浅析我国商业银行的规模经济效应

本文简要分析了我国商业银行的规模经济形成的原因,并且针对我国商业银行的规模经济遇到的问题及其应对策略做简要探析.     

Efficiency and economies of scale of large Canadian banks

Abstract.  This paper measures the economies of scale of Canada's six largest banks and their cost-efficiency over time. Using a unique panel data set from 1983 to 2003, we estimate pooled cost functions and derive measures of relative efficiency and economies of scale. The disaggregation of the data allows us to include non-traditional outputs as well as time-varying, bank-specific effects. Our model leads us to reject constant returns to scale. These findings suggest there are potential scale benefits in the Canadian banking industry. We also find that technological and regulatory changes have had significant positive effects on the banks' cost structure.     

中国商业银行技术效率状况分析

基于数据包络理论,本文研究了我国11家主要商业银行1999-2006年的技术效率状况.研究结果表明:1999--2006年间,我国商业银行整体效率呈现出先下降,后上升的趋势.我国商业银行的技术效率并不差,其加权平均技术效率值处在[0.6,1].11家被研究的商业银行中,中国民生银行的技术效率最好.固有商业银行的股份制改造和公司治理水平的提高,时提高我国商业银行的整体技术效率起到了积极作用.     

Relative price shifts,economies of scale and poverty during economic transition1

Economic transition is associated with significant shifts in relative prices between private and public goods. If, as a result, public goods claim a larger share of total expenditures, economies of scale in consumption increase. We show how relative price changes might alter the welfare of different‐sized households in the short run and over time. We illustrate, for a selection of transition economies, that conventional poverty profiles are quite sensitive to assumptions made about economies of scale in consumption. In particular, the common view that large households with many children are poor relative to small households (such as those comprising the elderly) is shown to be highly non‐robust.     

Inter-factor Substitution,economies of scale and technical change: Evidence from Canadian industries

This paper explores the causes of inter-temporal variations in factor intensities and total factor productivity (TFP) in Canadian industries. For this purpose, we estimated translog cost function at the sector level allowing for non-homotheticity and non-neutral technical progress. Our empirical results suggest that about 15 to 20 per cent of the post-1973 slowdown in TFP is due to the inter-industry shifts in factor inputs. The remaining productivity slowdown could be attributed to the world wide slowdown in aggregate demand (lower capacity utilization rates) and the substantial increase in the relative price of energy and raw materials.     

Ownership structure and efficiency in large economies

We analyze the limit behavior of sequences of oligopolistic equilibria in which firms follow objectives consistent with their shareholders?? interests. We show that convergence to a competitive outcome may fail for some distributions of firms?? shares across consumers and provide a characterization of the class of ownership structures that lead to Walrasian equilibrium allocations in the limit.     

The comparative efficiency performance of small and large US commercial banks in the pre- and post-deregulation eras

The purposes of this paper are twofold: first, to employ a flexible non-parametric approach to contrast the productive efficiency of a sample of small and large banks in order to examine the relationship between size and productive performance in the banking industry. Second, to investigate whether the relative efficiency performance of small and large banks has changed following the changes in the banking environment in the 1980s and to contrast the rate of technological change achieved by these two groups of banks over this time period. The findings based on group-specific frontiers suggest that in the pre-deregulation environment small banks were more efficient than the large banks while in the deregulated environment small and large banks were equally efficient. Moreover, the dispersion in the efficiency measures of the small banks is found to have increased substantially while that of the large banks changed little over the sample period.     

Cost efficiency and scale economies in the Turkish insurance industry

This article examines the cost efficiency and scale economies of insurance firms in the Turkish insurance industry over a 15-year period, 1990–2004. Using the stochastic cost frontier model, cost efficiency scores and scale economies were estimated for each firm in the sample. The results show that mean cost inefficiencies range between 18.3 and 36.9% of total costs and they do not tend to decrease over time. On average, small firms are more cost efficient than large firms. Economies of scale appear present and significant for any class size. The results suggest that there is a substantial difference in scale economies between small and large insurance firms.     

Scope economies and technical efficiency of cocoa agroforesty systems in Ghana

A number of studies have addressed issues relating to the physiological, environmental and economic values of trees in cocoa farming systems. However, to date, little has been done to quantitatively examine the effect of crop diversity on cocoa farming efficiency. This study therefore sets out to first investigate whether and to what extent crop diversity (defined as the mixing of cocoa with other crop species on farmers' plots) affects productivity on cocoa farms. Secondly, it sought to establish whether there are economies of scope (i.e., cost complementarities) from the sharing of farm inputs by crops on the same plots. Our results indicate that diversified (i.e., multi-crop) cocoa farms are more efficient than single (i.e., mono) crop farms. Furthermore, our estimate for the economies of scope parameter indicates possibilities for cost complementarities between production of cocoa and other crops on the same plot. We advocate further investigation on the issue of scope economies to determine which crop combinations offer better cost complementarities and also meet biodiversity conservation objectives.     

Explaining efficiency differences among large German and Austrian banks

Cost-efficiency, scale efficiency, and productivity change are estimated by data envelopment analysis; and cost-efficiency is regressed on explanatory variables. No evidence is found for average productivity responding to deregulation over the period studied. State-owned banks are found to be more cost-efficient (likely owing to cheaper funds) and cooperative banks to be about as cost-efficient as private banks. Increasing economies of scale but decreasing economies of scope provide rationale for M&As among banks with similar product portfolios. Interbank and capital market funding is found to be more cost-efficient than deposits when the cost of retail networks is controlled.     

