernenti gli effetti delle inefficienze. Quindi questo modello può essere ritenuto in grado di fornire indicazioni, circa la produttività e l’efficienza tecnica, superiori dal punto di vista della testabilità a quelle fornite dal modello alternativo di Data Envelopment Analysis.

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    Bibliographic Info

    Article provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.

    Volume (Year): 66 (2013)
    Issue (Month): 3 ()
    Pages: 345-369

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    Handle: RePEc:ris:ecoint:0695

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    Related research

    Keywords: Stochastic Production Frontier Models; Data Envelopment Analysis; Microeconomic Reform; Productivity; Technical Change; Technical Inefficiency; Manufacturing Industries; Australia;

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