Total Factor Productivity: The Case of the Beverage Sector in Ecuador
Total factor productivity (TFP) is a variable that measures the efficiency of the factors used in the production process across economic sectors. In other words, it is the basis for economic growth. The paper aimed to estimate the total factor productivity of Ecuador’s beverage sector for the period...
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| Rannpháirtithe: | , , |
| Formáid: | article |
| Teanga: | spa |
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2025
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| Rochtain ar líne: | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/497 |
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Cuir clib leis | Achoimre: | Total factor productivity (TFP) is a variable that measures the efficiency of the factors used in the production process across economic sectors. In other words, it is the basis for economic growth. The paper aimed to estimate the total factor productivity of Ecuador’s beverage sector for the period 2012-2021, taking into account its heterogeneity based on firm size. For this purpose, data from the financial statements of the Superintendency of Companies and Insurance were used, and a Cobb-Douglas-type production function was estimated, with operational revenue as the dependent variable and net fixed assets, number of employees, and raw material consumption as independent variables. To achieve the stated objective, a dynamic GMM-SYS model was employed. The main findings indicated that the input contributing most to sales revenue was net fixed assets. On the other hand, TFP was found to follow a growth pattern consistent with the country’s economic activity. Finally, the results showed that large and medium-sized firms were, on average, more productive than small and micro enterprises during the period analyzed. |
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