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Integration and efficiency convergence in EU banking markets

Casu, B and Girardone, C (2010) 'Integration and efficiency convergence in EU banking markets.' Omega, 38 (5). 260 - 267. ISSN 0305-0483

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Abstract

Evidence of financial integration and convergence are considered of importance in assessing the outcome of EU deregulation policies aimed at improving the efficiency and performance of banking sectors. This paper evaluates the recent dynamics of bank cost efficiency by means of data envelopment analysis (DEA). Borrowing from the growth literature, we apply dynamic panel data models (GMM) to the concepts of Β-convergence and σ-convergence to assess the speed at which banking markets are integrating. We also employ a partial adjustment model to evaluate convergence towards best practice. Results seem to provide supporting evidence of convergence of efficiency levels towards an EU average. Nevertheless, there is no evidence of an overall improvement of efficiency levels towards best practice. © 2009 Elsevier Ltd.

Item Type: Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Finance Centre
Depositing User: Claudia Girardone
Date Deposited: 21 Nov 2011 10:00
Last Modified: 04 Dec 2017 22:45
URI: http://repository.essex.ac.uk/id/eprint/1529

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