AN ECONOMETRIC APPROACH TO MEASURING EFFICIENCY: THE THEORETICAL ASPECT OF THE STUDY

The main approaches to efficiency measurement recognized as world science and practice are considered. On the basis of this or that concept of efficiency measurement the characteristic of coefficient and econometric approaches is given. Comprehending econometric approach, authors decomposed efficiency on two complementary components – technological and allokative efficiency which descriptions are presented in article. Considering possibility of existence of limit of efficiency, authors investigate the boundary analysis and not boundary analysis from positions of advantages and shortcomings of their application. For specification of features of the boundary analysis they study nonparametric and parametrical approaches, and also the stochastic and determined approaches. It is shown that not boundary analysis rejects a hypothesis of existence of achievable limit of efficiency and is based on the assumption that there is a certain “average” condition of the enterprise corresponding to the current level of production under the operating external conditions, management level and so forth the deviation from which in the direction of its improvement is characteristic for more effective enterprises, and in the direction of deterioration – for less effective enterprises. Within not boundary analysis the indexes allowing to compare the enterprises for efficiency, in particular, indexes of Tornquist, Malmkvist, Paasche, Laysperes, and methods of regression analysis are widely used. Article is written with extensive application of economic-mathematical approaches to the writing of intrinsic characteristics of the analyzed efficiency assessment methods.