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Productivity growth in network models: an application to banking during the financial crisis

Kourtzidis, Stavros A; Matousek, Roman; Tzeremes, Nickolaos G.

Authors

Stavros A Kourtzidis

Roman Matousek

Nickolaos G. Tzeremes



Abstract

We construct Malmquist Productivity indices for two-stage processes. A two-stage data envelopment analysis model with an additive efficiency decomposition is used for the modeling of the two-stage process. We incorporate prior information into the analysis using the Weight Assurance Region model. This model offers advantages such as the weights representing the contribution of each stage to the overall process are always positive and we also can restrict them into a region given the available prior information. We extend this model from efficiency analysis to productivity analysis and we calculate Malmquist Productivity indices using four alternative decomposition approaches. The model is applied to a panel of banks in Central and Eastern European countries and productivity change is evaluated for three periods of the financial crisis. The alternative decompositions allow us to examine the various sources of productivity change during the financial crisis. Convergence patterns are also examined.

Journal Article Type Article
Publication Date Feb 7, 2018
Print ISSN 0160-5682
Electronic ISSN 1476-9360
Publisher Taylor & Francis
Peer Reviewed Peer Reviewed
APA6 Citation Kourtzidis, S. A., Matousek, R., & Tzeremes, N. G. (2018). Productivity growth in network models: an application to banking during the financial crisis. Journal of the Operational Research Society,
Keywords Data envelopment analysis; two-stage; productivity growth; transition economies; banking efficiency
Publisher URL https://www.tandfonline.com/doi/full/10.1080/01605682.2017.1421851

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