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Cost structure, technological change, and productivity growth in the greek banking sector

Listed author(s):
  • Nicholas Apergis
  • Anthony Rezitis

This paper first empirically investigates the cost structure of the Greek banking sector. Secondly, it provides measures of economies (diseconomies) of scale and quantifies technical change and its sources. Finally, this paper measures total factor productivity growth and identifies its sources. Bank production is presented with two different approaches (the intermediation and the production approach) which are used to specify a translog cost function. The two different translog cost models are estimated through the full information maximum likelihood method of estimation on pooled time series and cross sectional data. The results obtained are not significantly affected by model specification. Both models indicate significant economies of scale and negative annual rates of growth in technical change and in total factor productivity. Copyright International Atlantic Economic Society 2004

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File URL: http://hdl.handle.net/10.1007/BF02295573
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Article provided by Springer & International Atlantic Economic Society in its journal International Advances in Economic Research.

Volume (Year): 10 (2004)
Issue (Month): 1 (February)
Pages: 1-15

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Handle: RePEc:kap:iaecre:v:10:y:2004:i:1:p:1-15:10.1007/bf02295573
DOI: 10.1007/BF02295573
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  1. Mahajan, Arvind & Rangan, Nanda & Zardkoohi, Asghar, 1996. "Cost structures in multinational and domestic banking," Journal of Banking & Finance, Elsevier, vol. 20(2), pages 283-306, March.
  2. Ugur Muldur & Mohamed Sassenou, 1993. "Economies of scale and scope in French banking and savings institutions," Journal of Productivity Analysis, Springer, vol. 4(1), pages 51-72, June.
  3. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1973. "Transcendental Logarithmic Production Frontiers," The Review of Economics and Statistics, MIT Press, vol. 55(1), pages 28-45, February.
  4. Jagtiani, Julapa & Khanthavit, Anya, 1996. "Scale and scope economies at large banks: Including off-balance sheet products and regulatory effects (1984-1991)," Journal of Banking & Finance, Elsevier, vol. 20(7), pages 1271-1287, August.
  5. Benston, George J & Hanweck, Gerald A & Humphrey, David B, 1982. "Scale Economies in Banking: A Restructuring and Reassessment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(4), pages 435-456, November.
  6. Seyed Mehdian & Rasoul Rezvanian, 1998. "Production economies of small depository institutions in the post-FIRREA era: evidence from cooperative banks," Applied Economics, Taylor & Francis Journals, vol. 30(3), pages 427-433.
  7. David Humphrey, 1993. "Cost and technical change: Effects from bank deregulation," Journal of Productivity Analysis, Springer, vol. 4(1), pages 9-34, June.
  8. Darrell Parsons & Calvin Gotlieb & Michael Denny, 1993. "Productivity and computers in Canadian banking," Journal of Productivity Analysis, Springer, vol. 4(1), pages 95-113, June.
  9. Caves, Douglas W & Christensen, Laurits R & Swanson, Joseph A, 1981. "Productivity Growth, Scale Economies, and Capacity Utilization in U.S. Railroads, 1955-74," American Economic Review, American Economic Association, vol. 71(5), pages 994-1002, December.
  10. Esho, Neil & Sharpe, Ian G., 1995. "Long-run estimates of technological change and scale economies in a dynamic framework: Australian permanent building societies, 1974-1990," Journal of Banking & Finance, Elsevier, vol. 19(7), pages 1135-1157, October.
  11. Hunter, William C & Timme, Stephen G, 1986. "Technical Change, Organizational Form, and the Structure of Bank Production," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 18(2), pages 152-166, May.
  12. Kim, Moshe & Ben-Zion, Uri, 1989. "The Structure of Technology in a Multioutput Branch Banking Firm," Journal of Business & Economic Statistics, American Statistical Association, vol. 7(4), pages 489-496, October.
  13. Michel Dietsch, 1993. "Economies of scale and scope in French commercial banking industry," Journal of Productivity Analysis, Springer, vol. 4(1), pages 35-50, June.
  14. Günter Lang & Peter Welzel, 1998. "Technology and Cost Efficiency in Universal Banking A “Thick Frontier”-Analysis of the German Banking Industry," Journal of Productivity Analysis, Springer, vol. 10(1), pages 63-84, July.
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