PETROLEUM REFINING INDUSTRY: AN ASSESSMENT OF ITS PRODUCTION STRUCTURE
Cost structure of petroleum refining industry in Kuwait has been examined, with specific focus on factor substitution, and economies of scale and utilisation. This has been done by estimating translog cost functions, both long‐run and short‐run, using annual time‐series data covering the period from...
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| Veröffentlicht in: | Australian economic papers 2006-03, Vol.45 (1), p.75-88 |
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| container_title | Australian economic papers |
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| creator | MOHAMMED, OTHMAN E. BURNEY, NADEEM A. |
| description | Cost structure of petroleum refining industry in Kuwait has been examined, with specific focus on factor substitution, and economies of scale and utilisation. This has been done by estimating translog cost functions, both long‐run and short‐run, using annual time‐series data covering the period from 1976 to 1998. The results indicate that the implied production structure is non‐homothetic, and the pattern of scale effect is labour and capital saving but material using. The evidence also supports presence of induced exogenous technical change, which is non‐neutral (labour and capital using, and material saving). The elasticity of substitution between capital and labour is negative, implying that the two inputs are complements. The results also indicate absence of economies and diseconomies of scale in the petroleum refining industry. |
| doi_str_mv | 10.1111/j.1467-8454.2006.00278.x |
| format | Article |
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The results also indicate absence of economies and diseconomies of scale in the petroleum refining industry.</description><subject>Business studies</subject><subject>Capital</subject><subject>Cost analysis</subject><subject>Data analysis</subject><subject>Economies of scale</subject><subject>Industrial economics</subject><subject>Kuwait</subject><subject>Labor supply</subject><subject>Oil industry</subject><subject>Petroleum</subject><subject>Petroleum refineries</subject><subject>Production management</subject><subject>Studies</subject><subject>Time series</subject><issn>0004-900X</issn><issn>1467-8454</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2006</creationdate><recordtype>article</recordtype><recordid>eNqNkD1PwzAQhi0EEqXwHywGtgQ7jmMHiSGUpERqkyofAqaTSR2ppdASU1H-PQ5FDEzc4jv5fSzfgxCmxKW2Lpcu9QPhSJ_7rkdI4BLiCenuDtDg9-IQDQghvhMS8nCMToxZ2pFzxgcomcVVkU_ieoqLOEmzNBvjNLuty6p4vMJRhqOyjMtyGmcVzhOcViWeFfltParSPMM2Zbu6iE_RUatWRp_9nENUJ3E1unMm-TgdRROnYTSQTqNJ4M1J66mwFWIuuWpVwEkoFfepeGKNVpQy1XDmPc2bkPlaNExQrYgmnhaaDdHF_t1Nt37bavMOLwvT6NVKver11gAL7Fp9DdH5n-Byve1e7d_AY4EvqZTShuQ-1HRrYzrdwqZbvKjuEyiB3i4soZcIvUTo7cK3XdhZ9HqPfixW-vPfHETxLLKd5Z09vzDvevfLq-4ZAsEEh_tsDNMwKe7YTQKUfQHHa4id</recordid><startdate>200603</startdate><enddate>200603</enddate><creator>MOHAMMED, OTHMAN E.</creator><creator>BURNEY, NADEEM A.</creator><general>Blackwell Publishing Asia</general><general>Blackwell Publishing Ltd</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>200603</creationdate><title>PETROLEUM REFINING INDUSTRY: AN ASSESSMENT OF ITS PRODUCTION STRUCTURE</title><author>MOHAMMED, OTHMAN E. ; BURNEY, NADEEM A.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c3168-ce062d0f2a9f77d85afa65098a5417b3cea113ac532bdc934e7c371ea0e02e7e3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2006</creationdate><topic>Business studies</topic><topic>Capital</topic><topic>Cost analysis</topic><topic>Data analysis</topic><topic>Economies of scale</topic><topic>Industrial economics</topic><topic>Kuwait</topic><topic>Labor supply</topic><topic>Oil industry</topic><topic>Petroleum</topic><topic>Petroleum refineries</topic><topic>Production management</topic><topic>Studies</topic><topic>Time series</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>MOHAMMED, OTHMAN E.</creatorcontrib><creatorcontrib>BURNEY, NADEEM A.</creatorcontrib><collection>Istex</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Australian economic papers</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>MOHAMMED, OTHMAN E.</au><au>BURNEY, NADEEM A.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>PETROLEUM REFINING INDUSTRY: AN ASSESSMENT OF ITS PRODUCTION STRUCTURE</atitle><jtitle>Australian economic papers</jtitle><date>2006-03</date><risdate>2006</risdate><volume>45</volume><issue>1</issue><spage>75</spage><epage>88</epage><pages>75-88</pages><issn>0004-900X</issn><eissn>1467-8454</eissn><abstract>Cost structure of petroleum refining industry in Kuwait has been examined, with specific focus on factor substitution, and economies of scale and utilisation. 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| fulltext | fulltext |
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| ispartof | Australian economic papers, 2006-03, Vol.45 (1), p.75-88 |
| issn | 0004-900X 1467-8454 |
| language | eng |
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| source | Wiley Online Library Journals Frontfile Complete; EBSCOhost Business Source Complete |
| subjects | Business studies Capital Cost analysis Data analysis Economies of scale Industrial economics Kuwait Labor supply Oil industry Petroleum Petroleum refineries Production management Studies Time series |
| title | PETROLEUM REFINING INDUSTRY: AN ASSESSMENT OF ITS PRODUCTION STRUCTURE |
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