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Efficiency Analysis with Panel Data: A Study of Portuguese Dairy Farms


  • Hallam, David
  • Machado, Fernando


The technical efficiency of Portugese dairy farms is measured using frontier production functions estimated from panel data. Alternative estimators are compared and evaluated. The results suggest an average efficiency of 60 to 70 percent. The relationship between efficiency and farm characteristics is explored. Efficiency appears to be positively correlated with farm size but independent of degree of specialisation. The implications of the results for alternative development strategies are considered. Copyright 1996 by Oxford University Press.

Suggested Citation

  • Hallam, David & Machado, Fernando, 1996. "Efficiency Analysis with Panel Data: A Study of Portuguese Dairy Farms," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 23(1), pages 79-93.
  • Handle: RePEc:oup:erevae:v:23:y:1996:i:1:p:79-93

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    References listed on IDEAS

    1. R. Edwards & A. Parikh, 1976. "A Stochastic Policy Simulation of the World Coffee Economy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(2), pages 152-160.
    2. Kawai, Masahiro, 1983. "Price Volatility of Storable Commodities under Rational Expectations in Spot and Futures Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(2), pages 435-459, June.
    3. Bray, Margaret M, 1981. "Futures Trading, Rational Expectations, and the Efficient Markets Hypothesis," Econometrica, Econometric Society, vol. 49(3), pages 575-596, May.
    4. Turnovsky, Stephen J, 1983. "The Determination of Spot and Futures Prices with Storable Commodities," Econometrica, Econometric Society, vol. 51(5), pages 1363-1387, September.
    5. Danthine, Jean-Pierre, 1978. "Information, futures prices, and stabilizing speculation," Journal of Economic Theory, Elsevier, vol. 17(1), pages 79-98, February.
    6. Alan H. Gelb, 1977. "Optimal Control and Stabilization Policy: An Application to the Coffee Economy," Review of Economic Studies, Oxford University Press, vol. 44(1), pages 95-109.
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