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Estimating Allocative Efficiency And Elasticities Of Substitution In The Largescale Manufacturing Sector Of Pakistan

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  • Mahmoodul Hassan KHAN*
  • Abid A. BURKI**

Abstract

This paper considers a generalised trans log cost function, which takes care of distortions in factor markets due to the regulatory environment in Pakistan's large-scale manufacturing sector. The paper explores the nature of allocative inefficiencies and evaluates elasticities by employing pooled provincial time-series data of Sindh and Punjab from the CMI. The paper rejects the use of neo-classical assumption of perfect competition in input markets as a maintained hypothesis and argues that price and substitution elasticities produced by previous studies, without incorporating allocative inefficiencies, may be misleading.

Suggested Citation

  • Mahmoodul Hassan KHAN* & Abid A. BURKI**, 2000. "Estimating Allocative Efficiency And Elasticities Of Substitution In The Largescale Manufacturing Sector Of Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 16, pages 49-63.
    • Handle: RePEc:pje:journl:article2000iv
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    File URL: http://aerc.edu.pk/wp-content/uploads/2017/02/4th-paper-page-49-63-1.pdf
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    Cited by:

    1. Khalid, Waqar & Özdeşer, Hüseyin & Jalil, Abdul, 2021. "An empirical analysis of inter-factor and inter-fuel substitution in the energy sector of Pakistan," Renewable Energy, Elsevier, vol. 177(C), pages 953-966.

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