[en] Malmquist indexes of productivity are generally estimated using index number techniques or
non-parametric frontier approaches. The aim of this paper is to showthat Malmquist indexes
can be estimated in a similar way using parametric-deterministic or parametric-stochastic
frontier approaches. To allow a multi-output multi-input technology and for technical
change in production, we adopt an output distance function which is specified in a translog
form. We then show that using the estimated parameters, several radial distance functions
can be calculated and combined in order to estimate and decompose the productivity index.
Finally, this approach is applied to a panel of Spanish insurance companies. The main
results confirm those generally obtained for financial services: very low rates of growth
and technical change in spite of a rapid deregulation process and expansion of activity.
Research Center/Unit :
CREPP - Centre de Recherche en Économie Publique et de la Population - ULiège
Disciplines :
Economic systems & public economics
Author, co-author :
Fuentes, Hugo J.
Grifell-Tatjé, Emili
Perelman, Sergio ; Université de Liège - ULiège > HEC-Ecole de gestion : UER > Economie publique appliquée
Language :
English
Title :
A Parametric Distance Function Approach for Malmquist Productivity Index Estimation
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