Economic Efficiency Measurement of Guangzhou Airport based on Stochastic Frontier Analysis Model

Abstract

With the continuous development of economic globalization, airport economy has gradually become one of the mainstream forms of global economic development. Airport economy not only plays an important part in optimizing the structure of urban development and economic transformation, but also plays a major role in the rational exploitation of the urban landscape resources and the adjustment of mechanisms’ relationship. However, in the development process of the airport economy, the theoretical scholars and practitioners have not systematically combed through its development efficiency and influencing factors, which leads to the development orientation of the airport economy being out of focus. In this paper, the stochastic frontier analysis model is used to analyze the economic efficiency of Guangzhou Airport. Based on the panel data of Guangzhou Airport, this paper applies the stochastic frontier model of simultaneous equations to analyze the economic efficiency of Guangzhou Airport and its influencing factors. Finally, it is concluded that the construction of airport infrastructure, the regional geographical location, the level of regional economic development, and regional science and technology education all affect the economic efficiency of Guangzhou Airport.