IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/127812.html

Determinantes de la eficiencia técnica relativa en proyectos de inversión financiados por el BCIE: Evidencia basada en DEA y modelo de variables censuradas
[Determinants of relative technical efficiency in CABEI-financed investment projects: Evidence from DEA and a censored regression model]

Author

Listed:
  • López, Axsell

Abstract

This study assesses the relative technical efficiency of investment projects financed by the Central American Bank for Economic Integration (CABEI) over the period 2010-2024, evaluating their capacity to transform financial resources into development outcomes. A two-stage approach is applied, combining Data Envelopment Analysis (DEA) with bias correction via bootstrap and a censored regression model to examine efficiency determinants. The results indicate an average technical efficiency of 35%, with substantial heterogeneity across projects, countries, and sectors. The benchmarking analysis identifies a limited set of projects defining the efficient frontier. Moreover, efficiency is associated with both microeconomic factors related to project design and implementation and macroeconomic conditions in recipient countries.

Suggested Citation

  • López, Axsell, 2026. "Determinantes de la eficiencia técnica relativa en proyectos de inversión financiados por el BCIE: Evidencia basada en DEA y modelo de variables censuradas [Determinants of relative technical effic," MPRA Paper 127812, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:127812
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/127812/9/MPRA_paper_127812.pdf
    File Function: original version
    Download Restriction: no
    File URL: https://mpra.ub.uni-muenchen.de/127861/1/MPRA_paper_127861.pdf
    File Function: revised version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Leopold Simar & Paul Wilson, 2000. "A general methodology for bootstrapping in non-parametric frontier models," Journal of Applied Statistics, Taylor & Francis Journals, vol. 27(6), pages 779-802.
    2. Era Dabla-Norris & Jim Brumby & Annette Kyobe & Zac Mills & Chris Papageorgiou, 2012. "Investing in public investment: an index of public investment efficiency," Journal of Economic Growth, Springer, vol. 17(3), pages 235-266, September.
    3. Denizer, Cevdet & Kaufmann, Daniel & Kraay, Aart, 2013. "Good countries or good projects? Macro and micro correlates of World Bank project performance," Journal of Development Economics, Elsevier, vol. 105(C), pages 288-302.
    4. Glenn Rayp & Nicolas Van De Sijpe, 2007. "Measuring and explaining government efficiency in developing countries," Journal of Development Studies, Taylor & Francis Journals, vol. 43(2), pages 360-381.
    5. 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.
    6. Amemiya, Takeshi, 1984. "Tobit models: A survey," Journal of Econometrics, Elsevier, vol. 24(1-2), pages 3-61.
    7. Léopold Simar & Paul W. Wilson, 1998. "Sensitivity Analysis of Efficiency Scores: How to Bootstrap in Nonparametric Frontier Models," Management Science, INFORMS, vol. 44(1), pages 49-61, January.
    8. Deininger, Klaus & Squire, Lyn & Basu, Swati, 1998. "Does Economic Analysis Improve the Quality of Foreign Assistance?," The World Bank Economic Review, World Bank, vol. 12(3), pages 385-418, September.
    9. Mr. Javier Kapsoli & Iulia Ruxandra Teodoru, 2017. "Benchmarking Social Spending Using Efficiency Frontiers," IMF Working Papers 2017/197, International Monetary Fund.
    10. Timothy J. Coelli & D.S. Prasada Rao & Christopher J. O’Donnell & George E. Battese, 2005. "An Introduction to Efficiency and Productivity Analysis," Springer Books, Springer, edition 0, number 978-0-387-25895-9, December.
    11. R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, vol. 30(9), pages 1078-1092, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wijesiri, Mahinda & Yaron, Jacob & Meoli, Michele, 2017. "Assessing the financial and outreach efficiency of microfinance institutions: Do age and size matter?," Journal of Multinational Financial Management, Elsevier, vol. 40(C), pages 63-76.
