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The Evolution of Bulgarian Banks' Efficiency During the Twenties: A Dea Approach

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Author Info

  • Nikolay Nenovsky

    ()
    (Bulgarian National Bank, University of Orleans and ICER)

  • Martin Ivanov

    (Institute of History, Sofia)

  • Gergana Mihaylova

    (Agency for Economic Analysis and Forecasting, Sofia)

Abstract

This paper studies the dynamics of the bank efficiency in Bulgaria in the years 1923 and 1928. In the course of research several interdependencies were detected, related mainly to the reaction of different types of banks to the financial crisis and the financial stabilization. Official bank balance sheets were used as well as the profit and loss statements of 50 Bulgarian credit institutions. After their classification into subgroups different variations of DEA (data envelopment analysis), in particular the intermediation approach, were applied to the banks’ financial positions. The DEA overcomes several deficiencies in the traditional accounting measurement of bank efficiency, which has made it very popular in latest literature. To our knowledge this method has not been applied so far to historical data.

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Bibliographic Info

Paper provided by Bank of Greece in its series Working Papers with number 82.

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Length: 44 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:bog:wpaper:82

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Keywords: Bulgarian monetary history; Banking system; Âanking efficiency; DEA modelling.;

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References

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  1. Malgorzata Pawlowska, 2005. "Competition, Concentration, Efficiency, and their Relationship in the Polish Banking Sector," National Bank of Poland Working Papers, National Bank of Poland, Economic Institute 32, National Bank of Poland, Economic Institute.
  2. Battilossi, Stefano, 2006. "The determinants of multinational banking during the first globalisation 1880 1914," European Review of Economic History, Cambridge University Press, Cambridge University Press, vol. 10(03), pages 361-388, December.
  3. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, Elsevier, vol. 2(6), pages 429-444, November.
  4. Kalina Dimitrova & Nikolay Nenovsky, 2006. "Exchange Rate and Inflation: France and Bulgaria in the Interwar Period," ICER Working Papers, ICER - International Centre for Economic Research 34-2006, ICER - International Centre for Economic Research.
  5. Allen N. Berger & David B. Humphrey, 1997. "Efficiency of Financial Institutions: International Survey and Directions for Future Research," Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania 97-05, Wharton School Center for Financial Institutions, University of Pennsylvania.
  6. Elena Loukoianova, 2008. "Analysis of the Efficiency and Profitability of the Japanese Banking System," IMF Working Papers 08/63, International Monetary Fund.
  7. David A Grigorian & Vlad Manole, 2006. "Determinants of Commercial Bank Performance in Transition: An Application of Data Envelopment Analysis," Comparative Economic Studies, Palgrave Macmillan, vol. 48(3), pages 497-522, September.
  8. Roman Matoušek & Anita Taci, 2004. "Efficiency in Banking: Empirical Evidence from the Czech Republic," Economic Change and Restructuring, Springer, Springer, vol. 37(3), pages 225-244, 09.
  9. Ignacio Briones & André Villela, 2006. "European Banks and their Impact on the Banking Industry in Chile," Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) 108, Oesterreichische Nationalbank (Austrian Central Bank).
  10. Nikolay Nenovsky & Petar Chobanov & Gergana Mihaylova & Darina Koleva, 2008. "Efficiency of the Bulgarian Banking System: Traditional Approach and Data Envelopment Analysis," Working paper series 12008en, Agency for Economic Analysis and Forecasting.
  11. Koetter, Michael & Karmann, Alexander & Fiorentino, Elisabetta, 2006. "The cost efficiency of German banks: a comparison of SFA and DEA," Discussion Paper Series 2: Banking and Financial Studies 2006,10, Deutsche Bundesbank, Research Centre.
  12. David A. Grigorian & Vlad Manole, 2002. "Determinants of Commercial Bank Performance in Transition," IMF Working Papers 02/146, International Monetary Fund.
  13. Elisa Luciano & Luca Regis, 2007. "Bank Efficiency and Banking Sector Development: the Case of Italy," ICER Working Papers - Applied Mathematics Series, ICER - International Centre for Economic Research 5-2007, ICER - International Centre for Economic Research.
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Cited by:
  1. Dimitrios Sideris, 2011. "Optimum currency areas, structural changes and the endogeneity of the OCA criteria: evidence from six new EU member states," Applied Financial Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 21(4), pages 195-206.
  2. Milan Sojic & Ljiljana Djurdjevic, 2008. "Monetary Policy Objectives and Istruments used by the Privileged National Bank of the Kingdom of Serbia (1884 - 1914)," Working Papers, Bank of Greece 87, Bank of Greece.
  3. Yuksel Gormez, 2008. "Banking in Turkey: History and Evolution," Working Papers, Bank of Greece 83, Bank of Greece.
  4. Sophia Lazaretou, 2008. "Banking and Central Banking in Pre-WWII Grecce: Money and Currency Developments," Working Papers, Bank of Greece 86, Bank of Greece.

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