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Title:The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany PDF Logo
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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