@techreport{Fiorentino2009effects,
abstract = {The Italian and German banking systems shared similar characteristics early in the 1990s but have evolved in different directions since then: Italy privatized its publicly-owned banks while Germany has maintained a large share of state-owned savings banks. Contemporaneously, banks in both markets engaged heavily in mergers and acquisitions. We analyze how these activities have affected banks' productivity in the period 1994-2004, differentiating between technical change, efficiency change and scale economies. We find that privatized banks experienced a significant increase in productivity, especially if they subsequently merged with other banks. German banks were still able to increase their productivity through consolidation.},
address = {Frankfurt am Main},
author = {Elisabetta Fiorentino and Alessio De Vincenzo and Frank Heid and Alexander Karmann and Michael Koetter},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
isbn = {978-3-86558-494-6},
keywords = {D24; G21; G28; L33; 330; Banking market integration; deregulation; total factor productivity; Italy; Germany; Bank; Produktivit\"{a}t; \"{O}ffentliche Bank; Privatisierung; \"{U}bernahme; Fusion; Deutschland; Italien},
language = {eng},
number = {2009,03},
publisher = {Deutsche Bundesbank},
title = {The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany},
type = {Discussion Paper Series 2: Banking and financial studies},
url = {http://hdl.handle.net/10419/27686},
year = {2009}
}

