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doi:10.1111/ecin.2009.47.issue-4

Cited by 6 publications

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“…Regarding margins, with the exception of specific cases such as Mexico, the interest differential of lending and deposit rates has remained relatively high throughout the period, at levels which are far removed from the narrower margins observed in advanced economies such as the USA or the Eurozone (Table 1). 2 Consequently, it seems that, in this respect, increased competition has not significantly affected regional banking practices (Gelos, 2009). It is also striking that foreign entities have displayed higher interest differentials than those of domestic entities', except for the years in the middle of the decade (Figure 2(a)).…”

Section: Background Information About the Lac Banking Sectormentioning

confidence: 95%

Assessing the performance of the Latin American and Caribbean banking industry: Are domestic and foreign banks so different?

Sáez-Fernández

Picazo‐Tadeo

Beltrán-Esteve

2015

Cogent Economics & Finance

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This paper studies the relative performance of domestic and foreign banks in the Latin American and Caribbean banking industry. Data Envelopment Analysis is used to compute technical efficiency scores for the years 2001 and 2013. Our main contribution is twofold. On the one hand, we assess performance at the level of the management of specific production factors. On the other hand, we distinguish program efficiency from managerial efficiency, which allows us to evaluate whether the differences in technical efficiency between national and foreign banks are due to the use of different technologies (program efficiency) or, conversely, differences in the managerial capacities of managers in both categories of banks (managerial efficiency). The results show that foreign banks are more efficient than domestic ones, and provide evidence that the greater efficiency of foreign banks is mostly due to the superior technology they use.The financial crises experienced by the Latin American and Caribbean region in the 1980s and the first half of the 1990s boosted reforms in the banking system aimed at adapting banks to international solvency standards, liberalizing their operational capacity, opening to international competition, and increasing their efficiency and productivity. Foreign banks were encouraged to enter these countries and were also meant to play a leadership role in the process of modernization; however, the role they actually played still remains a cause for debate. This paper contributes to this ongoing debate by analyzing performance in the regional banking industry. Our results show that foreign banks are managed more efficiently than their domestic counterparts; furthermore, this superiority is determined to a great extent by the use of more efficient technologies. Accordingly, our results appear to support the opening up of the Latin American industry, and the positive role of foreign banks in its modernization.

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Section: Background Information About the Lac Banking Sectormentioning

confidence: 95%

Assessing the performance of the Latin American and Caribbean banking industry: Are domestic and foreign banks so different?

Sáez-Fernández

Picazo‐Tadeo

Beltrán-Esteve

2015

Cogent Economics & Finance

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Extreme bounds of subjective well-being: economic development and micro determinants of life satisfaction

Bhuiyan

Szulga

2016

Applied Economics

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Dynamic heterogeneous panel analysis of the correlation between stock prices and exchange rates

Lee

Wang

2015

Economic Research-Ekonomska Istraživanja

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This article uses quarterly data from 29 countries, during the period from the first quarter of 2000 to the second quarter of 2011, and the Pooled Mean Group (PMG) method to estimate the dynamic heterogeneous panel data model and to verify the correlation between stock prices and exchange rates. According to empirical results, the stock market and the foreign exchange market have a long-run co-integration relationship. In the short-run, the stock market and the foreign exchange market are negatively correlated, supporting the viewpoints of the portfolio approach. However, using the error-correction adjustment process, the long-run relationship between the two is positive, supporting the results of the traditional approach. This study suggests that the viewpoints of both the portfolio approach and the traditional approach can co-exist through long-and short-run adjustments.

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Cited by 6 publications

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Assessing the performance of the Latin American and Caribbean banking industry: Are domestic and foreign banks so different?

Assessing the performance of the Latin American and Caribbean banking industry: Are domestic and foreign banks so different?

Extreme bounds of subjective well-being: economic development and micro determinants of life satisfaction

Dynamic heterogeneous panel analysis of the correlation between stock prices and exchange rates

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