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Productividad, competencia e innovación en la banca privada española (1900–1914)

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  • Cuadras-Morató, Xavier
  • Castro, Ángel S. Fernández
  • Rosés, Joan R.

Abstract

This study investigates the productivity differences and its sources across a set of banks during the last years of the liberal era of the Spanish banking system (1900-1914). These years were characterised by major qualitative and quantitative changes in the banking industry including a sharp increase in the size of the system, in the number of firms, and in its regional distribution. Employing DEA productivity analysis and the Malmquist index, we discover that these changes were accompanied by a generalised increase in the efficiency of least productive banks. Also, we observe that the crisis of some regional banking groups, like the Catalan, can be linked with its low productivity levels. In consequence, in the light of our productivity evidence, we conclude that the increase in competition was beneficial for the system because helped to the success of the most efficient banks.

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Bibliographic Info

Article provided by Cambridge University Press in its journal Revista de Historia Económica.

Volume (Year): 20 (2002)
Issue (Month): 03 (December)
Pages: 543-575

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Handle: RePEc:cup:reveco:v:20:y:2002:i:03:p:543-575_01

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  1. repec:fth:harver:1487 is not listed on IDEAS
  2. Aly, Hassan Y, et al, 1990. "Technical, Scale, and Allocative Efficiencies in U.S. Banking: An Empirical Investigation," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 211-18, May.
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  4. Bjurek, Hans, 1996. " The Malmquist Total Factor Productivity Index," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(2), pages 303-13, June.
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  6. Miller, Stephen M. & Noulas, Athanasios G., 1996. "The technical efficiency of large bank production," Journal of Banking & Finance, Elsevier, vol. 20(3), pages 495-509, April.
  7. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity," Econometrica, Econometric Society, vol. 50(6), pages 1393-1414, November.
  8. José Manuel Pastor Monsálvez, 1995. "Eficiencia, Cambio Productivo Y Cambio Técnico En Los Bancos Y Cajas De Ahorro Españolas: Un Análisis Frontera No Paramétrico," Working Papers. Serie EC 1995-09, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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  13. Berg, Sigbjorn Atle & Forsund, Finn R. & Hjalmarsson, Lennart & Suominen, Matti, 1993. "Banking efficiency in the Nordic countries," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 371-388, April.
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