Farm-level efficiency and productivity measurement using panel data: wool production in south-west Victoria
Fraser, Iain and Hone, Phillip 2001, Farm-level efficiency and productivity measurement using panel data: wool production in south-west Victoria, Australian journal of agricultural and resource economics, vol. 45, no. 2, pp. 215-232, doi: 10.1111/1467-8489.00140.
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Title
Farm-level efficiency and productivity measurement using panel data: wool production in south-west Victoria
Australian journal of agricultural and resource economics
Volume number
45
Issue number
2
Start page
215
End page
232
Publisher
Blackwell Publishers Ltd
Place of publication
Oxford, England
Publication date
2001-06
ISSN
1364-985X 1467-8489
Summary
In this article we explore some issues surrounding the use of farm-level efficiency and productivity estimates for benchmarking studies. Using an eight-year balanced panel of Victorian wool producers we analyse annual variation between estimates of farm-level technical efficiency derived using Data Envelopment Analysis and Malmquist estimates of Total Factor Productivity. We find that farms change their relative rank in terms of efficiency across years. Also, unlike aggregate studies of Total Factor Productivity, we find at best erratic and modest growth, a worrying result for this industry. However, caution is needed when interpreting these results, and for that matter, benchmarking analysis as currently practised when using frontier estimation techniques like Data Envelopment Analysis.
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.