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-Convergence In Efficiency Of The Spanish Banking Firms As Distribution Dynamics

  • Emili Tortosa Ausina

    ()

    (Universitat Jaume I)

During the last fifteen years the competitive conditions under which Spanish banking firms operate have become much tighter. Deregulation has affected both banks and savings banks, allowing them to expand geographically and to choose a less regulation-conditioned output mix.This paper analyzes how, in these circumstances, banking efficiency has been affected considering two specifications of output and analyzing the dynamics of the entire distribution, not only mean and standard deviation. Results differ depending on the output definition, but they show that, in general, efficiency scores exhibit dynamic patterns that only two moments of the distribution hardly capture. In particular, regardless of the output definition considered, efficiency scores were more dispersed in 1985 and more concentrated in 1995. In addition, the multi-modality of the distributions has almost disappeared at the end of the period. Durante los últimos quince años las condiciones competitivas bajo las que operan las empresas bancarias españolas se han intensificado considerablemente. La desregulación ha afectado tanto a bancos como a cajas de ahorro, permitiendo la expansión geográfica de estas últimas así como la elección de una determinada especialización menos condicionada por la regulación. Este trabajo analiza cómo, en estas circunstancias, la eficiencia de las empresas bancarias se ha visto afectada, a través de dos aproximaciones del output bancario y analizando la dinámica de la totalidad de la distribución, no únicamente media y desviación típica. Los resultados difieren de acuerdo con las distintas aproximaciones al output pero muestran que, en general, los índices de eficiencia muestran patrones dinámicos que sólo dos momentos de la distribución no captan. En particular, e independientemente de la definición del output, los índicesde eficiencia estaban más dispersos en 1985 y más concentrados en 1995. Asimismo, la multimodalidad de las distribuciones prácticamente ha desaparecido al final del periodo analizado.

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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1999-14.

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Length: 32 pages
Date of creation: Nov 1999
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1999-14
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  1. J Andres & A Lamo, 1995. "Dynamics of the Income Distribution across OECD Countries," CEP Discussion Papers dp0252, Centre for Economic Performance, LSE.
  2. Loretta J. Mester, 1992. "Efficiency in the savings and loan industry," Working Papers 92-14, Federal Reserve Bank of Philadelphia.
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  4. Allen N. Berger & Loretta J. Mester, 1997. "Inside the black box: what explains differences in the efficiencies of financial institutions?," Finance and Economics Discussion Series 1997-10, Board of Governors of the Federal Reserve System (U.S.).
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  8. Vives, Xavier, 1991. "Regulatory reform in European banking," European Economic Review, Elsevier, vol. 35(2-3), pages 505-515, April.
  9. José Manuel Pastor Monsálvez, 1995. "Eficiencia, Cambio Productivo Y Cambio Técnico En Los Bancos Y Cajas De Ahorro Españolas: Un Análisis Frontera No Paramétrico," Working Papers. Serie EC 1995-09, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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  12. Vives, Xavier, 1990. "Banking Competition and European Integration," CEPR Discussion Papers 373, C.E.P.R. Discussion Papers.
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  14. Cao, Ricardo & Cuevas, Antonio & Gonzalez Manteiga, Wensceslao, 1994. "A comparative study of several smoothing methods in density estimation," Computational Statistics & Data Analysis, Elsevier, vol. 17(2), pages 153-176, February.
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  16. Quah, Danny, 1993. " Galton's Fallacy and Tests of the Convergence Hypothesis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 95(4), pages 427-43, December.
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  18. Berger, Allen N. & Humphrey, David B., 1991. "The dominance of inefficiencies over scale and product mix economies in banking," Journal of Monetary Economics, Elsevier, vol. 28(1), pages 117-148, August.
  19. Joaquín Maudos, 1996. "Eficiencia, cambio técnico y productividad en el sector bancario español: una aproximación de frontera estocástica," Investigaciones Economicas, Fundación SEPI, vol. 20(3), pages 339-358, September.
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