Abstract
Analyses the structure of costs in the cement, lime and plaster industry of India. Using aggregative data for the period 196061 to 198283 a generalised translog cost function is estimated. It is discovered that (1) this industry has been characterised, by and large, by allocative efficiency; (2) production is characterised by increasing returns to scale; (3) technical progress has been biased against the use of capital; and (4) there exist considerable opportunities for substitution between factors of production. Several policy conclusions of the analysis are also examined.
Original language | English |
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Pages (from-to) | 59-67 |
Number of pages | 9 |
Journal | Journal of Economic Studies |
Volume | 18 |
Issue number | 4 |
DOIs | |
Publication status | Published - Apr 1991 |
Externally published | Yes |