Input usage, output mix and industry deregulation: an analysis of the Australian dairy manufacturing industry
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In this paper we estimate a Translog output distance function for a balanced panel
of state level data for the Australian dairy processing sector. We estimate a fixed
effects specification employing Bayesian methods, with and without the imposition
of monotonicity and curvature restrictions. Our results indicate that Tasmania and
Victoria are the most technically efficient states with New South Wales being the least
efficient. The imposition of theoretical restrictions marginally affects the results
especially with respect to estimates of technical change and industry deregulation.
Importantly, our bias estimates show changes in both input use and output mix that
result from deregulation. Specifically, we find that deregulation has positively biased
the production of butter, cheese and powders.