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Institutional Reforms, EU Accession, and Bank Efficiency: Evidence from Bulgaria

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Author Info

  • Kiril Tochkov

    () (Department of Economics, Texas Christian University)

  • Nikolay Nenovsk

    () (Department of Economics, University of Orleans and ICER)

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    Abstract

    The paper examines the efficiency of Bulgarian banks and its determinants over the period 1999-2007. The levels of technical, allocative, and cost efficiency are estimated using a non-parametric methodology and then regressed upon a number of bank-specific, institutional, and EU-related factors. The findings indicate that foreign banks were more efficient than domestic private banks, although the gap between them narrowed over time. State-owned banks ranked last but their privatization resulted in efficiency gains. Capitalization, liquidity, and enterprise restructuring enhanced bank efficiency, while banking reforms had an adverse effect. The Treaty of Accession and EU membership were associated with significant efficiency improvements.

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    File URL: http://www.econ.tcu.edu/RePEc/tcu/wpaper/wp10-02.pdf
    File Function: First version, 2010
    Download Restriction: no

    Bibliographic Info

    Paper provided by Texas Christian University, Department of Economics in its series Working Papers with number 201005.

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    Length: 32 pages
    Date of creation: Mar 2010
    Date of revision:
    Handle: RePEc:tcu:wpaper:201005

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    Web page: http://www.econ.tcu.edu/
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    Related research

    Keywords: Transition economies; Banking; Efficiency; EU accession;

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