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PRODUCTION FUNCTIONS OF GAS PRODUCTION INDUSTRY OF TYUMEN REGION AND SUBSIDIARIES OF OJSC GAZPROM IN 1993-2007.

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PII
S042473880000616-6-1
DOI
10.31857/S0000616-6-1
Publication type
Article
Status
Published
Authors
Anton Afanasiev
Volume/ Edition
Volume / Issue №2
Pages
37-53
Abstract
The production functions of the entire natural gas production industry in Tyumen region as well as of Gazprom subsidiaries within this area during 1993–2007 were the subject of this econometric study. It has been ascertained that the labor elasticity of Gazprom subsidiaries’ gas production is equal to the average (within this period) wage share with accrued items in subsidiaries’ gas production costs and, therefore, the marginal rate of substitution between labor and capital is equal to their price ratio. On these grounds we can state the Pareto%efficient use of resources and cost minimization by Gazprom subsidiaries, and it would be inefficient (caeteris paribus) to divide Gazprom into independent gas production companies in Tyumen region.
Keywords
-
Date of publication
01.04.2009
Number of purchasers
0
Views
865

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