Loughborough University
Leicestershire, UK
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Loughborough University

School of Business and Economics


Efficiency and Productivity Analysis Research Interest Group (EPA-RIG)

LeaderDavid Saal, Professor of Microeconomics

  • About Us
  • Members
  • Past Activities
  • Current Activities

The research interest group in efficiency and productivity analysis comprises academic researchers and research students working on the theory and applications of econometric analysis and mathematical programming models for measuring the relative economic performance of firms and businesses, including banks, government agencies, public bodies such as hospitals and schools,  social organisations and whole economies. 

The analytical techniques known as  data envelopment analysis (which uses mathematical programming) and  stochastic frontier analysis (which uses regression analysis) are used to construct relative efficient performance frontiers from performance data on outputs, inputs, costs, revenues and profits assembled for samples of firms, organisations, institutions and economic agents of different kinds that are pursuing similar activities. It is widely used in benchmarking analysis and economic and social regulation of a wide range of business, economic and social organisations. It can be used to measure the effectiveness of policy initiatives for innovation. A major challenge is the careful analysis of what constitutes the outputs of different organizations and institutions, especially where these are operating in non-commercial markets. 

Recent work for example has drawn on Professor Weyman-Jones’s role as the accredited consultants’ economic advisor to UK and German regulators: OFGEM and BundesNetzAgentur, the research led the implementation of panel data stochastic frontier analysis for benchmarking of transmission and distribution networks. In other work, Professor Baibing Li, Dr Hailin Liao and their research student Bin Wang (now at the World Bank) investigated how the performance of US industry changed as the revolution in ICT evolved. Drs Karligash Glass and Tony Glass working with Professor Robin Sickles analysed the how the productivity performance of EU economies is affected by economic integration amongst neighbouring economies. A wide range of applications ranging from the relative performance of investment funds, banks and financial institutions, all the way through to police services and regulated industries, has been carried out and is on-going. Numerous publications and conference papers have disseminated the group’s work around the world. Two members of the group are among the editors of the most significant journal in the field: Journal of Productivity Analysis.

As well as supporting current researchers in efficiency and productivity analysis, the aims of the EPA-RIG include mentoring and encouraging growth in membership of academics, particularly young researchers new to efficiency and productivity analysis in this expanding field which has increasing theoretical and empirical impact

  • Anthony Glass – Lecturer and Director of Postgraduate Research [Economics]
  • Karligash Glass – Lecturer
  • Adrian Gourlay – Lecturer
  • Baibing Li – Professor
  • Robin Sickles – Professor at Rice University Houston USA and Visiting Professor at the School
  • Kai-Hong Tee – Senior Lecturer in Finance
  • Tom Weyman-Jones – Professor of Industrial Economics
  • Justine Wood – Lecturer
  • Morakinyo Adetutu – PhD Student
  • Tim Burrows – PhD Student
  • James Carroll – PhD Student
  • Shibo Liu – PhD Student
  • Anh Vu – PhD Student
  • Zeyi Yu – PhD Student

Below is a list of recent research activities, for example publications and advice to regulators:

  1. Tom Weyman-Jones (Economic Advisor) Frontier Economics: Total cost benchmarking at RIIO-ED1 – Volumes 1 and 2, Report to Ofgem UK Office of Gas and Electricity Markets, May 2013
  2. Boucinha, Miguel, Nuno Ribeiro, and Tom Weyman-Jones. “An assessment of Portuguese banks’ efficiency and productivity towards euro area participation.” Journal of Productivity Analysis (2013): 1-14.
  3. Fethi, Meryem Duygun, Mohamed Shaban, and Tom Weyman-Jones. “Turkish Banking Recapitalization and the Financial Crisis: An Efficiency and Productivity Analysis.” Emerging Markets Finance and Trade , 48 (2012): 76-90
  • 26 June 2014: 3rd International Workshop on 'Measuring Banking Performance', School of Business and Economics
  • 9th July 2013: International Workshop and the Launch of the Efficiency and Productivity Research Interest Group: ‘Measuring Economic Performance: Theory and Practice’


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