scholarly journals Total Factor Productivity Growth of Indian General Insurance Companies in the Recent Period: A Bootstrapped Approach

2019 ◽  
Vol 11 (1-2) ◽  
pp. 59-80
Author(s):  
Ram Pratap Sinha
Keyword(s):  
Private Sector ◽  
Total Factor Productivity ◽  
Productivity Growth ◽  
Malmquist Index ◽  
American Economic Review ◽  
Productivity Index ◽  
Insurance Companies ◽  
Productivity Change ◽  
Productivity Analysis ◽  
Factor Productivity

This study estimates Malmquist index of total factor productivity change of 14 major general insurers in India over the period 2009–10 to 2016–17 over 7 annual windows. The study decomposes total factor productivity index into its constituent components, using several approaches including Färe et al. (1989, Productivity Developments in Swedish Hospitals: A Malmquist Output Index Approach. Carbondale: Department of Economics, Southern Illinois University; 1992, Journal of Productivity Analysis 3(1): 85–101), Färe et al. (1994, American Economic Review 84(1): 66–83), Ray and Desli (1997, American Economic Review 87(5): 1033–39) and Wheelock and Wilson (1999, Journal of Money, Credit and Banking 31(2): 212–23). Furthermore, the study uses bootstrap data envelopment analysis (DEA) method to obtain bias-corrected point and interval estimates of Malmquist index and its components. Finally, the study makes a comparison of productivity performance between public and private sector insurers. The results indicate a modest growth in total factor productivity during the period contributed mainly by efficiency changes. The private sector insurers performed better than the public sector in terms of productivity growth. The variations in productivity performance indicate that insurer scale of activity can affect their performance. JEL Classification: G-23, C-61, D-21

Total Factor Productivity Growth of Indian Life Insurance Companies: A Malmquist Approach

2021 ◽  
pp. 232-236
Keyword(s):  
Total Factor Productivity ◽  
Life Insurance ◽  
Productivity Growth ◽  
Malmquist Index ◽  
Secondary Data ◽  
Private Life ◽  
Annual Reports ◽  
Insurance Companies ◽  
Factor Productivity ◽  
Insurance Sector

This study aimed to investigate the productivity growth of Indian life insurance companies using the Malmquist index. This study analyzed all the 24 life insurance companies' productivity performance in India from the financial year 2012-2013 to 2016-2017 using the Malmquist index based on the secondary data collected from Insurance Regulatory and Development Authority's Annual Reports. Findings indicated that the total factor productivity (TFP) of the life insurance sector increased at an average of 27.6 percent during the study period. On average, this improvement was ascribed to an efficiency improvement of 5.5 percent and a technological improvement of 20.9 percent. The results also indicated that the private life insurers experienced higher productivity growth of 30.2 percent than the state-owned Life Insurance Corporation of India's 17.2 percent. This is the first study that comprehensively analyzed the changes in total factor productivity of the Indian life insurance sector. The study holds important and practical insights for policymakers, practitioners, and decision-makers.

scholarly journals Measuring Productivity Change in U.S. Agriculture

1975 ◽  
Vol 7 (2) ◽  
pp. 69-75 ◽  
Author(s):  
Yao-Chi Lu
Keyword(s):  
Public Policy ◽  
Total Factor Productivity ◽  
Productivity Growth ◽  
Agricultural Production ◽  
Functional Form ◽  
Productivity Index ◽  
Productivity Change ◽  
Factor Productivity ◽  
Index Numbers ◽  
Increase Productivity

To understand the sources of change in productivity, that appropriate public policy and programs can be developed to increase productivity growth, a reliable and updated measure is needed. The term “productivity” discussed here refers to total factor productivity, or the ratio of value of total agricultural output to that of all inputs used in agricultural production.The first comprehensive work on the measurement of productivity change in U.S. agriculture was done by Loomis and Barton in 1961. Since then, this index has been updated annually as an offical USDA agricultural productivity index. The weakness of using index numbers lies in the arithmetic formula used. It implies a specific functional form of the production function that may not accurately describe the data. Thus, a need arises to consider an alternative estimate of productivity.

scholarly journals Non-parametric decomposition of total factor productivity growth in yam production in North-Central Nigeria

2021 ◽  
pp. 91-98
Author(s):  
R.G. Isonguyo ◽  
M.A Ojo ◽  
A.J. Jirgi ◽  
E.S. Yisa
Keyword(s):  
Total Factor Productivity ◽  
Productivity Growth ◽  
Data Bank ◽  
Productivity Index ◽  
Productivity Change ◽  
Regression Result ◽  
Factor Productivity ◽  
Tobit Regression ◽  
North Central ◽  
Non Parametric

