ECONOMIES OF SCALE IN THE NATIONAL BANK OF GREECE
Abstract
THIS PH.D THESIS INVESTIGATES THE QUESTION OF ECONOMIES OF SCALE IN A SINGLE BANKING FIRM WHICH PRODUCES SIMULTANEOUSLY MANY PRODUCTS (DEPOSITS, LOANS, AXILLARY SERVICES) WITH THE USE OF MANY INPUTS (CAPITAL, LABOUR, MANAGEMENT). WE ADOPTED ECONOMETRIC ANALYSIS AND WE USED FLEXIBLE TANSLOG TAYLOR EXPANSION SERIES PRODUCTION AND COST FUNCTIONS. THE MAIN RESULTS OF OUR RESEARCH HAVE AS FOLLOWING: - THE PRODUCTION PROCESS OF THE BANK WAS CHARACTERIZED BY JOINTNESS AND NON-SEPARABILITY. - THE COST CURVES PER PRODUCT WERE, IN GENERAL, U-SHAPED, INDICATING BOTH POSITIVE AND NEGATIVE ECONOMIES OF SCALE, - SUBSTANTIAL ECONOMIES OF SCOPE WERE DETECTED, - NEITHER TECHNOLOGY, NOR COMPETITION OR THE GEOGRAPHICAL FACTOR SEEM TO AFFECT THE BEHAVIOUR OF THE LTC. - BY MEASURING THE PRODUCTIVITY OF THE BRANCHES OF THE NETWORK, IT WAS CONCLUDED THAT THE MOST PRODUCTIVE ONES WERE THOSE EMPLOYING 6-10 EMPLOYERS, EACH.
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