Financial sector liberalization,bank privatization,and efficiency: Evidence from Pakistan |
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| Institution: | 1. Banca d’Italia, Research Department, Via Nazionale 91, 00184 Rome, Italy;2. IMF, Monetary and Financial Systems Department, 700 19th St. NW, Washington, DC 20431, United States;1. Banco Central del Uruguay, J.P. Fabini 777, Montevideo 11100, Uruguay;2. Deutsche Bundesbank, Wilhelm-Epstein-Straße 14, Frankfurt am Main 60431, Germany;1. University of Sussex, United Kingdom;2. Lancaster University Management School, United Kingdom;1. Division of Cardiovascular Medicine, University of Southern California, Los Angeles, California;2. Duke Clinical Research Institute, Duke University Medical Center, Durham, North Carolina;3. Division of Cardiology, University of Texas Southwestern Medical Center, Dallas, Texas;4. Division of Cardiology, Harbor UCLA Medical Center, Torrance, California;1. Department of Internal Medicine, Ewha Womans University School of Medicine, Seoul, South Korea;2. Department of Obstetrics and Gynecology, Ewha Womans University School of Medicine, Seoul, South Korea;1. US-Pakistan Center for Advanced Studies in Energy (USPCAS-E), National University of Science and Technology (NUST), H-12, Islamabad, Pakistan;2. Department of Economics, S3H, National University of Science and Technology (NUST), H-12, Islamabad, Pakistan |
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| Abstract: | The Pakistani banking system has been transformed over the past 15 years through liberalization, the entry of private banks, the privatization of public-sector banks, and the tightening of prudential regulations. The effects of these changes on bank productivity and relative efficiency are investigated using various techniques. Bank productivity in terms of profits has increased, and new entrants have been efficient, but the dispersion of efficiency remains wide. The privatized banks improved their profit efficiency in the period immediately following their privatization, but in the subsequent years only one significantly improved its efficiency, whereas the other did not differentiate itself in terms of efficiency from the remaining state-owned banks. The new private domestic banks generally proved to be among the most efficient, and sometimes out-performed the foreign banks. |
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