Post-Crisis Productivity Change in Non-Bank Financial Institutions: Efficiency Increase or Technological Progress?

2009 ◽  
Vol 14 (2) ◽  
pp. 124-154 ◽  
Author(s):  
Fadzlan Sufian ◽  
Muhd-Zulkhibri Abdul Majid
Keyword(s):  
Financial Institutions ◽  
Technological Progress ◽  
Productivity Change ◽  
Efficiency Increase

scholarly journals Sources of Pakistan's Economic Growth

1986 ◽  
Vol 25 (4) ◽  
pp. 573-589 ◽  
Author(s):  
Nadeem A. Burney
Keyword(s):  
Economic Growth ◽  
Quantitative Study ◽  
Development Policy ◽  
Technological Progress ◽  
Institutional Factors ◽  
Growth Accounting ◽  
Productivity Change ◽  
Important Method ◽  
Factors Of Production

Economic growth is one of the most important objectives of development policy in almost every country. It depends on the historical accumulation of primary factors of production, e.g. labour and capital, and on technological progress and a combination of socio-political and institutional factors. Owing to interactions among these different factors, it is difficult to delineate the role of each factor in economic growth. It is precisely because of this that a systematic and quantitative study of the sources of growth is indispensable. The growth-accounting framework, introduced by Solow [15] to measure productivity change and subsequently extended by Jorgenson and Griliches [5], Christensen and Jorgenson [1], Hulten [4] and Denison [2], provides an important method with which to study the growth experience of a country.

A NEW MALMQUIST PRODUCTIVITY INDEX BASED ON SEMI-DISCRETIONARY VARIABLES WITH AN APPLICATION TO COMMERCIAL BANKS OF CHINA

2011 ◽  
Vol 10 (04) ◽  
pp. 713-730 ◽  
Author(s):  
GONG-BING BI ◽  
JING-JING DING ◽  
YAN LUO ◽  
LIANG LIANG
Keyword(s):  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Mixed Integer ◽  
Productivity Change ◽  
Data Envelopment ◽  
Bank Of China ◽  
Proposed Model ◽  
Efficiency Increase ◽  
Integer Linear Model ◽  
Changes Over Time

The Malmquist productivity index studies productivity change, that is, the technical progress or regress together with the efficiency changes over time. In a nonparametric framework, the index can be estimated by data envelopment analysis (DEA). In this paper, first all inputs are divided into three groups, namely, discretionary variables, nondiscretionary variables, and semi-discretionary variables, and then a mixed integer linear model is proposed to deal with semi-discretionary variables. The proposed models consider not only the properties of semi-discretionary inputs, but also the relationship between them and other inputs. By introducing such a relationship and the preferences of decision-makers (DMs), the models aid DMs in generating efficiency scores and finding proper benchmarking points. Finally, the Malmquist productivity index combining the proposed model is computed and illustrated by an empirical application to the evaluation of 17 branches of Bank of China in Anhui Province. The results show a slight decrease in productivity during the year 2007/2008, and the productivity change positively during 2008/2009 due largely to efficiency increase.

Explaining International Productivity Differences / Erklärung internationaler Produktivitätsunterschiede

2003 ◽  
Vol 223 (6) ◽  
Author(s):  
Jens J. Krüger ◽  
Uwe Cantner ◽  
Horst Hanusch
Keyword(s):  
Technological Progress ◽  
Malmquist Index ◽  
Efficiency Analysis ◽  
Growth Accounting ◽  
Productivity Change ◽  
Factor Productivity ◽  
Efficiency Change ◽  
Nonparametric Approach ◽  
Catching Up ◽  
Relative Productivity

SummaryIn this paper we add new results to the investigation of productivity levels rather than productivity changes, as proposed by Hall/Jones (1996, 1997, 1999). To obtain measures of relative productivity levels we depart from traditional growth accounting and calculate the Malmquist index of total factor productivity change using a nonparametric approach to efficiency analysis for a broad sample of 87 countries. This index can be decomposed into measures of technological progress and efficiency change that are cumulated to level measures. The so obtained heterogeneity in productivity levels is then related to several determinants of technology driven growth by regression estimates. Doing this (a) we are able to provide confirmation of the validity of the decomposition of the Malmquist index and (b) we find innovation-related explanations for international technological frontier shifts and imitative catching up and falling behind.