Convergence in OECD countries: technical change,efficiency and productivity

The aim of this study is to analyse labour productivity convergence in the OECD countries over the period 1975-90. A nonparametric frontier approach is used to calculate the Malmquist productivity index. By breaking it down, the contribution in the growth of labour productivity of technical progress, of changes in efficiency, and of the accumulation of inputs per worker are quantified. Unlike other studies, the results obtained show that technical change has worked against labour productivity convergence, since it has always been greater in the countries with higher labour productivity.     

Capital utilization,economies of scale and technical change in the growth of total factor productivity: An Explanation of South Korean manufacturing Growth

This paper presents a method of interpreting the growth of total factor productivity, directly linking the productivity growth to key parameters of a specific cost function. It shows that the productivity index can be decomposed into effects due to (a) technical change, (b) non-constant returns to scale, and (c) change in capital utilization. The decomposition framework was applied to data on South Korean manufacturing. During the 1961–1980 period in South Korean manufacturing, the total factor productivity was found to have grown at 3% per annum, scale economies contributed about 38% of the growth of TFP, the technical change 45%, and the change in the capital utilization rate 17%. The results of this study support of the view that for growing, less-developed economies, the growth in capital utilization rate is a source of growth in total productivity that is too significant to be ignored.     

Technical change,technical efficiency,and input usage in Taiwanese agricultural growth

We analyse the increase in sales of Pick 3 and Pick 4 daily numbers lottery games and other Ohio Lottery games after Ohio introduced midday drawings for the Pick 3 and Pick 4 games in August 1999. The midday drawings increased Pick 3 sales by 5%, Pick 4 sales by 12%, and total lottery sales by 2% based on our analysis of a 36-month panel dataset of Ohio lottery sales by zip code. Midday drawings raise more revenue from the strongly regressive daily numbers games. However, the introduction of midday drawings does not change the negative income elasticities of demand for numbers games in an economically meaningful manner.     

Simultaneous estimation of income and price elasticities of export demand,scale economies and total factor productivity growth for Brazil

This article focuses on a growth model in which (unlike other models) low (high) export demand elasticities and the fact that developing countries are importers of capital goods help explaining the slow (high) growth of these countries in the transition and in the steady state. The question arises whether export demand elasticities are low or high. For answering this question, export demand elasticities for the case of Brazil are obtained by estimation of the model. As a by-product of estimating the model, we obtain estimates for total-factor productivity growth and for scale economies. Based on the results from estimation we calculate steady-state growth rates, engine and handmaiden effects of growth as well as dynamic steady-state gains from trade. The model and the results are discussed in regard to several strands of literature.     

Technical and scale efficiency of Japanese commerical banks: a non-parametric approach

Not only are the nature and extent and scale efficiency of Japanese commerical banks studied but a relationship between both organizational status and size efficiency is also announced. The efficiency measures are computed from a 1990 sample of cross-sectional data. For the estimation, we employ the non-parametric approach which has recently been gaining popularity for the studies of banking efficiency outside Japan.     

Forecast accuracy of small and large scale dynamic factor models in developing economies

Developing economies usually present limitations in the availability of economic data. This constraint may affect the capacity of dynamic factor models to summarize large amounts of information into latent factors that reflect macroeconomic performance. This paper addresses this issue by comparing the accuracy of two kinds of dynamic factor models at GDP forecasting for six Latin American countries. Each model is based on a dataset of different dimensions: a large dataset composed of series belonging to several macroeconomic categories (large scale dynamic factor model) and a small dataset with a few prescreened variables considered as the most representative ones (small scale dynamic factor model). Short‐term pseudo real time out‐of‐sample forecast of GDP growth is carried out with both models reproducing the real time situation of data accessibility derived from the publication lags of the series in each country. Results (i) confirm the important role of the inclusion of latest released data in the forecast accuracy of both models, (ii) show better precision of predictions based on factors with respect to autoregressive models and (iii) identify the most adequate model for each country according to availability of the observed data.     

Evaluating the technical efficiency of large US law firms

We conduct a performance evaluation in terms of technical efficiency of large law firms based on a unique sample of 163 large law firms in the USA in 1994. To estimate technical efficiency for individual firms, we use the stochastic frontier production function with composed errors where output (measured in terms of revenue) is a function of various labour and human capital inputs. Based on the sample, the average level of technical efficiency in the production of legal service in large US law firms is estimated at 82.20%. More than 87% of the firms attained 75% or higher level of technical efficiency. The estimation results also indicate that the number of lawyers, the number of paralegals, and the number of associates per partner, have a positive and statistically significant effect on the production of legal service.     

A law of large numbers for large economies

Summary LetX(i),i[0; 1] be a collection of identically distributed and pairwise uncorrelated random variables with common finite mean and variance ². This paper shows the law of large numbers, i.e. the fact that ₀ ¹ X(i)di=. It does so by interpreting the integral as a Pettis-integral. Studying Riemann sums, the paper first provides a simple proof involving no more than the calculation of variances, and demonstrates, that the measurability problem pointed out by Judd (1985) is avoided by requiring convergence in mean square rather than convergence almost everywhere. We raise the issue of when a random continuum economy is a good abstraction for a large finite economy and give an example in which it is not.I am indebted to Hugo Hopenhayn. Furthermore I would like to thank Dilip Abreu, Glenn Donaldson, Ed Green, Ramon Marimon, Nabil Al-Najjar, Victor Rios-Rull, Timothy van Zandt and the editor for useful comments. The first version of this paper was written in 1987.