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La profitabilité des secteurs de l’économie sénégalaise
[Profitability of economic sectors in Senegal]

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Author Info

  • Diagne, Youssoupha S
  • Sène, Serigne Moustapha

Abstract

This paper focuses on performance measures based on a panel of 22 sectors of the Senegalese economy. A particular emphasis is made on the profitability which is the indicator looked at by both the government to identify sectors that need help, investors to know which sector is attractive and also banks who need to appreciate the level of risk of a sector. Markov Chains test was conducted to check the persistence of profitability among sectors. The findings revealed the absence of convergence of sectors. Technical inefficiency has been therefore included to explain the profitability discrepancies found between sectors measured by the fixed effects. The profit loss due to inefficiency is also computed for each sector.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 54921.

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Date of creation: 10 Sep 2009
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Handle: RePEc:pra:mprapa:54921

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Related research

Keywords: Profitability; Persistence; Markov chains; Technical inefficiency; Panel;

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References

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  1. Jack Glen & Kevin Lee & Ajit Singh, 2002. "Corporate profitability and the dynamics of competition in emerging markets: a time series analysis," ESRC Centre for Business Research - Working Papers, ESRC Centre for Business Research wp248, ESRC Centre for Business Research.
  2. Cubbin, John & Geroski, Paul A, 1987. "The Convergence of Profits in the Long Run: Inter-firm and Inter-industry Comparisons," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 427-42, June.
  3. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
  4. Kumbhakar, Subal C., 1987. "The specification of technical and allocative inefficiency in stochastic production and profit frontiers," Journal of Econometrics, Elsevier, vol. 34(3), pages 335-348, March.
  5. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
  6. Andreas Stephan & Andriy Tsapin, 2008. "Persistence and Determinants of Firm Profit in Emerging Markets," Discussion Papers of DIW Berlin 848, DIW Berlin, German Institute for Economic Research.
  7. Subal C. Kumbhakar, 2001. "Estimation of Profit Functions When Profit Is Not Maximum," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 83(1), pages 1-19.
  8. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-32.
  9. Adelina Gschwandtner, 2005. "Profit persistence in the 'very' long run: evidence from survivors and exiters," Applied Economics, Taylor & Francis Journals, vol. 37(7), pages 793-806.
  10. Marcelle Chauvet & James D. Hamilton, 2005. "Dating Business Cycle Turning Points," NBER Working Papers 11422, National Bureau of Economic Research, Inc.
  11. B. Burcin Yurtoglu, 2004. "Persistence of firm-level profitability in Turkey," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 615-625.
  12. Subal Kumbhakar, 2002. "Productivity measurement: a profit function approach," Applied Economics Letters, Taylor & Francis Journals, vol. 9(5), pages 331-334.
  13. Mueller, Dennis C, 1977. "The Persistence of Profits above the Norm," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 44(176), pages 369-80, November.
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