6.06. Analysis of technical efficiency using stochastic frontier model for the economies of the countries members of the oecd

Autores: De La Fuente, H., Vallina, A., Bustos, E., Solis, R.

Palabras Clave: Stochastic Frontier Models, Technical Efficiency, Economic Growth, OCDE, GDP.

 

Economic development is a topic widely studied, there are several authors and institutions that are dedicated to study, analyze and advance in the conception of different models, methodologies and data management to address, describe and measure the level of development of a large number of countries, as well as identify its determinants. The approach in this study is to focus in a theoretical framework that provides a wide range of economic growth determinants towards relative measure more than absolute measurement of economic performance, considering that many factors interact to attain the GDP results of the different countries (de la Fuente et al., 2013).

A review of authors and institutions will allow to build a theoretical framework for classifying and defining indicators of economic development. Furthermore, in the current study, the analysis will focus on macroeconomic determinants, which influence the performance of a country in terms of development, among them we can mention: income, savings and investment, population growth and unemployment.

Thus, initially in the present investigation we will determine technical efficiency of OECD countries. Furthermore, this will allow to find out whether higher GDPs implies higher levels of efficiency in the use of their resources. Finally, identify the OECD countries with higher levels of efficiency to compare with the ones that have lower efficiency.