“…The above measure is actually the geometric mean of two Caves et al (1982) Malmquist productivity indexes. Fare et al (1992) define that M I > 1 indicates productivity gain; M I < 1 indicates productivity loss; and M I = 1 means no change in productivity from time t to s. Relaxing Caves et al (1982) assumption that D t I (y t , x t ) and D s I (y t , x t ) should equal to one, and allowing for technical inefficiency, Fare et al (1992) decompose their Malmquist productivity index into two components: Fare et al (1992Fare et al ( , 1994 point out that a value of TCC > 1 indicates a positive shift or technical progress, a value of TCC < 1 indicates a negative shift or technical regress, and value of TCC = 1 indicates no shift in technology frontier. In this paper we use the decomposition of Malmquist index into two components, namely technological change…”