Greene (2002, 2004) examines several extensions of the panel stochastic frontier models including what he calls the “true†fixed and random effect stochastic frontier models. In this paper we extend these two models to their semiparametric alternatives where the functional form for...

In this paper, we are interested in a stochastic frontier model in which observable characteristics of the firms affect their levels of technical inefficiency. Let u ≥ 0 be the one-sided error reflecting technical inefficiency, and let z be a set of variables that affect u. We write u as...

This paper presents both the time-series and cross-country evidence on the growth of global equity markets and attempts to shed some light on the sources of equity market growth. Using data on 33 countries, I find that development of financial intermediaries and openness to trade are positively...