Jaap W.B. Bos
() and Peter C. van Santen
Jaap W.B. Bos: Maastricht University School of Business and Economics, Postal: P.O. Box 616, 6200 MD, Maastricht, The, Netherlands
Peter C. van Santen: Research Department, Central Bank of Sweden, Postal: Sveriges Riksbank, SE-103 37 Stockholm, Sweden
Abstract: To what extent has input reallocation contributed to aggregate productivity growth in the banking sectors of Europe and the United States? Interestingly, under-performing banks capture market share, while more productive banks lose market share, in particular in the US. The pattern of reallocation is markedly different between the geographical regions: European productivity has grown by reallocating inputs through the first half of the sample period, at the same time when reallocation diminished growth in the US. The long-run positive effects of creative destruction are especially apparent in the US, where reallocation is an important driver of increases in productivity.
40 pages, February 1, 2015
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