Efficiency and economic growth: A panel analysis of Colombian regions

Luis Alberto Gutiérrez-Arango, Victor Giménez, Daniel Osorio-Barreto and Diego Prior

Chapter 16 in Handbook on Public Sector Efficiency, 2023, pp 356-372 from Edward Elgar Publishing

Abstract: By defining a stochastic frontier model, the present work decomposes total factor productivity change between technical efficiency change and technological progress components. This helps to determine the drivers of output growth due to the change in technical efficiency, technological progress and change in the level of inputs consumption. The empirical application considers data from 23 Colombian departments from year 1996 to 2009. With regards existent applications, one important innovation is the consideration of public and private capital stocks as inputs, information that is not usually available. The findings indicate that the departments analyzed do not exhibit a convergence process in terms of economic growth. Another significant conclusion is that the gap separating efficient and inefficient departments is expanding what jeopardizes the political plans to reduce the existent inequity.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
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