Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/211916 
Year of Publication: 
2002
Series/Report no.: 
Bank of Finland Discussion Papers No. 12/2002
Publisher: 
Bank of Finland, Helsinki
Abstract: 
This paper contributes to the discussion on the measurement of banking sector output.It is also a prelude to discussion on possible causes of productivity change in banking.We demonstrate how the banking sector's service production can be measured using aggregate financial statement and payment transactions data.We compute banking sector labour productivity Tornqvist indices for six countries (Finland, Sweden, United Kingdom, Germany, France and Italy) over a period varying from 11 to 20 years.According to the results, Finnish banking sector productivity has improved via a substantial reduction size of labour force, whereas output growth has been rather modest.Although in most of the other countries the restructuring process has been less intense, most of the sectors studied have improved in terms of overall output and labour productivity, especially since the mid-1990s.
Subjects: 
banks
service production
productivity
JEL: 
D24
G21
Persistent Identifier of the first edition: 
ISBN: 
951-686-785-5
Document Type: 
Working Paper

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