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External scale economies in manufacturing sector of Pakistan: a comparison of large scale manufacturing sector of Sindh and Punjab

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  • Zafar, Sohail
  • Ahmed, Vaqar

Abstract

This study investigates the external economies of scale in the manufacturing sector of Pakistan. The Return to scale is a property of the production function that indicates the relationship between proportionate change, in all inputs and resulting change in output. Returns to scale are applicable only in the long run, since all inputs are being changed. The estimated value of the coefficient of returns to scale at aggregate level is 1.017. It means that one percentage point change in all input quantities results in 1.017 percent change in output. It turns out that manufacturing sector of Pakistan is characterized by almost constant returns to scale at aggregates and disaggregate level.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17665.

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Date of creation: 04 Oct 2009
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Handle: RePEc:pra:mprapa:17665

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Keywords: Economies of Scale; Distortion; Efficiency; Pakistan;

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  1. Dilek Karaomerlioglu, 1999. "Does Microelectronics Reduce Economies of Scale? A Case Study in the Turkish Chemical Industry," Review of Industrial Organization, Springer, Springer, vol. 14(3), pages 219-238, May.
  2. Gilligan, Thomas & Smirlock, Michael & Marshall, William, 1984. "Scale and scope economies in the multi-product banking firm," Journal of Monetary Economics, Elsevier, Elsevier, vol. 13(3), pages 393-405, May.
  3. Sohail J. Malik & Mohammad Mushtaq & Hina Nazli, 1989. "An Analysis of Production Relations in the Large-scale Textile Manufacturing Sector of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, Pakistan Institute of Development Economics, vol. 28(1), pages 27-42.
  4. Noulas, Athanasios G & Ray, Subhash C & Miller, Stephen M, 1990. "Returns to Scale and Input Substitution for Large U.S. Banks," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 22(1), pages 94-108, February.
  5. Benston, George J & Hanweck, Gerald A & Humphrey, David B, 1982. "Scale Economies in Banking: A Restructuring and Reassessment," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 14(4), pages 435-56, November.
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