TABLE 4

FROM:

Decomposing Growth in Portuguese Seaports: A Frontier Cost Approach

Carlos Pestana Barros

Table 4. Stochastic translog panel cost frontier (dependent variable log of total cost)

Variables	Coefficients (t-ratio)	t-ratio
Constant	-0.0035	-0.928
Trend	-0.265	-0.274
Log(P L)	0.0011	1.269**
Log(P K)	0.277	0.2315
Log (ship)	1.640	0.7605
Log(Cargo)	-1.392	1.392**
1/2Trend2	0.0365	1.600**
1/2Log(P L)2	-1.324	-1.181**
1/2Log(P K)2	0.0140	0.367
1/2Log(ship)2	0.0711	1.153**
1/2Log(cargo)2	0.0423	0.975
Log(P L)*trend	-0.00165	-0.013
Log(P K)*trend	0.0044	0.200
Log (ship)*trend	0.0295	0.748
Log(cargo)*trend	-0.0147	-0.582
Log(P L)*log(P K)	-0.1050	-0.609
Log(P L)*log(Ship)	-0.2304	-0.781
Log(P L)*log(Cargo)	0.1458	0.874
Log(P K)*log(Ship)	0.0958	2.288**
Log(P K)*log(Cargo)	-0.0167	-0.502
Log(ship)*log(Cargo)	-0.0223	-0.455
2= V 2+ U 2	2.551	1.675**
= U 2/ 2	0.9239	19.329**
Log(likelihood)	-84.146
LR	16.539
Observations	110

  t-Statistics in parentheses are below the parameters, those followed by ^* are significant at 1% level and those with ^** are significant at 5% level.