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Banking sector output and labour productivity in six European countries

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  • Mörttinen, Leena

    (Bank of Finland Research)

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    Abstract

    This paper contributes to the discussion on the measurement of banking sector output. It is also a prelude to discussion on possible causes of productivity change in banking. We demonstrate how the banking sector’s service production can be measured using aggregate financial statement and payment transactions data. We compute banking sector labour productivity Tornqvist indices for six countries (Finland, Sweden, United Kingdom, Germany, France and Italy) over a period varying from 11 to 20 years. According to the results, Finnish banking sector productivity has improved via a substantial reduction size of labour force, whereas output growth has been rather modest. Although in most of the other countries the restructuring process has been less intense, most of the sectors studied have improved in terms of overall output and labour productivity, especially since the mid-1990s.

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    File URL: http://www.suomenpankki.fi/en/julkaisut/tutkimukset/keskustelualoitteet/Documents/0212.pdf
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    Bibliographic Info

    Paper provided by Bank of Finland in its series Research Discussion Papers with number 12/2002.

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    Length: 27 pages
    Date of creation: 17 Jun 2002
    Date of revision:
    Handle: RePEc:hhs:bofrdp:2002_012

    Contact details of provider:
    Postal: Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland
    Web page: http://www.suomenpankki.fi/en/
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    Related research

    Keywords: banks; service production; productivity;

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    References

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    1. Colwell, R J & Davis, E P, 1992. " Output and Productivity in Banking," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(0), pages S111-29, Supplemen.
    2. Allen, Robert C & Diewert, W Erwin, 1981. "Direct versus Implicit Superlative Index Number Formulae," The Review of Economics and Statistics, MIT Press, vol. 63(3), pages 430-35, August.
    3. Charles R. Hulten, 2000. "Total Factor Productivity: A Short Biography," NBER Working Papers 7471, National Bureau of Economic Research, Inc.
    4. Sherman, H. David & Gold, Franklin, 1985. "Bank branch operating efficiency : Evaluation with Data Envelopment Analysis," Journal of Banking & Finance, Elsevier, vol. 9(2), pages 297-315, June.
    5. Allen N. Berger & David B. Humphrey, 1992. "Measurement and Efficiency Issues in Commercial Banking," NBER Chapters, in: Output Measurement in the Service Sectors, pages 245-300 National Bureau of Economic Research, Inc.
    6. Kim, Moshe, 1986. "Banking technology and the existence of a consistent output aggregate," Journal of Monetary Economics, Elsevier, vol. 18(2), pages 181-195, September.
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    Cited by:
    1. Athanasoglou, Panayiotis & Georgiou, Evangelia & Staikouras, Christos, 2008. "Assessing output and productivity growth in the banking industry," MPRA Paper 31996, University Library of Munich, Germany.
    2. Jimborean, Ramona & Brack, Estelle, 2010. "The cost-efficiency of French banks," MPRA Paper 23471, University Library of Munich, Germany.

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