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A Decomposition of Total Factor Productivity Growth in New Zealand ’ s Manufacturing Industries : A Stochastic Frontier Approach

This paper examines the sources of total factor productivity growth (TFP) in New Zealand’s manufacturing industries over the period 1978-98, and over various sub-periods. A stochastic frontier production function has been employed to decompose the sources of output growth into TFP growth and input growth. Examination of the data adopts two stages; the first stage involves the specification and estimation of the stochastic frontier production function and the prediction of technical efficiency effects, under the assumption that these inefficiency effects are identically distributed. The second stage involves the specification of a regression model for the predicted technical efficiency effects. The sources of TFP growth have been decomposed into four components, they are technical progress, changes in technical efficiency, scale effects, and change in allocative efficiency. The analysis takes into consideration New Zealand’s preand post-reform period. The results are presented for nine two-digit manufacturing industries for New Zealand.