The impact of financial liberalization on bank efficiency: evidence from Latin America and Asia

References

• Aly , HY and Grabowski , R . 1990 . Technical, scale, and allocative efficiencies in U.S. banking: an empirical investigation . The Review of Economics and Statistics , 72 : 211 – 9 .
   Web of Science ®Google Scholar
• Ataullah , A , Cockerill , T and Le , H . 2004 . Financial liberalization and bank efficiency: a comparative analysis of India and Pakistan . Applied Economics , 36 : 1915 – 24 .
   Web of Science ®Google Scholar
• Ataullah , A and Le , H . 2006 . Economic reforms and bank efficiency in developing countries: the case of the Indian banking industry . Applied Financial Economics , 16 : 653 – 63 .
   Google Scholar
• Baltagi , BH . 1995 . Econometric Analysis of Panel Data , Chichester : Wiley & Sons .
   Google Scholar
• Banker , RD , Charnes , A and Cooper , WW . 1984 . Some models for estimating technical and scale inefficiencies in data envelopment analysis . Management Science , 30 : 1078 – 92 .
   Web of Science ®Google Scholar
• Barajas , A and Steiner , R . 2000 . The impact of liberalization and foreign investment in Colombia's financial sector . Journal of Development Economics , 63 : 157 – 97 .
   Web of Science ®Google Scholar
• Berg , SA , Førsund , FR , Hjalmarsson , L and Suominen , M . 1993 . Banking efficiency in the Nordic countries . Journal of Banking and Finance , 17 : 371 – 88 .
   Web of Science ®Google Scholar
• Berger , AN and De Young , R . 1997 . Problem loans and cost efficiency in commercial banks . Journal of Banking and Finance , 21 : 849 – 70 .
   Web of Science ®Google Scholar
• Berger , AN and Humphrey , DB . 1991 . The dominance of inefficiencies over scale and product mix economies in banking . Journal of Monetary Economics , 28 : 117 – 48 .
   Web of Science ®Google Scholar
• Berger , AN and Humphrey , DB . 1997 . Efficiency of financial institutions: international survey and directions for future research . European Journal of Operational Research , 98 : 175 – 212 .
   Web of Science ®Google Scholar
• Bhattacharyya , A , Lovell , CAK and Sahay , P . 1997 . The impact of liberalization on the productive efficiency of Indian commercial banks . European Journal of Operational Research , 98 : 332 – 45 .
   Web of Science ®Google Scholar
• Brooks , C . 2002 . Introductory Econometrics for Finance , Cambridge : Cambridge University Press .
   Google Scholar
• Claessens , S , Demirguc-Kunt , A and Huizinga , H . 2001 . How does foreign entry affect domestic banking markets? . Journal of Banking and Finance , 25 : 891 – 912 .
   Web of Science ®Google Scholar
• Coelli , T , Prasada Rao , DS and Battese , GE . 1999 . An Introduction to Efficiency and Productivity Analysis , 2nd , Dordrecht : Kluwer Academic Publishers .
   Google Scholar
• Debreu , G . 1951 . The coefficient of resource utilization . Econometrica , 19 : 273 – 92 .
   Web of Science ®Google Scholar
• Denizer , CA , Dinç , M and Tarimcilar , M . 2000 . Financial liberalization and banking efficiency: evidence from Turkey . Journal of Productivity Analysis , 27 : 177 – 95 .
   Web of Science ®Google Scholar
• Dietsch , M and Lozano-Vivas , A . 2000 . How the environment determines banking efficiency: a comparison between French and Spanish banks . Journal of Banking and Finance , 24 : 985 – 1005 .
   Web of Science ®Google Scholar
• Farrell , MJ . 1957 . The measurement of productive efficiency . Journal of the Royal Statistical Society , 120 : 253 – 90 .
   Web of Science ®Google Scholar
• Favero , CA and Papi , L . 1995 . Technical efficiency and scale efficiency in the Italian banking sector: a non-parametric approach . Applied Economics , 27 : 385 – 96 .
   Web of Science ®Google Scholar
• Ferrier , GD and Lovell , CAK . 1990 . Measuring cost efficiency in banking: econometric and linear programming evidence . Journal of Econometrics , 46 : 229 – 45 .
   Web of Science ®Google Scholar
• Fries , S and Taci , A . 2005 . Cost efficiency of banks in transition: evidence from 289 banks in 15 post-communist countries . Journal of Banking and Finance , 29 : 82 – 110 .
   Web of Science ®Google Scholar
• Gilbert , RA and Wilson , PW . 1998 . Effects of deregulation on the productivity of Korean banks . Journal of Economics and Business , 50 : 133 – 56 .
   Google Scholar
• Grifell-Tatje , E and Lovell , C . 1996 . Deregulation and productivity decline: the case of Spanish savings banks . European Economic Review , 40 : 1281 – 303 .
