Total factor productivity measures for Hong Kong telephone
نویسندگان
چکیده
Since the early 1960s, the Hong Kong Telephone Company (HKTC)—the dominant firm in Hong Kong’s local telephone market—has undergone several regulatory reforms. The company has been subject to price control, rate-of-return regulation and price-cap regulation. This paper estimates the total factor productivity (TFP) growth of HKTC. The empirical results show that the estimated TFP growth of HKTC was 2.31–3.56% per year between 1964 and 1998. TFP growth varied substantially under different regulatory regimes, and the importance of the scale effect relative to the technological effect diminished over time. r 2005 Elsevier Ltd. All rights reserved.
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