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Integration, productivity and technological spillovers: evidence for eurozone banking industries
journal contribution
posted on 2018-03-14, 15:59 authored by Barbara Casu, Alessandra FerrariAlessandra Ferrari, Claudia Girardone, John O.S. WilsonIn 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 ResearchVolume
255Issue
3Pages
971 - 983Citation
CASU, B. ... et al, 2016. Integration, productivity and technological spillovers: evidence for eurozone banking industries. European Journal of Operational Research, 255 (3), pp.971-983Publisher
ElsevierVersion
- AM (Accepted Manuscript)
Rights holder
© ElsevierPublisher 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
2016-06-04Publication date
2016-06-16Copyright date
2016ISSN
0377-2217Publisher version
Language
- en