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Farm-level efficiency and productivity measurement using panel data: wool production in south-west Victoria

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journal contribution
posted on 2001-06-01, 00:00 authored by I Fraser, Phillip Hone
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.

History

Journal

Australian journal of agricultural and resource economics

Volume

45

Issue

2

Pagination

215 - 232

Publisher

Blackwell Publishers Ltd

Location

Oxford, England

ISSN

1364-985X

eISSN

1467-8489

Language

eng

Notes

Published Online: Dec 18 2002

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2001, Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishers Ltd

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