Container Port Production And Economic

This book analyzes the relationship between ownership, competition and port efficiency by applying traditional theories in industrial organization and examining them empirically. It is the first to conduct comprehensive comparisons of alternative approaches to efficiency measurement for the industry.

Tengfei Wang is Post-Doctoral Research Associate at the School of Marine Science and Technology at the University of Newcastle. Kevin Cullinane is Chair in Marine Transport and Management at the School of Marine Science and Technology at the University of Newcastle. Dong-Wook Song is Assistant Professor at the Centre of Urban Planning and Environmental Management at the University of Hong Kong, China.

List of Tables

xi

List of Figures

xii

Glossary of Symbols and Abbreviations

xiv

Acknowledgements

xvi

Foreword

xvii

1 Introduction

1

(12)

1.1 The importance of the container port industry

1

(1)

1.2 Performance measurement, productivity and efficiency

2

(6)

1.3 Measuring performance in the container port industry

8

(1)

1.4 Problem statement

9

(2)

1.5 Objectives

11

(1)

1.6 Organisation of the book

11

(2)

2 The Economic Theory of Container Port Production

13

(20)

2.1 Introduction

13

(1)

2.2 The economic functions of ports and their evolution

14

(2)

2.3 The container port industry: the challenge of complexity

16

(2)

2.4 The challenge from other market players

18

(3)

2.5 Traditional theories of industrial market structure

21

(1)

2.6 Port competition

22

(10)

2.6.1 Inter-port competition

22

(5)

2.6.2 Intra-port competition

27

(5)

2.7 Summary

32

(1)

3 Alternative Approaches to Efficiency Measurement

33

(44)

3.1 Background

33

(4)

3.2 Notation and symbols used

37

(2)

3.3 Data envelopment analysis

39

(10)

3.3.1 Introduction to DEA

39

(1)

3.3.2 DEA approaches using cross-sectional data

40

(5)

3.3.3 DEA approaches using panel data

45

(4)

3.4 Free disposal hull analysis

49

(2)

3.5 Econometric approaches using cross-sectional data

51

(7)

3.5.1 Deterministic frontier econometric approaches

51

(4)

3.5.2 Stochastic frontier approaches

55

(3)

3.6 Econometric approaches using panel data

58

(3)

3.7 Empirical comparisons of alternative approaches to efficiency estimation

61

(14)

3.8 Performance measurement and efficiency analysis in the container port industry

63

(1)

3.8.1 General performance measurement

63

(3)

3.8.2 Efficiency measurement in the port industry: the DEA approach

66

(3)

3.8.3 Efficiency measurement in the port industry: the SFA approach

69

(3)

3.8.4 Lessons to be learned from applying DEA and SFA to port efficiency measurement

72

(3)

3.9 Summary

75

(2)

4 Model Specification and Data

77

(16)

4.1 Introduction

77

(1)

4.2 A procedure for efficiency measurement

77

(2)

4.3 Port objectives

79

(2)

4.4 Definition of variables

81

(6)

4.5 Model specification

87

(2)

4.6 Data collection

89

(3)

4.7 Summary

92

(1)

5 Empirical Results and Analysis

93

(23)

5.1 Introduction

93

(1)

5.2 Cross-sectional data analysis

93

(10)

5.2.1 Non-parametric frontier estimation: DEA versus FDH

93

(5)

5.2.2 Parametric frontier estimation: COLS versus SFA

98

(4)

5.2.3 Comparison between non-parametric and parametric frontier models using cross-sectional data

102

(1)

5.3 Panel data analysis

103

(10)

5.3.1 DEA panel analysis

103

(3)

5.3.2 Time-invariant efficiency analysis using panel data

106

(3)

5.3.3 Time-varying efficiency analysis using panel data

109

(1)

5.3.4 Comparison between non-parametric and parametric frontier models using panel data

110

(3)

5.4 Summary

113

(3)

6 A Theory of Container Port Production and its Empirical Validation

116

(24)

6.1 Introduction

116

(1)

6.2 Testing the hypotheses

116

(20)

6.3 Summary

136

(4)

7 Conclusions and Further Research

140

(7)

7.1 Introduction

140

(1)

7.2 A summary of major research contributions

140

(4)

7.2.1 Contribution to container port production theory

140

(3)

7.2.2 Contribution to methodological choice in measuring efficiency

143

(1)

7.3 Recommendations for further research

144

(3)

Appendices

147

(24)

Appendix 1 Terminal Efficiency of the CCR, BCC and FDH Models

147

(2)

Appendix 2 Efficiency Yielded from Alternative Parametric Approaches

149

(2)

Appendix 3 DEA-CCR Window Analysis for Container Port Efficiency

151

(7)

Appendix 4 DEA-BCC Window Analysis for Container Port Efficiency

158

(7)

Appendix 5 DEA-CCR Contemporaneous Analysis of Container Port Efficiency

165

(1)

Appendix 6 DEA-BCC Contemporaneous Analysis of Container Port Efficiency

166

(1)

Appendix 7 DEA-CCR Intertemporal Analysis of Container Port Efficiency

167

(1)

Appendix 8 DEA-BCC Intertemporal Analysis of Container Port Efficiency

168

(1)

Appendix 9 Technical-invariant Efficiency Estimated by Alternative Models

169

(1)

Appendix 10 Time-varying Efficiency by MLE

170

(1)

References

171

(12)

Index

183

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Container Port Production And Economic Efficiency

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Table of Contents

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