Deregulation, Ownership, and Productivity Growth in the Banking Industry: Evidence from India
用影子成本函数法分析印度银行业放松管制与全要素生产率增长的关系，发现放松管制后生产率并未如预期提升，私营银行因产出自由扩张而改善，但国有银行反应不佳。
This paper analyzes the relationship between deregulation and total factor productivity (TFP) growth in the Indian banking industry using a generalized shadow cost function approach. TFP growth is decomposed into a technological change, a scale, and a miscellaneous component. A disaggregated panel data analysis, using the population of public and private banks over 1985-96 that covers both pre-and post-deregulation periods, indicates that a significant decline in regulatory distortions and the anticipated increase in TFP growth have not yet materialized following deregulation. While private sector banks have improved their performance mainly due to the freedom to expand output, public sector banks have not responded well to the deregulation measures.