Although environmental regulations may imply a cost increase on firm's conventional input factors, such regulations could stimulate the incentives to improve factor productivity. Productivity measures including indicators capturing environmental improvements may also show higher or lower...

Productivity measures ignoring environmental effects may give misleading information on total productivity growth. Further, business cycles in the form of capacity utilization may significantly influence productivity measures. We develop an overall Malmquist productivity index and decompose...

In many countries hydropower constitutes a large share of the electricity producing capacity. In the earlier regulated electricity markets, production capacities exceeded demand due to security of supply concerns. The present deregulated markets base investments upon profitability alone, and...