In production economics, one of the most interesting questions is that of the causal relationship between technical efficiency and allocative efficiency. This as yet remains a puzzle without a unique answer. There are a few theoretical analyses conceptualizing the relationship, but consensus has...

In production economics, one of the most interesting questions is that of the causal relationship between technical efficiency and allocative efficiency. This as yet remains a puzzle without a unique answer. There are a few theoretical analyses conceptualizing the relationship, but consensus has...

Economic theory suggests that the best commercial policy for a country is free trade, regardless of the measures taken by its competitors. This policy, however, has certain drawbacks and consequences. Commitment to free trade subjects the economy to the dictates of events beyond its control,...

Regional dimensions of a national economy are important in policy making when there are large inter-regional differences in the level of development, growth and resources. In the Indian context, inter-state variations in economic growth and development have attracted continued research and...

Our objective in this paper is to explain a method to decompose the sources of total factor productivity (TFP) growth into technological progress and changes in technical efficiency within the framework of the varying coefficients frontier production function. An empirical application is...

The effects of ageing on incomes, taxes, social protection and labour productivity will be important considerations in Singapore’s future economic policy, while posing strong challenges for the country, which has become more global in outlook. This paper briefly discusses some of these...