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Integration, productivity and technological spillovers: evidence for eurozone banking industries

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journal contribution
posted on 14.03.2018 by Barbara Casu, Alessandra Ferrari, Claudia Girardone, John O.S. Wilson
In the context of the current debate on increased integration of eurozone banking markets following the global financial and sovereign debt crises, this paper evaluates the impact of regulatory reform, starting from the inception of the Single Market in 1992, on bank productivity and assesses the cross-border benefits of integration in terms of technological spillovers. We utilise a parametric meta-frontier Divisia index to estimate productivity change and identify technological gaps. We then assess the extent to which productivity converges within and across banking industries as a result of technological spillovers. Our results suggest that productivity growth has occurred for eurozone countries, driven by technological progress, both at the country and the supra-country level, although the latter slows or in some cases reverses since the onset of the crisis. Technological spillovers do exist, and have led to progression toward the best technology. However, convergence is not complete and significant long run differences in productivity persist. Improvements in technology are increasingly concentrated in fewer banking industries.

History

School

  • Business and Economics

Department

  • Economics

Published in

European Journal of Operational Research

Volume

255

Issue

3

Pages

971 - 983

Citation

CASU, B. ... et al, 2016. Integration, productivity and technological spillovers: evidence for eurozone banking industries. European Journal of Operational Research, 255 (3), pp.971-983

Publisher

Elsevier

Version

AM (Accepted Manuscript)

Rights holder

© Elsevier

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Acceptance date

04/06/2016

Publication date

2016

Copyright date

2016

ISSN

0377-2217

Language

en

Depositor

Deposited 13/03/2018

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