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On the Estimation Stability of Efficiency and Economies of Scale in Microfinance Institutions
(2012)KOF Working PapersThis paper uses a panel data set of microfinance institutions (MFI) across the world to compare several identification strategies of cost efficiency and economies of scale. Concretely, we contrast the non-parametric Data Envelopment Analysis (DEA) with the Stochastic Frontier Analysis (SFA) and a distribution-free identification based on timeinvariant heterogeneity estimates. Furthermore, we analyze differences of production functions ...Working Paper