Advanced Stochastic Frontier Analysis for Evaluating Efficiency in Public Sector Expenditure
Keywords:
stochastic frontier analysis, public sector efficiency, expenditure optimization, fiscal policy evaluation, parametric and non-parametric methods, resource allocation, government accountability, data-driven decision-makingAbstract
This study explores the application of advanced stochastic frontier analysis (SFA) within the public sector to assess expenditure efficiency. Utilizing a robust methodological framework combining parametric and non-parametric approaches, we provide nuanced insights into efficiency metrics. Our empirical findings reveal significant inefficiencies in resource allocation, suggesting potential reallocation strategies for optimizing fiscal policies. The study underscores the necessity of integrating SFA in fiscal policy evaluation to enhance governmental accountability and resource utilization.
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