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The Effects of Privatization and Consolidation on Bank Productivity: Comparative Evidence from Italy and Germany (Fiorentino E., Vincenzo A., Heid F., Karmann A., Koetter M.)

Bank Efficiency Competition and Market Power Regulation State-Owned Banks

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.
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Libref/ Fiorentino E., Vincenzo A., Heid F., Karmann A., Koetter M. (2009) “The Effects of Privatization and Consolidation on Bank Productivity: Comparative Evidence from Italy and Germany”, Bank of Italy Temi di discussione (Working Paper) № 722, pp. 1-46
© Программирование — Александр Красильников, 2008
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