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Le ralentissement de la productivité des entreprises d'électricité au Texas : le rôle des marges, des rendements d'échelle et du progrès technique

Listed author(s):
  • Subal C. Kumbhakar

[fre] Le ralentissement de la productivité des entreprises d'électricité au Texas : le rôle des marges, des rendements d'échelle et du progrès technique par Subal C. Kumbhakar Cet article présente un modèle de maximisation du profit de la firme permettant de mesurer la croissance de la productivité totale des facteurs (PTF) et de la décomposer en trois éléments reliés au progrès technique, aux rendements d'échelle et à l'existence de marges sur les coûts. Le progrès technique est ensuite décomposé en un progrès technique pur, un progrès technique non neutre et un progrès technique augmentant l'échelle de production. Nous examinons le rôle de ces facteurs dans l'explication de la croissance de la PTF d'entreprises de production d'électricité dans l'État du Texas. Une caractéristique intéressante de cette étude réside dans l'utilisation de données de panel relatives à des entreprises d'électricité de l'État du Texas, observées entre 1966 et 1985, période qui inclut la période de réglementation des tarifs par les autorités publiques. L'utilisation de données de panel permet de modéliser le comportement de fixation des marges dans le temps sans avoir besoin d'imposer des contraintes a priori sur ces évolutions. Ces données permettent également de prendre en compte l'hétérogénéité des structures de coût des entreprises. Les résultats des estimations montrent que les marges et la croissance de la PTF ont sensiblement baissé durant la période de réglementation. Malgré cela, sur l'ensemble de la période étudiée, les comportements de fixation des marges par les entreprises ont largement contribué aux hausses de productivité observées. [eng] An Anatomy of the Productivity Slowdown: Markups, Returns to Scale, and Technical Change in Electric Utilities in Texas By Subal C. Kumbhakar This paper considers a profit maximizing model to measure total factor productivity (TFP) growth and decompose it into components attributed to technical change, returns to scale and markups. Technical change is further decomposed into pure, nonneutral, and scale augmenting components. The role of these factors is analyzed in accounting productivity growth of electric utilities in Texas. An interesting feature of the study is the use of panel data on individual electric utilities in Texas during 1966-1985, which covers periods before and after the introduction of statewide regulation. The availability of panel data allows us to model markup behavior over time without imposing any a priori behavior on them. The model also introduces and controls for heterogeneity in the cost structure of the utilities. Empirically we find that markups and TFP growth declined substantially during the year of statewide regulation. In spite of this declining tendancy it is found that markups were the major contributing factor in TFP growth during the entire sample period.

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Article provided by Programme National Persée in its journal Économie & prévision.

Volume (Year): 126 (1996)
Issue (Month): 5 ()
Pages: 77-89

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Handle: RePEc:prs:ecoprv:ecop_0249-4744_1996_num_126_5_5824
Note: DOI:10.3406/ecop.1996.5824
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  1. Morrison, Catherine J, 1992. "Markups in U.S. and Japanese Manufacturing: A Short-Run Econometric Analysis," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(1), pages 51-63, January.
  2. Hulten, Charles R, 1973. "Divisia Index Numbers," Econometrica, Econometric Society, vol. 41(6), pages 1017-1025, November.
  3. Appelbaum, Elie, 1979. "Testing price taking behavior," Journal of Econometrics, Elsevier, vol. 9(3), pages 283-294, February.
  4. Nelson, Randy A & Wohar, Mark E, 1983. "Regulation, Scale Economies, and Productivity in Steam-Electric Generation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(1), pages 57-79, February.
  5. Christensen, Laurits R & Greene, William H, 1976. "Economies of Scale in U.S. Electric Power Generation," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages 655-676, August.
  6. Wansbeek, Tom & Kapteyn, Arie, 1989. "Estimation of the error-components model with incomplete panels," Journal of Econometrics, Elsevier, vol. 41(3), pages 341-361, July.
  7. Baltagi, Badi H & Griffin, James M, 1988. "A Generalized Error Component Model with Heteroscedastic Disturbances," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(4), pages 745-753, November.
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