Are U.S. Commercial Banks Too Big?

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dc.contributor.authorRestrepo, Diego A.
dc.contributor.authorKumbhakar, Subal C.
dc.contributor.authorSun, Kai
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.creator.emaildrestr16@eafit.edu.cospa
dc.creator.emailkkar@binghamton.eduspa
dc.creator.emailk.sun@aston.ac.ukspa
dc.date.accessioned2013-07-11T21:28:08Z
dc.date.available2013-07-11T21:28:08Z
dc.date.issued2013-02-02
dc.description.abstractThis paper presents new nonparametric measures of scale economies and TFP growth for U.S. banks. Unlike previous studies that use fully nonparametric models, our approach controls for time-invariant unobserved heterogeneity among banks in estimating returns to scale, TFP growth and its components. Using data for U.S. commercial banks from 2001 to 2010, we find evidence of significant scale economies across the entire bank size distribution. Returns to scale are persistent over time, decrease with bank size, and contribute significantly to TFP growth. Our results indicate that almost all small and medium size banks and most of the largest banks have strong economic incentives to keep growing. Thus, the consolidation of the banking industry is unlikely to retrench in the near future.eng
dc.identifier.jelD24
dc.identifier.jelG21
dc.identifier.jelC14
dc.identifier.urihttp://hdl.handle.net/10784/996
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordBankseng
dc.subject.keywordTFP growtheng
dc.subject.keywordReturns to scaleeng
dc.subject.keywordScale economieseng
dc.subject.keywordNonparametriceng
dc.titleAre U.S. Commercial Banks Too Big?eng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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