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Measuring Technical Efficiency in the Greek Public Power Corporation by means of Stochastic Frontier Analysis (1970-1997)

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  • Belegri-Roboli, Athena
  • Michaelides, Panayotis G.

Abstract

This article is a first attempt to measure technical efficiency of the Greek Public Power Corporation, technical efficiency examined within the framework of stochastic production frontiers. The period 1970-’97 is examined and a Cobb-Douglas production function is used. The results demonstrate that the firm’s technical efficiency ranged between 82.5% and 100% and achieved its maximum performance in 1974 and 1992. These estimates are, in general terms, consistent with the findings of other researchers.

Suggested Citation

  • Belegri-Roboli, Athena & Michaelides, Panayotis G., 2005. "Measuring Technical Efficiency in the Greek Public Power Corporation by means of Stochastic Frontier Analysis (1970-1997)," MPRA Paper 74425, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:74425
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    References listed on IDEAS

    as
    1. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August.
    2. Fried, Harold O. & Lovell, C. A. Knox & Schmidt, Shelton S. (ed.), 1993. "The Measurement of Productive Efficiency: Techniques and Applications," OUP Catalogue, Oxford University Press, number 9780195072181.
    3. Olson, Jerome A. & Schmidt, Peter & Waldman, Donald M., 1980. "A Monte Carlo study of estimators of stochastic frontier production functions," Journal of Econometrics, Elsevier, vol. 13(1), pages 67-82, May.
    4. Meeusen, Wim & van den Broeck, Julien, 1977. "Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 435-444, June.
    5. Battese, George E. & Coelli, Tim J., 1988. "Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data," Journal of Econometrics, Elsevier, vol. 38(3), pages 387-399, July.
    6. 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 325-332.
    7. Bauer, Paul W., 1990. "Recent developments in the econometric estimation of frontiers," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 39-56.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Energy Sector; Electricity Generation; Technical Efficiency; Stochastic Frontier; D.E.A.;
    All these keywords.

    JEL classification:

    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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