Regulatory reforms and productivity: An empirical analysis of the Japanese electricity industry

Arellano, 1991, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, Review of Economic Studies, 58, 277, 10.2307/2297968 Arellano, 1995, Another look at the instrumental variable estimation of error-components models, Journal of Econometrics, 68, 29, 10.1016/0304-4076(94)01642-D Balk, 1998 Banker, 1984, Some models for estimating technical and scale inefficiencies in data envelopment analysis, Management Science, 30, 1078, 10.1287/mnsc.30.9.1078 Blundell, 1998, Initial conditions and moment restrictions in dynamic panel data models, Journal of Econometrics, 87, 115, 10.1016/S0304-4076(98)00009-8 Boussemart, 2003, Luenberger and Malmquist productivity indices: theoretical comparisons and empirical illustration, Bulletin of Economic Research, 55, 391, 10.1111/1467-8586.00183 Briec, 2004, A Luenberger–Hicks–Moorsteen productivity indicator: its relation to the Hicks–Moorsteen productivity index and the Luenberger productivity indicator, Economic Theory, 23, 925, 10.1007/s00199-003-0403-2 Caves, 1982, The economic theory of index numbers and the measurement of input, output, and productivity, Econometrica, 50, 1393, 10.2307/1913388 Chambers, 1996, Aggregate productivity measures, American Journal of Agricultural Economics, 78, 1360, 10.2307/1243522 Chambers, 1996, Productivity growth in APEC countries, Pacific Economic Review, 1, 181, 10.1111/j.1468-0106.1996.tb00184.x Chambers, 1998, Profit, directional distance functions, and Nerlovian efficiency, Journal of Optimization Theory and Applications, 98, 351, 10.1023/A:1022637501082 Charnes, 1978, Measuring the efficiency of decision making units, European Journal of Operational Research, 2, 429, 10.1016/0377-2217(78)90138-8 Chen, 2002, An assessment of technical efficiency and cross-efficiency in Taiwan's electricity distribution sector, European Journal of Operational Research, 137, 421, 10.1016/S0377-2217(01)00101-1 Doornik, 2002 Doornik, J.A., Arellano, M., Bond, S., 2006. Panel Data Estimation using DPD for Ox. Economics Discussion Paper, Nuffield College, Oxford University. Färe, 1995 Färe, 1994, Productivity growth, technical progress, and efficiency change in industrialized countries, The American Economic Review, 84, 66 Førsund, 1998, Productivity development of Norwegian electricity distribution utilities, Resource and Energy Economics, 20, 207, 10.1016/S0928-7655(97)00028-6 Goto, 1998, Comparison of productive and cost efficiencies among Japanese and US electric utilities, Omega, 26, 177, 10.1016/S0305-0483(97)00073-X Hansen, 1982, Large sample properties of generalized method of moments estimators, Econometrica, 50, 1029, 10.2307/1912775 Hattori, 2002, Relative performance of U.S. and Japanese electricity distribution: an application of stochastic frontier analysis, Journal of Productivity Analysis, 18, 269, 10.1023/A:1020695709797 Hattori, 2005, Electricity distribution in the UK and Japan: a comparative efficiency analysis 1985–1998, The Energy Journal, 26, 23, 10.5547/ISSN0195-6574-EJ-Vol26-No2-2 Ida, T., Ito, E., Kinoshita, S., 2007. Post-regulatory reform productivity gains in Japan's electricity industry. Applied Economics Letters, forthcoming. Jamasb, 2001, Benchmarking and regulation: international electricity experience, Utilities Policy, 9, 107, 10.1016/S0957-1787(01)00010-8 Jamasb, 2003, International benchmarking and regulation: an application to European electricity distribution utilities, Energy Policy, 31, 1609, 10.1016/S0301-4215(02)00226-4 Kainou, K., 2005. Quantitative impact analysis of policy changes on electricity and gas industries. RIETI Discussion Paper Series 05-J-034 (in Japanese). Korhonen, 2003, Evaluation of cost efficiency in Finnish electricity distribution, Annals of Operations Research, 121, 105, 10.1023/A:1023355202795 Luenberger, 1992, Benefit functions and duality, Journal of Mathematical Economics, 21, 461, 10.1016/0304-4068(92)90035-6 Luenberger, 1992, New optimality principles for economic efficiency and equilibrium, Journal of Optimization Theory and Applications, 75, 221, 10.1007/BF00941466 Majumdar, 2001, Rules versus discretion: the productivity consequences of flexible regulation, Academy of Management Journal, 44, 170, 10.2307/3069344 Managi, 2007 Nambu, 2000, The liberalization of the Japanese electric power industry, 75 Nemoto, 2003, Measurement of dynamic efficiency in production: an application of data envelopment analysis to Japanese electric utilities, Journal of Productivity Analysis, 19, 191, 10.1023/A:1022805500570 Nemoto, 2006, Measurement of technical and allocative efficiencies using a CES cost frontier: a benchmarking study of Japanese transmission–distribution electricity, Empirical Economics, 31, 31, 10.1007/s00181-005-0013-x Pacudan, 2002, Impact of energy efficiency policy to productive efficiency of electricity distribution industry in the Philippines, Energy Economics, 24, 41, 10.1016/S0140-9883(01)00085-8 Pombo, 2006, Performance and efficiency in Colombia's power distribution system: effects of the 1994 reform, Energy Economics, 28, 339, 10.1016/j.eneco.2005.08.001 Pahwa, 2003, Performance evaluation of electric distribution utilities based on data envelopment analysis, IEEE Transactions on Power Systems, 18, 400, 10.1109/TPWRS.2002.800986 Simar, 2007, Estimation and inference in two-stage, semi-parametric models of production processes, Journal of Econometrics, 136, 31, 10.1016/j.jeconom.2005.07.009 Sueyoshi, 1999, Tariff structure of Japanese electric power companies: an empirical analysis using DEA, European Journal of Operational Research, 118, 350, 10.1016/S0377-2217(98)00313-0 Sueyoshi, 2001, Slack-adjusted DEA for time series analysis: performance measurement of Japanese electric power generation industry in 1984–1993, European Journal of Operational Research, 133, 232, 10.1016/S0377-2217(00)00295-2 Tobin, 1958, Estimation of relationships for limited dependent variables, Econometrica, 26, 24, 10.2307/1907382 Vaninsky, 2006, Efficiency of electric power generation in the United States: analysis and forecast based on data envelopment analysis, Energy Economics, 28, 326, 10.1016/j.eneco.2006.02.007 Windmeijer, 2005, A finite sample correction for the variance of linear efficient two-step GMM estimators, Journal of Econometrics, 126, 25, 10.1016/j.jeconom.2004.02.005 Zhengfei, 2006, The source of productivity growth in Dutch agriculture: a perspective from finance, American Journal of Agricultural Economics, 88, 644, 10.1111/j.1467-8276.2006.00885.x