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| Study of technical efficiency measurement and total factor productivity of China，s oilfields by stochastic frontier method |
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SHI Xiao-jun1,WANG Li-jie2,SHAO Chun-wei3
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(1. School of Economics and Management， Beijing University of Aeronautics and Astronautics， Beijing 100083， China ;2. School of Business，China University of Mining and Technology，Beijing 100083 China ;3.International Investment Division，China National Petroleum Corporation， Beijing 100023， China )
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| Abstract: |
| By using three-input translog stochastic production functions，measurement and decomposition of technical efficiency of 19 China's oilfields for the 12 periods during the years of 2001 to 2004 were investigated based on a compounded depreciation rate method for capital measurement. And the measurement methods of three inputs were discussed in details.The econometrics calibration results show that effective labor input is the most important determinant of China's oilfields output and the average technical efficiency of China's oilfields is as low as 0. 61. Technicll efficiency decomposition shows that frontier technology progress contributes mostly to totll factor productivity growth and technicll inefficiency is the most negative factor affecting technicll progress. Scale economy and resources allocation efficiency of Chirks oilfields are both beneath the efficient level. |
| Key words: stochastic frontier production functions oilfields nomics |
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