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Productivity growth in electric energy retail in Colombia. A bootstrapped malmquist indices approach

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Author Info

  • Rodrigo Taborda

    ()

  • Julieth Santamaría

    ()

Abstract

This paper offers a productivity growth estimate for electric energy commercialization firms in Colombia, using a non-parametric Malmquist bootstrap methodology. The estimation and methodology serve two main purposes. First, in Colombia commercialization firms are subject to a price-cap regulation scheme, a non-common arrangement in the international experience for this part of the industry. Therefore the paper’s result suggest an estimate of the productivity factor to be used by the regulator, not only in Colombia but in other countries where commercialization is a growing part of the industry (renewable energy, for instance). Second, because of poor data collection from regulators and firms themselves, regulation based on a single estimation of productivity seems inappropriate and error-prone. The nonparametric Malmquist bootstrap estimation allows an assessment of the result in contrast to a single one estimation. This would open an opportunity for the regulator to adopt a narrower and more accurate productivity estimation or override an implausible result and impose a productivity factor in the price-cap to foster the development of the industry.

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Bibliographic Info

Paper provided by UNIVERSIDAD DEL ROSARIO in its series DOCUMENTOS DE TRABAJO with number 009152.

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Length: 24
Date of creation: 29 Nov 2011
Date of revision:
Handle: RePEc:col:000092:009152

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Related research

Keywords: DEA; Malmquist; Productivity growth; Bootstrap; Electricity commercialization; Colombia;

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  1. SIMAR, Léopold & WILSON, Paul, 1995. "Sensitivity Analysis to Efficiency Scores : How to Bootstrap in Nonparametric Frontier Models," CORE Discussion Papers 1995043, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Simar, L. & Wilson, P.W., 1998. "A General Methodology for Bootstrapping in Nonparametric Frontier Models," Papers 9811, Catholique de Louvain - Institut de statistique.
  3. Jamasb, T. & Pollitt, M., 2001. "Benchmarking and Regulation of Electricity Transmission and Distribution Utilities: Lessons from International Experience," Cambridge Working Papers in Economics 0101, Faculty of Economics, University of Cambridge.
  4. Odeck, James, 2009. "Statistical precision of DEA and Malmquist indices: A bootstrap application to Norwegian grain producers," Omega, Elsevier, vol. 37(5), pages 1007-1017, October.
  5. Garcia, Alfredo & Arbelaez, Luis E., 2002. "Market power analysis for the Colombian electricity market," Energy Economics, Elsevier, vol. 24(3), pages 217-229, May.
  6. Pombo, Carlos & Taborda, Rodrigo, 2006. "Performance and efficiency in Colombia's power distribution system: Effects of the 1994 reform," Energy Economics, Elsevier, vol. 28(3), pages 339-369, May.
  7. Léopold Simar & Paul Wilson, 2000. "Statistical Inference in Nonparametric Frontier Models: The State of the Art," Journal of Productivity Analysis, Springer, vol. 13(1), pages 49-78, January.
  8. Laure Latruffe & Sophia Davidova & Kelvin Balcombe, 2008. "Productivity change in Polish agriculture: an illustration of a bootstrapping procedure applied to Malmquist indices," Post-Communist Economies, Taylor & Francis Journals, vol. 20(4), pages 449-460.
  9. Pombo, Carlos, 2001. "Regulatory reform in Colombia's electric utilities," The Quarterly Review of Economics and Finance, Elsevier, vol. 41(5), pages 683-711.
  10. Balcombe, Kelvin George & Davidova, Sophia & Latruffe, Laure, 2006. "The Use of Bootstrapped Malmquist Indices to Reassess Productivity Change Findings: An Application to a Sample of Polish Farms," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25793, International Association of Agricultural Economists.
  11. Emili Tortosa Ausina, 2002. "Sensitivity Analysis Of Efficiency And Malmquist Productivity Indices: An Application To Spanish Savings Banks," Working Papers. Serie EC 2002-30, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  12. Simar, Leopold & Wilson, Paul W., 1999. "Estimating and bootstrapping Malmquist indices," European Journal of Operational Research, Elsevier, vol. 115(3), pages 459-471, June.
  13. Emrouznejad, Ali & Parker, Barnett R. & Tavares, Gabriel, 2008. "Evaluation of research in efficiency and productivity: A survey and analysis of the first 30 years of scholarly literature in DEA," Socio-Economic Planning Sciences, Elsevier, vol. 42(3), pages 151-157, September.
  14. Larsen, Erik R. & Dyner, Isaac & Bedoya V., Leonardo & Franco, Carlos Jaime, 2004. "Lessons from deregulation in Colombia: successes, failures and the way ahead," Energy Policy, Elsevier, vol. 32(15), pages 1767-1780, October.
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