In the year that capital-poor countries open their stock markets to foreign investors, the growth rate of their typical firm’s capital stock exceeds its pre-liberalization mean by 4.1 percentage points. In each of the next three years the average growth rate of the capital stock for the 369 firms in the sample exceeds its pre-liberalization mean by 6.1 percentage points. However, there is no ev...

Cost-effectiveness analysis (CEA), as a system of allocative efficiency for global health programs, is an influential criterion for resource allocation in the context of diplomacy and inherent foreign policy decisions therein. This is because such programs have diplomatic benefits and costs that can be uploaded from the recipient and affect the broader foreign policy interests of the donor and ...

The health care sector has become a large part of the national economy. Its expenditure share in the gross domestic product has been increasing over the years. An important piece of information for the current policy debate is the effectiveness and efficiency of our health care system. The objective of this study is to review and critique approaches in measuring the effectiveness and efficiency...

Abstract The research seeks to measure the technical, allocative and economic efficiency of fields breeding fattening calves, determine amount resources that achieve specialized then estimate surplus deficit in both quantity concentrated, rough green fodder, value veterinary medicines numbers human labor force for one season. Technical according production function technical sample reached an a...

A multi-product cost model is estimated on a panel of U.S. local exchange carriers from the period 1989–1999. The model allows specification of cost inefficiency to avoid potential bias in the estimates. Unlike earlier research, the paper experiments with several proxies of the carriers’ access provision. The results show slight economies of scale and density with moderate cost increments due t...

Most of the research concerned with the economics of health systems has focussed on allocative efficiency. Specifically, much effort has been devoted to the development and application of techniques of economic evaluation. The consideration of technical efficiency has figured less prominently in the search for 'solutions' to the problems of health systems. Those working on the economic evaluati...

Models Traders' values and information typically consist of both private and commonvalue elements. In such environments, full allocative efficiency is impossible when the private rate of information substitution differs from the social rate (Jehiel and Moldovanu, 2001). We link this impossibility result to a failure of the efficient market hypothesis, which states that prices adequately reflect...