EconPapers    
Economics at your fingertips  
 

Electricity Sector Reform Performance in Sub-Saharan Africa: A Parametric Distance Function Approach

José F. Baños-Pino, David Boto-García and Emma Zapico

No 2021/03, Efficiency Series Papers from University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG)

Abstract: This study performs an empirical analysis of the technical efficiency of toll motorway concessionaire companies in Spain. We estimate a dynamic stochastic frontier model using an input-oriented distance function for 30 concessionaires during the 2003-2015 period. Considering a multi-output production technology with light and heavy vehicles, we estimate an autoregressive dynamic specification under a Bayesian framework that acknowledges persistence in firm efficiency due to adjustment costs. Our results reveal: i) large persistence in technical inefficiency in the toll motorway sector, ii) technical change from 2006 onwards, and iii) increasing returns to scale. We derive both short- and long-run inefficiency estimates and document that long-run inefficiency increases with the number of stretches a firm manages; however, inefficiency is unrelated to the political authority that grants the concession. We also find that the marginal cost of light vehicles per kilometre is about half the one for heavy vehicles.

Pages: 35
Date: 2021
New Economics Papers: this item is included in nep-eff and nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.unioviedo.es/oeg/ESP/esp_2021_03.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oeg:wpaper:2021/03

Access Statistics for this paper

More papers in Efficiency Series Papers from University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG) Departamento de Economía, Facultad de Economía y Empresa, Universidad de Oviedo, Avenida del Cristo, s/n. 33006 Oviedo - SPAIN. Contact information at EDIRC.
Bibliographic data for series maintained by Luis Orea () and David Roibas ().

 
Page updated 2022-03-16
Handle: RePEc:oeg:wpaper:2021/03