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Financial development and productive inefficiency: a robust conditional directional distance function approach

Mallick, Sushanta; Matousek, Roman; Tzeremes, Nickolaos G.

Authors

Sushanta Mallick

Roman Matousek

Nickolaos G. Tzeremes



Abstract

This paper examines whether the level of financial development helps lower countries’ inefficiency using time-dependent robust conditional directional distance functions in a sample of 91 countries over 1970–2011. The overall results reveal that the effect of financial development on countries’ productive inefficiency is highly nonlinear, and depends on countries’ income levels, suggesting that higher levels of financial development are enhancing more countries’ catching-up ability rather than their technological change.

Citation

Mallick, S., Matousek, R., & Tzeremes, N. G. (2016). Financial development and productive inefficiency: a robust conditional directional distance function approach. Economics Letters, 145, https://doi.org/10.1016/j.econlet.2016.06.019

Journal Article Type Article
Acceptance Date Jun 12, 2016
Online Publication Date Jun 16, 2016
Publication Date Aug 1, 2016
Deposit Date May 9, 2018
Publicly Available Date Mar 28, 2024
Journal Economics Letters
Print ISSN 0165-1765
Electronic ISSN 0165-1765
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 145
DOI https://doi.org/10.1016/j.econlet.2016.06.019
Keywords Financial development; Technological change; Technological catch-up; Productive inefficiencies; Robust directional distance functions
Public URL https://nottingham-repository.worktribe.com/output/975562
Publisher URL https://www.sciencedirect.com/science/article/pii/S0165176516302233?via%3Dihub

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