Cost Structure, Technological Change and Productivity Growth in the Greek Banking Sector

Posted: 25 Jun 2008

See all articles by Nicholas Apergis

Nicholas Apergis

University of Piraeus; University of Derby

Anthony N. Rezitis

affiliation not provided to SSRN

Date Written: 2004


The purpose of this paper is fourfold: first to empirically investigate the cost structure of the Greek banking sector, second to provide measures of economies (diseconomies) of scale, third to quantify technical change and its sources, and fourth to measure total factor productivity growth and identify its sources. Bank production is presented with two different approaches (i.e. the 'intermediation' and the 'production') which are used in specifying a translog cost function. The two different translog cost models are estimated through the full information maximum likelihood method of estimation on pooled time series and cross sectional data. The results obtained are not significantly affected by model specification. Both models indicate significant economies of scale and negative annul rates of growth in technical change and in total factor productivity.

Keywords: Banks, Cost structure, Economies of scale, Technical change, Productivity growth, Greece

JEL Classification: G24, G21

Suggested Citation

Apergis, Nicholas and Rezitis, Anthony N., Cost Structure, Technological Change and Productivity Growth in the Greek Banking Sector (2004). International Advances in Economic Research, Vol. 10, No. 1, 2004. Available at SSRN:

Nicholas Apergis

University of Piraeus ( email )

Karaoli and Dimitriou 80
Piraeus, Attiki 18534

University of Derby ( email )

Kedleston Road
Derby, Derbyshire DE22 1GB
United Kingdom

Anthony N. Rezitis (Contact Author)

affiliation not provided to SSRN

Register to save articles to
your library


Paper statistics

Abstract Views
PlumX Metrics