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Deregulation and Productivity: The Case of Spanish Banks

  • Subal kumbhakar

    ()

  • Ana Lozano-Vivas

This paper deals with measuring total factor productivity (TFP) growth of financial institutions incorporating different types of deregulatory measures. TFP growth is decomposed into external, scale, and markup components. The external component is further dissected into deregulation and technical change components. The TFP growth relationship is included as an additional equation in estimating the cost system. The empirical model uses panel data on Spanish banks (savings and commercial banks). We find that deregulations contributed positively to TFP growth for both savings and commercial banks. Furthermore, domestic (European) deregulations had a greater effect on TFP growth of savings (commercial) banks. Copyright Springer Science+Business Meida, Inc. 2005

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File URL: http://hdl.handle.net/10.1007/s11149-005-6627-2
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Article provided by Springer in its journal Journal of Regulatory Economics.

Volume (Year): 27 (2005)
Issue (Month): 3 (01)
Pages: 331-351

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Handle: RePEc:kap:regeco:v:27:y:2005:i:3:p:331-351
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  1. Lozano-Vivas, Ana & Humphrey, David B., 2002. "Bias in Malmquist index and cost function productivity measurement in banking," International Journal of Production Economics, Elsevier, vol. 76(2), pages 177-188, March.
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  5. Kumbhakar, Subal C, et al, 2001. "The Effects of Deregulation on the Performance of Financial Institutions: The Case of Spanish Savings Banks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(1), pages 101-20, February.
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  14. Vivas, Ana Lozano, 1997. "Profit efficiency for Spanish savings banks," European Journal of Operational Research, Elsevier, vol. 98(2), pages 381-394, April.
  15. Kumbhakar, Subal C, 1992. "Allocative Distortions, Technical Progress, and Input Demand in U.S. Airlines: 1970-1984," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(3), pages 723-37, August.
  16. Berger, Allen N. & Humphrey, David B., 1997. "Efficiency of financial institutions: International survey and directions for future research," European Journal of Operational Research, Elsevier, vol. 98(2), pages 175-212, April.
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  20. Bhattacharyya, Anjana & Bhattacharyya, Arunava & Kumbhakar, Subal C., 1997. "Changes in Economic Regime and Productivity Growth: A Study of Indian Public Sector Banks," Journal of Comparative Economics, Elsevier, vol. 25(2), pages 196-219, October.
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