Abstract. Non-parametric analysis of total factor productivity change in yam production in North-Central Nigeria from 1992 to 2016 was carried out with the use of secondary data. The secondary production data of yam for that period were collected from Food and Agriculture Statistical (FAOSTAT) data bank. Malmquist Total Factor Productivity Index (MTFPI) based on Data Envelopment Analysis (DEA), was used to empirically analyse the total factor productivity of the yam, while Tobit regression was used to analyse the determinants of total factor productivity in the study area. The results of the MTFPI analysis reveal that yam contributed 1.4% of technical efficiency change to productivity growth over the period studied. The technological contributions to productivity growth regressed at 1.8%. The study revealed the productivity growth of yam to be 0.2%. Tobit regression result showed credit borrowed, government policy (Agricultural Transformation Agenda – ATA), capital, and labour to have significant and positive relationships with the productivity of the crop at either p≤0.05 or p≤0.001 level of probability, which implies that increase in them led to increase in the crop’s productivity. Capital-labour was statistically significant but negatively related to yam productivity at p≤0.01, which implied that utilization of labour in a greater proportion than capital led to reduction or regress in its productivity growth. The study recommends farmers’ training on farm practices and techniques to increase yam productivity. They should be encouraged to accept improved yam varieties from research institutes, properly allocate the production resources and adopt improved technology to achieve productivity growth in the study area.

scholarly journals EVALUATION OF FIRMS OF AGRICULTURE AND FOOD SECTORS QUOTED AT BORSA İSTANBUL (BİST) BY DEA-BASED MALMQUIST TOTAL FACTOR PRODUCTIVITY INDEX

2017 ◽  
Vol 16 (1) ◽  
pp. 73-82 ◽  
Author(s):  
Ali Öztop ◽  
Harun Uçak
Keyword(s):  
Total Factor Productivity ◽  
Malmquist Index ◽  
Efficient Frontier ◽  
Productivity Index ◽  
Productivity Change ◽  
Efficiency Frontier ◽  
Factor Productivity ◽  
Productivity Losses ◽  
Food And Agriculture ◽  
Agriculture And Food

This study applies a DEA-based Malmquist index to measure technical efficiency and total factor productivity change of food and agriculture firms quoted at Borsa İstanbul (BİST) over the 2010–2015 period. We have investigated efficiency scores of firms using financial ratios. The study shows that, average Malmquist index score is 16.9% below efficiency frontier. Also, four of the twenty-three firms’ (KRSAN, KENT, TUKAS and ULKER) Malmquist total factor productivity (MTFP) ratio above the efficient frontier. The results indicate that nineteen out of twenty-three firms (82.6%) experienced productivity losses in the examined period.

scholarly journals A Dual Challenge in China’s Sustainable Total Factor Productivity Growth

2020 ◽  
Vol 12 (13) ◽  
pp. 5342
Author(s):  
Shaohua Zhang ◽  
Tzu-Pu Chang ◽  
Li-Chuan Liao
Keyword(s):  
Total Factor Productivity ◽  
Productivity Growth ◽  
Industrial Structure ◽  
Critical Issue ◽  
Sustainable Growth ◽  
Total Factor Productivity Growth ◽  
Productivity Index ◽  
Productivity Change ◽  
Factor Productivity ◽  
The Government

Since total factor productivity growth plays an essential role in China’s economic growth, the source of this growth has been a critical issue over the past decades. Hence, this paper applies an input slack-based productivity (ISP) index to investigate the contributors (i.e., labor and capital inputs) to China’s total factor productivity growth. The ISP index, combining the features of the directional distance function and Luenberger productivity index, can calculate the productivity change of each input factor under the total factor framework. According to the decomposition analyses, we find that China is confronting a dual challenge in total factor productivity growth: first, capital productivity growth exhibits a remarkable slowdown after the mid-1990s; second, although labor productivity continually expands, the relative labor efficiency among provinces has deteriorated since the 2000s. The results imply that the government should not only advocate upgrading industrial structure, but also consider balanced regional development policies for China’s sustainable growth.

scholarly journals Industry Efficiency and Total Factor Productivity Growth under Resources and Environmental Constraint in China

2012 ◽  
Vol 2012 ◽  
pp. 1-10 ◽  
Author(s):  
Feng Tao ◽  
Ling Li ◽  
X. H. Xia
Keyword(s):  
Energy Consumption ◽  
Total Factor Productivity ◽  
Environmental Efficiency ◽  
Pollutant Emissions ◽  
Productivity Index ◽  
Productivity Change ◽  
Factor Productivity ◽  
Energy And Environment ◽  
Capital Labor Ratio ◽  
Investment Capital

