In this study, we consider the impacts of dramatic regulatory reform during the 1980s on the efficiency of farms in New Zealand, using unbalanced panel data. A translog distance function representing the multiple output and input technology and incorporating nonneutral regulatory impacts is used...

A recent study suggested that output composition rather than technical efficiency changes were the primary result of dramatic regulatory reforms imposed on the New Zealand sheep and beef farming sector in the 1980s. These results raise important questions about the substitutability and cost...