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A Post Deregulation Analysis of the Sources of Productivity Growth in UK Building Societies

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  • J. Colin Glass
  • Donal G. McKillop

Abstract

In this study we employ a distance function approach to investigate sources of productivity growth in UK building societies in the post‐deregulation period 1989–93. Productivity growth is decomposed into technical change and change in efficiency, with the latter change also being decomposed into change in pure technical efficiency, change in scale efficiency and change in input congestion. As a scale‐inefficient society may be able to obtain size efficiency gains even when the attainment of scale efficiency is impractical, we also measure the change in size efficiency over the period. The finding of substantial productivity growth was largely due to progressive shifts in technology, with the relatively small improvements in efficiency being largely due to improvements in scale efficiency. A marked increase in the attainment of size efficiency over the period was also found.

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  • J. Colin Glass & Donal G. McKillop, 2000. "A Post Deregulation Analysis of the Sources of Productivity Growth in UK Building Societies," Manchester School, University of Manchester, vol. 68(3), pages 360-385, June.
    • Handle: RePEc:bla:manchs:v:68:y:2000:i:3:p:360-385
    DOI: 10.1111/1467-9957.00199
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    Cited by:

    1. Mad Ithnin Salleh & Shariffah Nur Illiana Syed Ismail & Nurul Fadly Habidin & Nor Azrin Md Latip, 2016. "Efficiency and Productivity Changes of the Malaysian Community Colleges," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 6(12), pages 407-424, December.
    2. Amir Arjomandi & Mad Ithnin Salleh & Abbas Mohammadzadeh, 2015. "Measuring productivity change in higher education: an application of Hicks–Moorsteen total factor productivity index to Malaysian public universities," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 20(4), pages 630-643, October.
    3. Epure, Mircea & Kerstens, Kristiaan & Prior, Diego, 2011. "Technology-based total factor productivity and benchmarking: New proposals and an application," Omega, Elsevier, vol. 39(6), pages 608-619, December.
    4. Andrew C. Worthington, 2010. "Frontier Efficiency Measurement In Deposit‐Taking Financial Mutuals: A Review Of Techniques, Applications, And Future Research Directions," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 81(1), pages 39-75, March.
    5. Arnaud Abad & Rabaozafy Louisa Andriamasy & Walter Briec, 2018. "Surplus measures and luenberger Hicks–Moorsteen productivity indicator," Journal of Economics, Springer, vol. 125(3), pages 279-308, November.
    6. John K. Ashton & Stephen Letza, 2003. "The Differential Returns Offered by Mutually Owned and Proprietary UK Depository Institutions: 1993–2000," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 74(2), pages 183-204, June.
    7. W. Briec & K. Kerstens, 2009. "Infeasibility and Directional Distance Functions with Application to the Determinateness of the Luenberger Productivity Indicator," Journal of Optimization Theory and Applications, Springer, vol. 141(1), pages 55-73, April.
    8. Walter Briec & Kristiaan Kerstens, 2011. "The Hicks–Moorsteen Productivity Index Satisfies The Determinateness Axiom," Manchester School, University of Manchester, vol. 79(4), pages 765-775, July.

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