Determinantes de la eficiencia técnica relativa en proyectos de inversión financiados por el BCIE: Evidencia basada en DEA y modelo de variables censuradas

Determinants of relative technical efficiency in CABEI-financed investment projects: Evidence from DEA and a censored regression model

Axsell López

MPRA Paper from University Library of Munich, Germany

Abstract: This study assesses the relative technical efficiency of investment projects financed by the Central American Bank for Economic Integration (CABEI) over the period 2010-2024, evaluating their capacity to transform financial resources into development outcomes. A two-stage approach is applied, combining Data Envelopment Analysis (DEA) with bias correction via bootstrap and a censored regression model to examine efficiency determinants. The results indicate an average technical efficiency of 35%, with substantial heterogeneity across projects, countries, and sectors. The benchmarking analysis identifies a limited set of projects defining the efficient frontier. Moreover, efficiency is associated with both microeconomic factors related to project design and implementation and macroeconomic conditions in recipient countries.

Keywords: Data Envelopment Analysis; CABEI; Technical Efficiency; Investment Projects; Tobit. (search for similar items in EconPapers)
JEL-codes: C13 C14 C61 H43 O22 O54 (search for similar items in EconPapers)
Date: 2026-01-21
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:127812

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