Measuring total factor productivity change of microfinance institutions in India using Malmquist productivity index

2018 ◽  
Vol 12 (1) ◽  
pp. 105-130 ◽  
Author(s):  
Dilip Ambarkhane ◽  
Ardhendu Shekhar Singh ◽  
Bhama Venkataramani
Keyword(s):  
Total Factor Productivity ◽  
Financial Institutions ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Scale Efficiency ◽  
Productivity Change ◽  
Microfinance Institutions ◽  
Factor Productivity ◽  
Content Type ◽  
The Poor

PurposeMicrofinance institutions (MFIs) provide small loans and other financial services to the poor. These institutions are established for helping the poor to raise income levels and to reduce poverty. Recently, MFIs are required to reduce their dependence on grants and subsidies. Consequently, they face conflicting objectives of improving reach and profitability. These can be achieved by improving productivity. This paper aims to investigate productivity change in 21 major MFIs in India which are rated by Credit Rating and Information Services of India Limited in 2014.Design/methodology/approachThis paper attempts to examine total factor productivity change in 21 major Indian MFIs during the period from 2014 to 2016 using Malmquist productivity index. The inputs and outputs are selected considering objectives of outreach and financial sustainability. The authors have categorized MFIs in three categories, namely, large, medium and small, depending on asset size.FindingsIt is revealed that large MFIs are able to catch up with industry best practices by improving their systems and processes, but they need to improve scale efficiency. The Reserve Bank of India has recently initiated a policy of granting banking licenses to those financial institutions which have good outreach and are financially strong. It can be used for shortlisting MFIs before granting permission to operate as banks. The method can also be used for benchmarking them for productivity. It can also be replicated in other countries.Originality/valueIn India, MFIs are playing important role in economic development by providing microcredit to the poor. However, very few studies have been undertaken regarding productivity of MFIs in India. The present study intends to fill this gap. It will facilitate benchmarking of MFIs as competitive and sustainable financial institutions catering to the requirements of small borrowers.

Identifying sources and trends for productivity growth in a sample of Queensland broad-acre beef enterprises

2011 ◽  
Vol 51 (5) ◽  
pp. 443 ◽  
Author(s):  
Daniel Gregg ◽  
John Rolfe
Keyword(s):  
Technical Efficiency ◽  
Total Factor Productivity ◽  
Productivity Growth ◽  
Technological Progress ◽  
Positive Influence ◽  
Total Factor Productivity Growth ◽  
Productivity Change ◽  
Factor Productivity ◽  
Average Growth ◽  
Farm Business

The research reported in this paper considers the question of the possible sources of productivity change in the broad-acre beef sector in northern Australia over the last decade. Analysis is conducted over the components of total factor productivity growth for a subset of broad-acre beef production enterprises in Queensland. Specifically we consider the contributions of technological progress, scale changes (changes in the ‘size’ of an enterprise), and technical efficiency (how efficiently an enterprise combines their inputs to produce output) changes to total factor productivity growth using an index based on a decomposition of productivity change. The analysis employed a form for the production technology, which allowed for linear technological progress over time, accounted for rainfall and differences in land types and allowed for the testing of a range of sources of efficiency change. Results suggested that productivity growth within the sample was strong between 1999 and 2008 averaging 3.8% per year. The majority of this growth appeared to originate from technological progress (average growth of 2.7% per year) but there is the possibility that sample-leakage effects caused relatively low estimated contributions from technical efficiency growth (averaged 1.2% per year). Participation in a privately operated farm-business auditing program appeared to have a positive influence on enterprise technical efficiency.

Evolving Financial Institutions in Veblen's Business Enterprise System

1993 ◽  
Vol 15 (2) ◽  
pp. 249-264 ◽  
Author(s):  
J. Patrick Raines ◽  
Charles G. Leathers
Keyword(s):  
Financial Institutions ◽  
Technological Progress ◽  
Recent Case ◽  
Enterprise System ◽  
Business Enterprise ◽  
Internal Development ◽  
Previous Time ◽  
Time Periods ◽  
Social Habits ◽  
Modern Era

Thorstein Veblen's theory of institutions has often been interpreted as explaining that institutions (social habits) are formed in previous time periods under the influence of earlier states of technology. Accordingly, in the modern era institutions are “static, backward looking, and resistant to change, alterations…occurring only under pressure from the dynamic of technological progress” (Rutherford 1984, p. 331). As a recent case in point, R. W. Ault and R. B. Ekelund (1988, p. 438; see also p. 435) stated that Veblen's “view of habits was an inert and exogenous view.” Malcolm Rutherford (1984) has noted that Veblen described several processes of internal development of institutions within a system governed by a given logic, e.g., the business enterprise system under the logic of pecuniary values.

scholarly journals Malmquist indices of productivity change in Botswana's financial institutions

2009 ◽  
Vol 11 (1) ◽  
pp. 28 ◽  
Author(s):  
Boitumelo Moffat ◽  
Abbas Valadkhani ◽  
Charles Harvie
Keyword(s):  
Financial Institutions ◽  
Productivity Change ◽  
Malmquist Indices
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