José Baños-Pino

ECONOMIC EFFICIENCY IN SPANISH PORTS: SOME EMPIRICAL EVIDENCE

In this study, a stochastic frontier cost function is used to estimate the econmic efficiency of Spanish ports through panel data. The sample covers annual data of 27 Spanish ports from 1985–1989. By comparing a Cobb-Douglas function with a translog, it is found that the latter best represents the technology according to the data. Analysing the efficiency indices obtained, it is found that the relatively larger ports are more economically inefficient. Moreover, the presence of large scale economies has been detected, as well as a lack of technical progress for the period considered.

The allocative efficiency measure by means of a distance function: The case of Spanish public railways

This paper is an empirical application of the distance function to study the allocative efficiency of a regulated railway firm, RENFE, where the cost minimising hypothesis may be questioned. The distance function, which is the dual of the cost function, completely describes the technology and, like the cost function, it allows a multiproduct analysis. However, unlike the cost function, the input prices are not needed for its calculation and it does not imply cost minimisation. We have obtained the shadow prices of the productive factors, which satisfy the condition of minimum cost. These shadow prices are used to calculate the degree of allocative inefficiency of the firm and the origin of this inefficiency by using a parametric correction of prices (kij). The procedure followed has consisted of estimating a system of equations for the input distance function and cost share equations, employing the iterative seemingly unrelated regressions method (ITSUR). Moreover, in contrast with other studies which have used this method, we assume that the employment of an input in a proportion different from that which would minimise cost could be systematic, and incorporate this possibility into our empirical model. The model was estimated using annual data over the period 1955-95. In order to achieve a distribution and the confidence intervals of the proportionality terms estimated, kij, we have used a standard bootstrap technique.

Marshallian demands of intercity passenger transport in Spain: 1980-1992. An economic analysis

In this study, a theoretical model for the passenger transport demands in Spain is presented. The data is used for the 1980.I-1992.IV quarterly period, and several equations are estimated for the different modes of transport: railway (Talgo), railway (long distance); road and air transport. Cointegration techniques, which are subject to a wide range of contrasts, are used to obtain short and long term equations. The product, price and cross-elasticities of each mode of transport are obtained. These estimations may be used to analyse the effects of transport tariffs on income changes, as well as to predict short- and long-term traffics.

The economic impact of football on the regional economy.

In this study we measure the economic impact of sports on the regional economy. In particular, we focus on the effects generated by the activity of the two most important football clubs in the region. From the different tools traditionally used in macro-economic studies of sports, we have chosen the input-output analysis. The data, on the economic results of both the teams and the regional input-output tables (years 1995 and 2000) have been analysed using a Leontieff demand model, which has been modified in order to adapt it to the peculiarities of the study. As far as the measurement of the economic impact is concerned, this model permits a multiplier, which is to be obtained for each branch of activity, and the computation not only of the direct effects but also of the indirect and induced effects. Moreover, the economic impact on tourism has been analysed.

Determinants of Tourists’ Length of Stay: A Hurdle Count Data Approach

This article analyses tourists’ length of stay in a particular destination using a Hurdle Count Data model that allows us to first identify the determinants of the decision to be a same-day visitor or a tourist, and then to explain the length of stay for tourists. Apart from sociodemographic characteristics, we are interested in the effects of distance, mode of transport, and some relevant destination attributes of the destination such as tranquillity, natural environment, or climate. Another feature this article addresses is how advertising, recommendations, and previous experience at the destination affect both the probability of an overnight stay and the length of the stay. The results indicate that the determinants of the decision to stay overnight and how long to stay are not the same. Besides, a positive previous experience and having seen advertising of the destination positively affect the overnight stay decision and the number of days.

Determinants of the Demand of International Maritime Transport

This paper analyses the behaviour of the functions of importing and exporting goods by maritime transport mode in Spain during the period 1994.I–1998. IV Cointegration techniques are used in the estimations to obtain long-term price and income elasticities. These estimations can be used to assess the effects of price modifications in the volume of imports and exports and, hence, to carry out forecasts on international trade and maritime transport.

Analysis of the Returns to Scale, Elasticities of Substitution and Behavior of Shipping (General Cargo) Production

The empirical analysis of production functions can be directed at least in two different ways which may have the same results. Firstly, we may directly assume a particular and flexible production function, and then test the different restrictions stage by stage, in order to find the most suitable functional form. An alternative way would be to assume cost, profit or input conditioned demand functions, which, after satisfying the corresponding duality theorems must provide the same information as the production function. Therefore, if the production integrability problem allows us to change from a cost function – for instance – to a production function, the technology can be perfectly detected from such a cost function. In this study, I will use the former method in which a flexible functional form such as the logarithmic transcendental or translog is directly assumed, which allows us to execute different parametrical tests of the various properties of the production technology. This choice requires information about the amount of output and of productive input. Some interesting results can be obtained from this function, such as the input elasticities of substitution, the returns to scale of the production function, the marginal products of inputs, the output elasticities and different economic hypotheses.

The Conditioned Demands of “General Merchandise”, “Dry Bulk” and “Liquid Bulk” Sea Transport

In this paper we use a theoretical model for sea transport demand services in Spain for the period 1975–1990. Using quarterly data, we estimate separate equations for the different of sea traffic, focus in Liquid Bulk traffic.

Returns to Scale, Elasticities of Substitution and Behavior of Shipping (Dry Bulk) Transport Costs, Some Empirical Evidence

In the present section, we estimate cost functions for Solid Bulk shipping transport by 34 private firms for 1991. The functional form used is the Translog drawn by Christensen et al. (1973). We also estimate the Allen and Morishima elasticities of substitution, and compare and interpret the results as well.

Analysis of the Allocative Efficiency in Public Firms: the Case of Railway

This paper discusses whether a public firm such as RENFE satisfies the cost minimization condition. Through the estimation of the shadow prices of the production inputs we obtain the grade of the firm’s allocative inefficiency and its origin.