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This paper examines the bank productivity growth and integration process for the 28 EU countries during three main phases of the financial crisis: the U.S. subprime crisis (2007-2008), the global financial crisis (2009-2010) and the sovereign debt crisis (2010-2012). We extend the Malmquist Productivity Index by applying an additive two-stage DEA model. This allows us to explore the sources of growth in different stages of production. Furthermore, we assess the integration of European banks by analyzing the β-convergence and σ-convergence of the twostage Productivity Index. Our results show a productivity growth during the U.S. subprime crisis, but a consistent decline during the global financial crisis. The loss of competitiveness of the European banking system is due to the drop of the performance stage and technical change. Finally, we find a strong convergence pattern during the financial crisis, mainly driven by the catch up process of some Eastern countries and the drop in performance of Western countries.

In this article, we apply an additive two-stage data envelopment analysis estimator on a panel of 20 countries with advanced economies for the time period 1990-2011 in order to create a composite sustainability efficiency index. We use a window-based approach in order to study the countries over the years. The sustainability efficiency index is decomposed into production efficiency and eco-efficiency indicators. The results reveal inequalities among the examined countries between the two stages. The eco-efficiency stage is characterized by large inequalities among countries and significantly lower efficiency scores than the overall sustainability efficiency and the production efficiency. Finally, it is reported that a country's high production efficiency level does not ensure a high eco-efficiency performance. Keywords:additive two-stage data envelopment analysis (DEA) advanced economies environment and development environmental metrics industrial ecology sustainability efficiency index

This paper examines the efficiency of 116 banks for 9 new EU members in Central and Eastern European (CEE) countries over the period [2004][2005][2006][2007][2008][2009][2010][2011][2012][2013][2014][2015]. We employ the Weight Assurance Region (WAR) and we treat deposits as an intermediate variable in a two-stage data-envelopment analysis model. We then expand the WAR model by including a window-based approach to take into account the patterns of efficiency over time. The results indicate a low level of efficiency over the entire period of analysis, especially for Eastern European and Balkan countries rather than Central European countries. Overall, we find that inefficiency in CEE countries is mainly driven by the profitability stage rather than the value added activity stage.