A Parametric Distance Function Approach for Malmquist Productivity Index Estimation

Hugo Fuentes, Emili Grifell-Tatje and Sergio Perelman

Journal of Productivity Analysis, 2001, vol. 15, issue 2, 79-94

Abstract: Malmquistindexes of productivity are generally estimated using index numbertechniques or non-parametric frontier approaches. The aim ofthis paper is to show that Malmquist indexes can be estimatedin a similar way using parametric-deterministic or parametric-stochasticfrontier approaches. To allow a multi-output multi-input technologyand for technical change in production, we adopt an output distancefunction which is specified in a translog form. We then showthat using the estimated parameters, several radial distancefunctions can be calculated and combined in order to estimateand decompose the productivity index. Finally, this approachis applied to a panel of Spanish insurance companies. The mainresults confirm those generally obtained for financial services:very low rates of growth and technical change in spite of a rapidderegulation process and expansion of activity. Copyright Kluwer Academic Publishers 2001

Keywords: distance functions; Malmquist index; parametric frontier; Spanish insurance (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (69)

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Persistent link: https://EconPapers.repec.org/RePEc:kap:jproda:v:15:y:2001:i:2:p:79-94

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DOI: 10.1023/A:1007852020847

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