    2. Aziz Karimov, 2013. "Productive Efficiency of Potato and Melon Growing Farms in Uzbekistan: A Two Stage Double Bootstrap Data Envelopment Analysis," Agriculture, MDPI, vol. 3(3), pages 1-13, September.
    3. Wijesiri, Mahinda & Yaron, Jacob & Meoli, Michele, 2015. "Performance of microfinance institutions in achieving the poverty outreach and financial sustainability: When age and size matter?," MPRA Paper 69821, University Library of Munich, Germany.
    4. Moragues, Raul & Aparicio, Juan & Esteve, Miriam, 2023. "An unsupervised learning-based generalization of Data Envelopment Analysis," Operations Research Perspectives, Elsevier, vol. 11(C).
    5. Massimo Finocchiaro Castro & Calogero Guccio, 2018. "Measuring Potential Efficiency Gains from Mergers of Italian First Instance Courts through Nonparametric Model," Public Finance Review, , vol. 46(1), pages 83-116, January.
    6. Thiago Victorino & Carlos Rosano Peña, 2023. "The Development of Efficiency Analysis in Transportation Systems: A Bibliometric and Systematic Review," Sustainability, MDPI, vol. 15(13), pages 1-32, June.
    7. Franz R. Hahn, 2007. "Determinants of Bank Efficiency in Europe. Assessing Bank Performance Across Markets," WIFO Studies, WIFO, number 31499, June.
    8. Alessandra Cepparulo & Gilles Mourre, 2020. "How and How Much? The Growth-Friendliness of Public Spending through the Lens," European Economy - Discussion Papers 132, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    9. Nguyen, Bao Hoang & Simar, Léopold & Zelenyuk, Valentin, 2022. "Data sharpening for improving central limit theorem approximations for data envelopment analysis–type efficiency estimators," European Journal of Operational Research, Elsevier, vol. 303(3), pages 1469-1480.
    10. Santos, Joana & Simões, Pedro & Costa, Álvaro & Cunha Marques, Rui, 2010. "Efficiency of the Portuguese metros. is it different from other European metros?," MPRA Paper 34904, University Library of Munich, Germany.
    11. Nadia M. Guerrero & Juan Aparicio & Daniel Valero-Carreras, 2022. "Combining Data Envelopment Analysis and Machine Learning," Mathematics, MDPI, vol. 10(6), pages 1-22, March.
    12. Thanh Ngo & Kan Wai Hong Tsui, 2022. "Estimating the confidence intervals for DEA efficiency scores of Asia-Pacific airlines," Operational Research, Springer, vol. 22(4), pages 3411-3434, September.
    13. Kaffash, Sepideh & Azizi, Roza & Huang, Ying & Zhu, Joe, 2020. "A survey of data envelopment analysis applications in the insurance industry 1993–2018," European Journal of Operational Research, Elsevier, vol. 284(3), pages 801-813.
    14. Changhee Kim & Soo Wook Kim & Hee Jay Kang & Seung-Min Song, 2017. "What Makes Urban Transportation Efficient? Evidence from Subway Transfer Stations in Korea," Sustainability, MDPI, vol. 9(11), pages 1-18, November.
    15. M. Foddi & S. Usai, 2012. "Regional innovation performance in Europe," Working Paper CRENoS 201221, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    16. Petridis, Konstantinos & Malesios, Chrisovalantis & Arabatzis, Garyfallos & Thanassoulis, Emmanuel, 2013. "Efficiency analysis of forestry journals: Suggestions for improving journals’ quality," Journal of Informetrics, Elsevier, vol. 7(2), pages 505-521.
    17. Castillo, Leopoldo Laborda & Guasch, Jose Luis, 2012. "Overdraft facility policy and firm performance : an empirical analysis in eastern European Union industrial firms," Policy Research Working Paper Series 6101, The World Bank.
    18. Esteve, Miriam & Aparicio, Juan & Rodriguez-Sala, Jesus J. & Zhu, Joe, 2023. "Random Forests and the measurement of super-efficiency in the context of Free Disposal Hull," European Journal of Operational Research, Elsevier, vol. 304(2), pages 729-744.
    19. Chiang Kao & Shiang-Tai Liu, 2022. "Stochastic efficiencies of network production systems with correlated stochastic data: the case of Taiwanese commercial banks," Annals of Operations Research, Springer, vol. 315(2), pages 1151-1174, August.
    20. Halkos, George & Tzeremes, Nickolaos, 2011. "A conditional full frontier modelling for analyzing environmental efficiency and economic growth," MPRA Paper 32839, University Library of Munich, Germany.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:127812. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.