The growth of China's industry has been seriously depending on energy and environment. This paper attempts to apply the directional distance function and the Luenberger productivity index to measure the environmental efficiency, environmental total factor productivity, and its components at the level of subindustry in China over the period from 1999 to 2009 while considering energy consumption and emission of pollutants. This paper also empirically examines the determinants of efficiency and productivity change. The major findings are as follows. Firstly, the main sources of environmental inefficiency of China's industry are the inefficiency of gross industrial output value, the excessive energy consumption, and pollutant emissions. Secondly, the highest growth rate of environmental total factor productivity among the three industrial categories is manufacturing, followed by mining, and production and supply of electricity, gas, and water. Thirdly, foreign direct investment, capital-labor ratio, ownership structure, energy consumption structure, and environmental regulation have varying degrees of effects on the environmental efficiency and environmental total factor productivity.

scholarly journals KOMPARASI EFISIENSI & PRODUKTIVITAS PERUSAHAAN ASURANSI JIWA KONVENSIONAL DAN SYARIAH DI INDONESIA PADA TAHUN 2014 – 2017, DENGAN PENDEKATAN DEA & INDEKS MALMQUIST

2020 ◽  
Vol 6 (9) ◽  
pp. 1877
Author(s):  
Oky Suryoaji ◽  
Eko Fajar Cahyono
Keyword(s):  
Data Envelopment Analysis ◽  
Total Factor Productivity ◽  
Malmquist Index ◽  
Productivity Change ◽  
Data Envelopment ◽  
Factor Productivity ◽  
Constant Return

Tujuan penelitian ini adalah untuk mengetahui tingkat efisiensi dan produktivitas perusahaan asuransi jiwa antara konvensional dan syariah (baik Unit Usaha Syariah maupun Full Fledge) periode 2014 – 2017. Penelitian ini menggunakan pendekatan kuantitatif dengan metode non parametrik DEA (Data Envelopment Analysis) yang dilandaskan dengan asumsi CRS (Constant Return to Scale) dan VRS (Variable Return to Scale) dan Indeks Malmquist asumsi TFPC (Total Factor Productivity Change) dengan diolah menggunakan aplikasi DEAP Versi 2.1. Variabel yang digunakan meliputi Total Aset, Beban, Klaim, Premi/Dana Tabrru’, dan Pendapatan. Subjek yang digunakan dalam penelitian ini sebanyak 29 perusahaan asuransi jiwa syariah yang terdiri 10 perusahaan asuransi jiwa syariah dan 19 perusahaan asuransi jiwa konvensional. Hasil penelitian menunjukkan bahwa rata-rata perusahaan asuransi jiwa konvensional dan syariah belum mencapai efisien (CRS) dan rata-rata TFPC perusahaan asuransi jiwa konvensional sudah mencapai produktivitas sementara syariah belum mencapai produktivitas.Keywords:Asuransi Jiwa Syariah, Efisiensi, Produktivitas, Data Envelopment Analysis (DEA), Constant Return to Scale (CRS), Variable Return to Scale (VRS), Malmquist Index (MI), Total Factor Productivity Change (TFPC)

scholarly journals Productivity Change of Microfinance Institutions in Bosnia and Herzegovina

2019 ◽  
Vol 14 (2) ◽  
pp. 23-33
Author(s):  
Velid Efendić ◽  
Nejra Hadžiahmetović
Keyword(s):  
Total Factor Productivity ◽  
Bosnia And Herzegovina ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Productivity Change ◽  
Microfinance Institutions ◽  
Factor Productivity ◽  
Strategic Objectives ◽  
Average Decrease ◽  
Recent Financial Crisis

Abstract The main aim of this paper is to investigate the productivity changes of microfinance institutions (MFIs) in Bosnia and Herzegovina (BiH) during and after the recent financial crisis. The study covers the period starting from 2008 until 2015. Using the Malmquist Productivity Index (MPI) over the sample of 10 MFIs and a balanced panel dataset of 80 observations, this study explores technical and technological change as well as total factor productivity (TFP) change. The empirical findings indicate a decline in TFP in most of the analyzed periods with an average decrease of 2.5%. The study reveals an average technological decline in the industry of 1.7%, while technical efficiency change is recorded at the level of -0.8%. Overall, crisis efficiency recovery occurred during the period between 2009 and 2013. However, due to technological inefficiencies, average total factor productivity change remains negative. Hence, policy makers need to enhance the technological progress in order to meet their strategic objectives in BiH MFIs.

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