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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank >
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http://hdl.handle.net/10419/27686
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| Title: | | The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany  |
| Authors: | | Fiorentino, Elisabetta Vincenzo, Alessio De Heid, Frank Karmann, Alexander Koetter, Michael |
| Issue Date: | | 2009 |
| Series/Report no.: | | Discussion Paper Series 2: Banking and financial studies 2009,03 |
| 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. |
| Subjects: | | Banking market integration deregulation total factor productivity Italy Germany |
| JEL: | | D24 G21 G28 L33 |
| ISBN: | | 978-3-86558-494-6 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank
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