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|Title:||THE USE OF STOCHASTIC PRODUCTION FRONTIER MODEL FOR THE MEASUREMENT OF TECHNICAL EFFICIENCIES OF MANUFACTURING INDUSTRIES IN SINGAPORE||Authors:||ONG KIM PONG||Issue Date:||1990||Citation:||ONG KIM PONG (1990). THE USE OF STOCHASTIC PRODUCTION FRONTIER MODEL FOR THE MEASUREMENT OF TECHNICAL EFFICIENCIES OF MANUFACTURING INDUSTRIES IN SINGAPORE. ScholarBank@NUS Repository.||Abstract:||Every profession has its own beliefs, and the strongest belief of economists is in maximising behavior. Thus, many studies of frontier (maximal concept) production function are motivated by the measurement of efficiency (the ability to achieve maximum production). Over the past two decades, many econometricians have been trying to develop a relevant estimator for the stochastic production frontier that can be applied to measure the average technical efficiency of an industry. In the process, the measurement of both average industry and firm level technical efficiency are developed. Hence, this Academic Exercise extensively reviews the different approaches and algorithms to establish the methodology of the measurement of technical efficiency that can be used comfortably for empirical studies. In line with this, data from Economic Development Board is being used to estimate the technical efficiency of eight manufacturing industries in Singapore from 1983 to 1987. The results indicate that Singapore's manufacturing industries are generally more efficient than their overseas counterparts. However, within the manufacturing sector itself, there are variations in levels of technical efficiency. It is also found that the technical efficiencies of various industries are affected by the performance of the economy. The year of recession, 1985 indicates many such instances. In order to capture an in depth understanding of such a circumstance, firm level technical efficiency of one industry is also measured.||URI:||https://scholarbank.nus.edu.sg/handle/10635/166063|
|Appears in Collections:||Bachelor's Theses|
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