Stochastic frontier analysis of total factor productivity in the offshore oil and gas industry
Stochastic frontier analysis of total factor productivity in the offshore oil and gas industry
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DOI：
10.1016/j.ecolecon.2005.11.028
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发表时间：
2006-11
影响因子：
7
通讯作者：
Shunsuke Managi;J. Opaluch;D. Jin;T. Grigalunas
中科院分区：
文献类型：
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作者：
Shunsuke Managi;J. Opaluch;D. Jin;T. Grigalunas
我们考察了过去50年来技术变革对墨西哥湾石油和天然气勘探、开发和生产的影响。我们使用一个涵盖1947至1998年的独特的现场数据集来分析技术变化对生产前沿的影响。然后，我们对1976年至1995年该行业在区域层面上的全要素生产率(TFP)增长进行了估计。为了解决海洋资源行业的独特特点，我们在模型中包括了一些关键的地质变量，如水深和油田大小。此外，研究结果表明，环境监管对近海生产产生了显著的负面影响，尽管这种影响随着时间的推移一直在减弱。
We examine the impact of technological change on oil and gas exploration, development and production in the Gulf of Mexico over the past five decades. We analyze the effect of technological change on the production frontier using a unique field-level data set covering 1947 through 1998. We then develop estimates of the growth in total factor productivity (TFP) in the industry at the regional level from 1976 to 1995. To address the unique features of this marine resource industry, we include in our models some key geological variables such as water depth and field size. In addition, the results reveal that environmental regulation had a significantly negative impact on offshore production, although such impact has been diminishing over time.