Deregulation, Intensity of Competition, Industry Evolution, and the Productivity Growth of U.S. Commercial Banks
AbstractWe study the influence of the evolution in intrastate and interstate deregulations on the total factor productivity growth of U.S. commercial banking during 1971-95. We consider statewide deregulations in intrastate branching, intrastate multibank holding company (MBHC), interstate multibank holding company, and interstate MBHC de novo branching regulations. Results indicate that (1) long-standing banking restrictions negatively affected banks' productivity growth, and (2) relaxing restrictions on intrastate branching expansion had a positive long-run influence upon banks' productivity growth. The effect of interstate MBHC deregulations is largely short run, and it is negative in the long run for interstate MBHC de novo branching deregulations.
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Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 37 (2005)
Issue (Month): 2 (April)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
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- Yongil Jeon & Stephen M. Miller, 2005.
"An 'Ideal' Decomposition of Industry Dynamics: An Application to the Nationwide and State Level U.S. Banking Industry,"
2005-25, University of Connecticut, Department of Economics.
- Yongil Jeon & Stephen M. Miller, 2002. "An 'Ideal' Deconposition of Industry Dynamics: An Application to the Nationwide and State Level U.S. Banking Industry," Working papers 2002-23, University of Connecticut, Department of Economics.
- Kraft, Evan & Galac, Tomislav, 2007. "Deposit interest rates, asset risk and bank failure in Croatia," Journal of Financial Stability, Elsevier, vol. 2(4), pages 312-336, March.
- Isil Erol & Dogan Tirtiroglu, 2011. "Concentrated Ownership, No Dividend Payout Requirement and Capital Structure of REITs: Evidence from Turkey," The Journal of Real Estate Finance and Economics, Springer, vol. 43(1), pages 174-204, July.
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