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Productivity change in Taiwan's farmers' credit unions: a nonparametric risk‐adjusted Malmquist approach

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  • Po‐Chi Chen
  • Ming‐Miin Yu
  • Ching‐Cheng Chang
  • Shih‐Hsun Hsu

Abstract

This article proposes an extended three‐stage DEA methodology similar to Fried et al. (2002) to improve the measurement of productivity growth when the assumption of free disposability of undesirable output does not apply. A directional distance function is used to construct adjusted Malmquist–Luenberger productivity indexes which simultaneously account for the impacts of undesirable outputs, environmental variables, and statistical noise. Panel data for 263 farmers' credit unions (FCUs) in Taiwan covering the 1998–2000 periods are employed to illustrate the advantages of this method. On average, the productivity of Taiwan's FCUs is found to have deteriorated over the 1998–2000 period. Although an improvement in efficiency has been observed, the major reason for the deterioration is found to be due to the regression of technology.

Suggested Citation

  • Po‐Chi Chen & Ming‐Miin Yu & Ching‐Cheng Chang & Shih‐Hsun Hsu, 2007. "Productivity change in Taiwan's farmers' credit unions: a nonparametric risk‐adjusted Malmquist approach," Agricultural Economics, International Association of Agricultural Economists, vol. 36(2), pages 221-231, March.
    • Handle: RePEc:bla:agecon:v:36:y:2007:i:2:p:221-231
    DOI: 10.1111/j.1574-0862.2007.00200.x
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    Cited by:

    1. Lili DING & Haihong ZHENG & Wanglin KANG, 2017. "Measuring the Green Efficiency of Ocean Economy in China: An Improved Three - Stage DEA Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 5-22, March.
    2. Surakiat PARICHATNON & Kamonthip MAICHUM & Ke-Chung PENG, 2018. "Measuring technical efficiency of Thai rubber production using the three-stage data envelopment analysis," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(5), pages 227-240.
    3. Louhichi, Awatef & Boujelbene, Younes, 2020. "Credit risk pricing and the rationality of lending decision-making within dual banking systems: A parametric approach," Economic Systems, Elsevier, vol. 44(1).
    4. Jia-Ching Juo & Yu-Hui Lin & Tsai-Chia Chen, 2015. "Productivity change of Taiwanese farmers’ credit unions: a nonparametric metafrontier Malmquist–Luenberger productivity indicator," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 23(1), pages 125-147, March.
    5. Skevas, Theodoros & Stefanou, Spiro E. & Oude Lansink, Alfons, 2014. "Pesticide use, environmental spillovers and efficiency: A DEA risk-adjusted efficiency approach applied to Dutch arable farming," European Journal of Operational Research, Elsevier, vol. 237(2), pages 658-664.
    6. Llanquileo-Melgarejo, Paula & Molinos-Senante, María, 2022. "Assessing eco-productivity change in Chilean municipal solid waste services," Utilities Policy, Elsevier, vol. 78(C).
    7. Wen-Jen Tsay & Cliff J. Huang & Tsu-Tan Fu & I-Lin Ho, 2009. "Maximum Likelihood Estimation of Censored Stochastic Frontier Models: An Application to the Three-Stage DEA Method," IEAS Working Paper : academic research 09-A003, Institute of Economics, Academia Sinica, Taipei, Taiwan.

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