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Journal of Social Economics Research

June 2019, Volume 6, 2, pp 97-105

Estimating the Economic Determinants of Technical Efficiency of Bioenergy in EU-28: An Application of Tobit Analysis

Mohd Alsaleh

,

A.S. Abdul-Rahim

Mohd Alsaleh 1 ,

A.S. Abdul-Rahim 1 
  1. Faculty of Economics and Management, Universiti Putra Malaysia, 43400 UPM Serdang, Selangor, Malaysia. 1

Pages: 97-105

DOI: 10.18488/journal.35.2019.62.97.105

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Article History:

Received: 25 February, 2019
Revised: 10 April, 2019
Accepted: 17 May, 2019
Published: 23 July, 2019


Abstract:

This study identified the effects of economic factors on technical efficiency (TE) rate in the bio-energy section for the European Union zone (EU-28). A Tobit framework estimation was used to investigate the economic factors of TE rate in the bio-energy sector for the EU-28 zone during the period among 1990 through 2013. The findings point that economic determinants have a significant impact on TE rate of the bio-energy sector in the EU-28 countries. The empirical findings suggest that labor input and gross domestic product (GDP) significantly affected the TE of the bio-energy sector in the EU-28 zone through the duration of this paper. The results obviously inviting governors and politicians to investigate the TE rate of the bio-energy sector within the EU-28 zone. This paper gives further facts and details to the senates of the bio-energy sectors, as they require to get a further comprehension of the impact TE has on bio-energy production execution. In addition, the findings of this paper have suggestions for financiers who concentrates significantly on revenues from their direct-investments.
Contribution/ Originality
This study contributes to the existing literature in investigating the TE of the bioenergy industry in the EU-28 region. This study uses new estimation methodologies such as the Data Envelopment Analysis (DEA) and the Tobit Model to investigate the impact of economic determinants on the TE of the bioenergy industry in the EU28 region during the period between 1990 and 2013.

Keywords:

Bioenergy industry, Technical efficiency, Capital input, Labour input, Gross domestic product, Real interest rate, EU-28 region.

Reference:


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Funding:

This study received no specific financial support.

Competing Interests:

The authors declare that they have no competing interests.

Acknowledgement:

Both authors contributed equally to the conception and design of the study.

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