Bank productivity growth and convergence in the European Union during the financial crisis
This paper examines the bank productivity growth and integration process for the 28 EU countries during three main phases of the financial crisis: the U.S. subprime crisis (2007–2008), the global financial crisis (2009–2010) and the sovereign debt crisis (2010–2012). We extend the Malmquist Producti...
Saved in:
Main Authors: | , , , |
---|---|
Format: | Article |
Published: |
North-Holland
2017
|
Subjects: | |
Online Access: | http://repo.uum.edu.my/24754/ http://doi.org/10.1016/j.jbankfin.2016.11.016 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
my.uum.repo.24754 |
---|---|
record_format |
eprints |
spelling |
my.uum.repo.247542018-09-12T02:57:42Z http://repo.uum.edu.my/24754/ Bank productivity growth and convergence in the European Union during the financial crisis Degl'Innocenti, Marta Kourtzidis, Stavros A. Sevic, Zeljko Tzeremes, Nickolaos G. HG Finance This paper examines the bank productivity growth and integration process for the 28 EU countries during three main phases of the financial crisis: the U.S. subprime crisis (2007–2008), the global financial crisis (2009–2010) and the sovereign debt crisis (2010–2012). We extend the Malmquist Productivity Index by applying an additive two-stage DEA model. This allows us to explore the sources of growth in different stages of production. Furthermore, we assess the integration of European banks by analyzing the β-convergence and σ-convergence of the two-stage Productivity Index. Our results show a productivity growth during the U.S. subprime crisis, but a consistent decline during the global financial crisis. The loss of competitiveness of the European banking system is due to the drop in growth of the performance stage and technical change. Finally, we find a strong convergence pattern during the financial crisis, mainly driven by the catch up process of some Eastern countries and the drop in performance of Western countries. North-Holland 2017 Article PeerReviewed Degl'Innocenti, Marta and Kourtzidis, Stavros A. and Sevic, Zeljko and Tzeremes, Nickolaos G. (2017) Bank productivity growth and convergence in the European Union during the financial crisis. Journal of Banking & Finance, 75. pp. 184-199. ISSN 03784266 http://doi.org/10.1016/j.jbankfin.2016.11.016 doi:10.1016/j.jbankfin.2016.11.016 |
institution |
Universiti Utara Malaysia |
building |
UUM Library |
collection |
Institutional Repository |
continent |
Asia |
country |
Malaysia |
content_provider |
Universiti Utara Malaysia |
content_source |
UUM Institutionali Repository |
url_provider |
http://repo.uum.edu.my/ |
topic |
HG Finance |
spellingShingle |
HG Finance Degl'Innocenti, Marta Kourtzidis, Stavros A. Sevic, Zeljko Tzeremes, Nickolaos G. Bank productivity growth and convergence in the European Union during the financial crisis |
description |
This paper examines the bank productivity growth and integration process for the 28 EU countries during three main phases of the financial crisis: the U.S. subprime crisis (2007–2008), the global financial crisis (2009–2010) and the sovereign debt crisis (2010–2012). We extend the Malmquist Productivity Index by applying an additive two-stage DEA model. This allows us to explore the sources of growth in different stages of production. Furthermore, we assess the integration of European banks by analyzing the β-convergence and σ-convergence of the two-stage Productivity Index. Our results show a productivity growth during the U.S. subprime crisis, but a consistent decline during the global financial crisis. The loss of competitiveness of the European banking system is due to the drop in growth of the performance stage and technical change. Finally, we find a strong convergence pattern during the financial crisis, mainly driven by the catch up process of some Eastern countries and the drop in performance of Western countries. |
format |
Article |
author |
Degl'Innocenti, Marta Kourtzidis, Stavros A. Sevic, Zeljko Tzeremes, Nickolaos G. |
author_facet |
Degl'Innocenti, Marta Kourtzidis, Stavros A. Sevic, Zeljko Tzeremes, Nickolaos G. |
author_sort |
Degl'Innocenti, Marta |
title |
Bank productivity growth and convergence in the European Union during the financial crisis |
title_short |
Bank productivity growth and convergence in the European Union during the financial crisis |
title_full |
Bank productivity growth and convergence in the European Union during the financial crisis |
title_fullStr |
Bank productivity growth and convergence in the European Union during the financial crisis |
title_full_unstemmed |
Bank productivity growth and convergence in the European Union during the financial crisis |
title_sort |
bank productivity growth and convergence in the european union during the financial crisis |
publisher |
North-Holland |
publishDate |
2017 |
url |
http://repo.uum.edu.my/24754/ http://doi.org/10.1016/j.jbankfin.2016.11.016 |
_version_ |
1644284132866392064 |
score |
13.154949 |