Regional Efficiency Differences And Development Policy Of Agriculture In The Yugoslav Republics: Estimates From Panel Data

Richard A. Hofler and James Payne
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Richard A. Hofler: University of Central Florida

The Review of Regional Studies, 1995, vol. 25, issue 3, 287-300

Abstract: This paper discusses economic development policy in the Yugoslav republics, with particular attention to agricultural production. Previous researchers have suggested that a development strategy of transferring investment resources from the more developed to the less developed republics as well as segmentation of the financial system has resulted in an inefficient allocation and use of resources. Thus we examine the question of efficiency from panel data, using the stochastic production frontier. In addition to analyzing the differences across republics, we also address the differences associated with social versus private modes of organizing production. We find the private sector produces with higher output efficiency than the social sector. Moreover, our findings concur with prior discussions on the economic impact of regional development policy pursued in the Yugoslav republics. Relative to the more developed republics, the less developed republics cannot efficiently utilize the large volume of investment resources allocated by the Federal government.

Date: 1995
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