Cost Structure of the Indian Cement Industry

Raghbendra Jha, M. Narasimha Murty, Satya Paul, Balbir Sahni

    Research output: Contribution to journalArticle

    Abstract

    Analyses the structure of costs in the cement, lime and plaster industry of India. Using aggregative data for the period 1960‐61 to 1982‐83 a generalised translog cost function is estimated. It is discovered that (1) this industry has been characterised, by and large, by allocative efficiency; (2) production is characterised by increasing returns to scale; (3) technical progress has been biased against the use of capital; and (4) there exist considerable opportunities for substitution between factors of production. Several policy conclusions of the analysis are also examined.
    Original languageEnglish
    Pages (from-to)59-67
    JournalJournal of Economic Studies
    Volume18
    Issue number4
    DOIs
    Publication statusPublished - 1991

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