Cost Efficiency and Cost Productivity of TEVETA Institutes of Punjab, Pakistan: A Non-Parametric Analysis
Keywords:Cost Malmquist Index Productivity, Data Envelopment Analysis (DEA), Efficiency, Resource Allocation, TEVETA Institutes
This research paper investigates the cost efficiency and cost productivity of TEVETA institutes in Punjab, Pakistan using Data Envelopment Analysis (DEA) and COST MALMQUIST INDEX. The study uses data from 2006-2018 to analyze the impact of TEVETA reform 2011. The objective of the study is to assess the impact of the reform on productivity and efficiency of the production process. The results of the study indicate that the reforms implemented in Punjab have had a positive impact on productivity. The efficiency change, scale efficiency change, and technical change have all increased after the reforms, indicating an improvement in the overall productivity of the production process. However, the Malmquist Productivity Index has decreased slightly after the reforms, indicating a decrease in productivity. The study recommends that there is still room for improvement in resource allocation and the use of technology in the production process. The decline in allocative efficiency change suggests that resources were not allocated as efficiently as before, and the increase in the price change indicates a slight increase in the price of production inputs.
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