   Web of Science ®Google Scholar
• Grigorian , DA and Manole , V . 2002 . Determinants of commercial bank performance in transition: an application of Data Envelopment Analysis , Policy Research Working Papers No. 2850 Washington, DC : The World Bank .
   Google Scholar
• Hao , J , Hunter , WC and Wang , WK . 2001 . Deregulation and efficiency: the case of private Korean banks . Journal of Economics and Business , 53 : 237 – 55 .
   Google Scholar
• Hardy , DC and Patti , EB . 2001 . Bank reform and bank efficiency in Pakistan , International Monetary Fund, Working Paper No. WP/01/138 Washington, DC : IMF .
   Google Scholar
• Hermes , N and Lensink , R . 2008 . Does financial liberalization influence saving, investment and economic growth? Evidence from 25 emerging market economies, 1973–1996, in Financial Development, Institutions, Growth and Poverty Reduction , Edited by: Guha-Khasnobis , B and Mavrotas , G . 164 – 89 . Basingstoke : Palgrave MacMillan .
   Google Scholar
• Hsiao , C . 1986 . Analysis of Panel Data , New York : Cambridge University Press .
   Google Scholar
• Hunter , WC and Timme , SG . 1995 . Core deposits and physical capital: a re-examination of bank-scale economic and efficiency with quasi-fixed inputs . Journal of Money, Credit and Banking , 27 : 165 – 86 .
   Web of Science ®Google Scholar
• Isik , I and Hassan , MK . 2003 . Financial deregulation and total factor productivity change: an empirical study of Turkish commercial banks . Journal of Banking and Finance , 27 : 1455 – 85 .
   Web of Science ®Google Scholar
• King , R and Levine , R . 1993 . Finance and growth: Schumpeter might be right . Quarterly Journal of Economics , 108 : 717 – 38 .
   Web of Science ®Google Scholar
• Koopmans , TC . 1951 . Efficient allocation of resources . Econometrica , 19 : 455 – 65 .
   Web of Science ®Google Scholar
• Kumbhakar , SC and Lovell , CA . 2000 . Stochastic Frontier Analysis , Cambridge and New York : Cambridge University Press .
   Google Scholar
• Kumbhakar , SC and Lozano-Vivas , A . 2001 . The effects of deregulation on the performance of financial institutions: the case of Spanish banks . Journal of Money, Credit and Banking , 33 : 101 – 21 .
   Web of Science ®Google Scholar
• Kumbhakar , SC and Sarkar , S . 2003 . Deregulation, ownership, and productivity growth in banking industry: evidence from India . Journal of Money Credit and Banking , 35 : 403 – 24 .
   Web of Science ®Google Scholar
• Laeven , L . 2003 . Does financial liberalization reduce financial constraints? . Financial Management , 32 : 5 – 35 .
   Web of Science ®Google Scholar
• Lensink , R and Hermes , N . 2004 . The short-term effects of foreign bank entry on domestic bank behaviour: does economic development matter? . Journal of Banking and Finance , 28 : 553 – 68 .
   Web of Science ®Google Scholar
• Lozano-Vivas , A , Pastor , JT and Hasan , I . 2001 . European bank performance beyond country borders: what really matters? . European Finance Review , 5 : 141 – 65 .
   Google Scholar
• Lozano-Vivas , A , Pastor , JT and Pastor , JM . 2002 . An efficiency comparison of European banking systems operating under different environmental conditions . Journal of Productivity Analysis , 18 : 59 – 77 .
   Web of Science ®Google Scholar
• Maudos , J , Pastor , JM and Pereze , F . 2002 . Competition and efficiency in the Spanish banking sector: the importance of specialization . Applied Financial Economics , 12 : 505 – 16 .
   Google Scholar
• McKinnon , RI . 1973 . Money and Capital in Economic Development , Washington, DC : The Brookings Institution .
   Google Scholar
• Patti , BE and Hardy , DC . 2005 . Financial sector liberalization, bank privatization, and efficiency: evidence from Pakistan . Journal of Banking and Finance , 29 : 2381 – 406 .
   Web of Science ®Google Scholar
• Shaw , ES . 1973 . Financial Deepening in Economic Development , New York : Oxford University Press .
   Google Scholar
• Wheelock , DC and Wilson , DC . 1995 . Evaluating the efficiency of commercial banks: does our view of what banks do matter? . Federal Reserve Bank of Saint Louis Economic Review , 77 : 39 – 53 .
   Google Scholar
• Williams , J and Nguyen , N . 2005 . Financial liberalization, crisis, and restructuring: a comparative study of bank performance and bank governance in South East Asia . Journal of Banking and Finance , 29 : 2119 – 54 .
   Web of Science ®Google Scholar
• World Bank . 1989 . World Development Report 1989 , Washington, DC : The World Bank .
   Google Scholar