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Stochastic Frontier Model on the estimation of productivity within the Venezuelan Manufacturing Sector

Author

Listed:
  • Marianela Luzardo Briceño

    (Doctora en Estadística por la Universidad de Los Andes. Universidad Pontificia Bolivariana. Bucaramanga, Colombia. Teléfono: (57) 304-337-0014.)

  • Víctor E. Márquez Pérez

    (Doctor en Estadística por la Universidad Central de Venezuela. Universidad Técnica de Manabí. Ecuador. Teléfono: (593) 98-480-6443.)

  • Yohana G. López H.

    (Licenciada en Estadística. Escuela de Estadística de la Universidad de Los Andes. Mérida, Venezuela.)

  • Ana Chacón

    (Especialista en Estadística por la Universidad Central de Venezuela. Universidad Técnica de Manabí. Ecuador.)

Abstract

A stochastic frontier study was carried out in order to estimate the technological changes in both scale and efficiency required in the total factor productivity of the Venezuelan manufacturing sector (2003-2007), with an unbalanced panel data of 21 branches of economic activity. The results showed that, over time, all the branches of economic activity included in the annual industry survey, carried out by the National Statistics Institute (INE in Spanish), and the strata types (large industry, mid-upper industry, mid-lower industry and small industry)1 showed an advance in technology, but not at the desired level since the technological performance was negative; likewise, both productive inefficiency and a contraction in the production of the Venezuelan manufacturing companies were observed.

Suggested Citation

  • Marianela Luzardo Briceño & Víctor E. Márquez Pérez & Yohana G. López H. & Ana Chacón, 2019. "Stochastic Frontier Model on the estimation of productivity within the Venezuelan Manufacturing Sector," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 44(48), pages 37-79, july-dece.
    • Handle: RePEc:ula:econom:v:44:y:2019:i:48:p:37-79
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    More about this item

    Keywords

    stochastic frontier; technical efficiency; productivity; Venezuelan manufacturing sector;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L6 - Industrial Organization - - Industry Studies: Manufacturing

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