رشد بهره وری، تغییر فنی و اقتصاد مقیاس شرکت های تولید سوخت فسیلی کره ای، 2001-2012: یک رویکرد دوگانه

This paper examines total factor productivity (TFP) growth, technical change and economies of scale measure of Korean fossil-fuel power generation companies (GENCOs) between 2001 and 2012. For the empirical investigation, we estimated the cost function along with specification tests in order to find the most appropriate empirical model. Empirical results show TFP deterioration, technical regress, and economies of scale for the study period. The optimal size of the Korean GENCOs was also found, which is employed in developing policies regarding TFP growth and technical advance.