Productive Performance of Indian Mining Industry: A Stochastic Frontier Decomposition
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Abstract
This paper has estimated the Total Factor Productivity (TFP) growth of Indian mining Industry for the period 1989-2014 based on a decomposed formulation of stochastic production frontier. Productivity growth and its decomposed components have been compared over the study period. It is found that the annual average TFP growth of mining industry rose up from 3.66 % during 1989-2005 to 8.76 % during 2006-2014. Further, the result of decomposition reflects that the major source of productivity growth has changed from Technological Progress (TP) in initial years to Technical Efficiency Change (TEC) in recent years. In view of this, it could be suggested that mining industry in India requires to focus on investment in innovation and up-gradation of existing technology to further enhance productivity.
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Keywords: Total Factor productivity; Mining Industry; Panel data; Stochastic Frontier Analysis (SFA)
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The Global Journal of Business Economics and Management: Current Issues is an open-access journal. The copyright holder is the author or authors. Licensee: Birlesik Dunya Yenilik Arastirma ve Yayincilik Merkezi, North Nicosia, Cyprus. All articles can be downloaded free of charge. Articles published in the Journal are Open-Access articles distributed under the CC-BY license [Attribution 4.0 International (CC BY 4.0)].
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