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Single Market effects on productivity in the German insurance industry

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  • Mahlberg, Bernhard
  • Url, Thomas

Abstract

The Single Market project of the European Commission was supposed to foster productivity growth in the financial service industry. We assess its consequences on productivity development in the German insurance industry, one of the largest insurance markets within the European Union, by applying Data Envelopment Analysis to a panel of German insurance companies. We estimate standard and bootstrapped efficiency scores for the years 1991 through 2006 and apply a test on scale efficiency based on bootstrapped statistics. Furthermore, we compute a Malmquist index and test for different types of productivity convergence across firms.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Banking & Finance.

Volume (Year): 34 (2010)
Issue (Month): 7 (July)
Pages: 1540-1548

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Handle: RePEc:eee:jbfina:v:34:y:2010:i:7:p:1540-1548

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Web page: http://www.elsevier.com/locate/jbf

Related research

Keywords: Single Market Bootstrapped data envelopment analysis Productivity growth;

References

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  1. Bernhard Mahlberg & Thomas Url, . "Effects of the Single Market on the Austrian Insurance Industry," WIFO Working Papers 97, WIFO.
  2. Cummins, J. David & Xie, Xiaoying, 2008. "Mergers and acquisitions in the US property-liability insurance industry: Productivity and efficiency effects," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 30-55, January.
  3. Cummins, J. David & Rubio-Misas, Maria, 2006. "Deregulation, Consolidation, and Efficiency: Evidence from the Spanish Insurance Industry," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(2), pages 323-355, March.
  4. R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, vol. 30(9), pages 1078-1092, September.
  5. Simar, Leopold & Wilson, Paul W., 2002. "Non-parametric tests of returns to scale," European Journal of Operational Research, Elsevier, vol. 139(1), pages 115-132, May.
  6. J. David Cummins & Giuseppe Turchetti, 1996. "Productivity and Technical Efficiency in the Italian Insurance Industry," Center for Financial Institutions Working Papers 96-10, Wharton School Center for Financial Institutions, University of Pennsylvania.
  7. Robert J. Barro, 2012. "Inflation and Economic Growth," CEMA Working Papers 568, China Economics and Management Academy, Central University of Finance and Economics.
  8. Fare, Rolf & Shawna Grosskopf & Mary Norris & Zhongyang Zhang, 1994. "Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries," American Economic Review, American Economic Association, vol. 84(1), pages 66-83, March.
  9. Ray, Subhash C & Desli, Evangelia, 1997. "Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries: Comment," American Economic Review, American Economic Association, vol. 87(5), pages 1033-39, December.
  10. SIMAR, Léopold & WILSON, Paul, 1995. "Sensitivity Analysis to Efficiency Scores : How to Bootstrap in Nonparametric Frontier Models," CORE Discussion Papers 1995043, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
  12. Bernhard Mahlberg, 2000. "Technischer Fortschritt und Produktivitätsveränderungen in der deutschen Versicherungswirtschaft," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 220(5), pages 565-591.
  13. Leverty, J. Tyler & Grace, Martin F., 2010. "The robustness of output measures in property-liability insurance efficiency studies," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1510-1524, July.
  14. Weiss, Mary A. & Choi, Byeongyong Paul, 2008. "State regulation and the structure, conduct, efficiency and performance of US auto insurers," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 134-156, January.
  15. Carlos Pestana Barros & Nazar� Barroso & Maria Rosa Borges, 2005. "Evaluating the Efficiency and Productivity of Insurance Companies with a Malmquist Index: A Case Study for Portugal," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 30(2), pages 244-267, April.
  16. SIMAR, Léopold & WILSON, Paul, 1996. "Estimating and bootstrapping malmquist indices," CORE Discussion Papers 1996060, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  17. Fenn, Paul & Vencappa, Dev & Diacon, Stephen & Klumpes, Paul & O'Brien, Chris, 2008. "Market structure and the efficiency of European insurance companies: A stochastic frontier analysis," Journal of Banking & Finance, Elsevier, vol. 32(1), pages 86-100, January.
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Citations

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Cited by:
  1. J.A. Bikker, 2012. "Performance of the life insurance industry under pressure: efficiency, competition and consolidation," Working Papers 12-19, Utrecht School of Economics.
  2. Aleksandra PARTEKA & Joanna WOLSZCZAK-DERLACZ, 2011. "Dynamics of productivity in higher education. Cross-European evidence based on bootstrapped Malmquist indices," Departmental Working Papers 2011-10, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  3. Kao, Chiang & Liu, Shiang-Tai, 2014. "Measuring performance improvement of Taiwanese commercial banks under uncertainty," European Journal of Operational Research, Elsevier, vol. 235(3), pages 755-764.

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