Fethi, M.D., Shaban, M. and Weyman-Jones, T. (2012) Turkish Banking Recapitalization and the Financial Crisis: An Efficiency and Productivity Analysis. Emerging Markets Finance and Trade, 48 (S5). 76 - 90. ISSN 1540-496X
Abstract
This paper describes procedures in panel data econometrics for efficiency measurement and productivity decomposition in the banking system of an emerging economy with a special focus on the period following a financial crisis. In the recovery from a banking crisis, policymakers attempt to recapitalize the banking system, but this has the potential to impose significant costs. Turkey has restructured the banking system through recapitalization, and this has directly caused the shadow return on equity to turn negative. This negative shadow return on equity is an offset to total factor productivity change, and there is an important policy lesson that a successful recapitalization has a cost in restricting the banking system's overall productivity growth.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Editors: |
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Copyright, Publisher and Additional Information: | © 2013 M.E. Sharpe, Inc. All rights reserved. |
Keywords: | banking; cost function; panel data; stochastic frontier analysis |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 05 Feb 2016 10:55 |
Last Modified: | 05 Feb 2016 11:10 |
Published Version: | http://dx.doi.org/10.2753/REE1540-496X4806S506 |
Status: | Published |
Publisher: | Taylor & Francis |
Refereed: | Yes |
Identification Number: | 10.2753/REE1540-496X4806S506 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:92016 |