Markets around the world are becoming more competitive because of changing operating and regulatory environments. One such change - the loosening of trade restrictions - is a macroeconomic policy shift that should have a microeconomic impact on industrial efficiency. Specifically, competitive...

As markets worldwide become less regulated, it becomes increasingly possible and timely to establish the presence of an empirical relationship between technical efficiency and market forces compelling agents to economize. This article, taking an innovative approach to test the hypothesis that...