Estimación de la Eficiencia del Sector Metalmecánico en Colombia: Análisis de la Frontera Estocástica (Efficiency Estimation of the Metallurgy Sector in Colombia: Stochastic Frontier Analysis)
Cuadernos de Economía, Vol. 31, no. 58, pp. 257-286, 2012
30 Pages Posted: 14 Feb 2013
Date Written: December 28, 2012
Abstract
This paper evaluates the performance of the metalworking sector in Colombia, between 1998 and 2007, using stochastic frontier techniques (SFA), which, through the estimation of the deviations from an ideal function of costs, measure levels economic efficiency of various production units. The results indicate significant differences in the performance of the 12 departments included in the analysis, suggesting that each could achieve significant gains in terms of cost reduction if the production units were closer to the production levels of operation of the more efficient. Additionally, we find that during the period of analysis there is a significant change in the cost efficiency of the sector. Said efficiency can be explained by the impact, the production units of the sector, and the economic crisis in the country in the late nineties.
Note: Downloadable document is in Spanish.
Keywords: Stochastic frontiers, economic efficiency, productivity, metalworking
JEL Classification: C23, D20, D24, L64
Suggested Citation: Suggested Citation