Total factor productivity growth in the Canadian life insurance industry: 1979-1989
This is the first paper to directly measure and decompose total factor productivity growth (TFPG) for the Canadian life insurance industry. TFPG averaged 1.0 percent per year over the period from 1979 to 1989, thereby outperforming many manufacturing industries. The rate of TFPG was 0.2 percent in the first half of the 1980's due to the depressed economy and 1.9 percent in the last half of the decade. Technological change was the major element contributing to TFPG. There was a large residual element in the decomposition of TFPG, reflecting possible adjustment costs associated with new information processing technologies.
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Volume (Year): 32 (1999)
Issue (Month): 2 (April)
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- Daly, Michael J. & Someshwar Rao, P. & Geehan, Randall, 1985. "Productivity, scale economies and technical progress in the Canadian life insurance industry," International Journal of Industrial Organization, Elsevier, vol. 3(3), pages 345-361, September.
- David B. Humphrey, 1991. "Productivity in banking and effects from deregulation," Economic Review, Federal Reserve Bank of Richmond, issue Mar, pages 16-28.
- Halpern, Paul J. & Mathewson, G. Frank, 1975. "Economies of scale in financial institutions : A general model applied to insurance," Journal of Monetary Economics, Elsevier, vol. 1(2), pages 203-220, April.
- Bernstein, Jeffrey I, 1992.
" Information Spillovers, Margins, Scale and Scope: With an Application to Canadian Life Insurance,"
Scandinavian Journal of Economics,
Wiley Blackwell, vol. 94(0), pages S95-105, Supplemen.
- Jeffrey I. Bernstein, 1992. "Information Spillovers, Margins, Scale and Scope: With an Application to Canadian Life Insurance," NBER Working Papers 3979, National Bureau of Economic Research, Inc.
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