Economies d'échelle, économies de diversification et efficacité productive des banques luxembourgeoises

This study analyses productive efficiency in banking and scale and scope economies using stochastic frontier analysis. The European banking sector underwent great changes during the period under study (1995-2000), featuring a marked increase in competition. Empirical results suggest that Luxembourg-based banks in our sample are relatively efficient and that their good performance can in part be explained by independent variables in the cost function and by technological progress. Estimated scale elasticities do not provide evidence in favour of economies of scale. However, test results generally cannot reject the existence of cost-complementarities across the following output pairs: deposits-loans, loans-securities, and deposits-securities.

Mots Clés: X-efficiency; Stochastic Cost frontier; Banking; Panel data.

Classification JEL: G21, D21, C23.