The existing Chinese banking system was born out of a state-planning framework focussed on the funding of state-owned enterprises. Despite the development of a modern banking system, numerous studies of Chinese banking point to its high level of average inefficiency. Much of this inefficiency...

A bootstrap method for Malmquist index estimates of productivity growth is constructed with appropriate confidence intervals. This paper adjusts for the quality of the output by accounting for the nonperforming loans (NPLs) on balance sheets and tests the robustness of the results by examining...

This study examines the productivity growth of the nationwide banks of China and a sample of city commercial, banks for the eleven years to 2007. Estimates of total factor productivity growth are constructed with appropriate confidence intervals, using a bootstrap method for the Malmquist index....

This study examines the productivity growth of the nationwide banks of China and a sample of city commercial, banks for the ten years to 2007. Using a bootstrap method for the Malmquist index, estimates of the total factor productivity growth are constructed. Five different models of inputs and...

Macro models generally assume away heterogeneous welfare in assessing policies. We investigate here within two aggregative models - one with a representative agent, the other a long-used forecasting model of the UK - whether allowing for differences in welfare functions (specifically between...

It has been claimed that an increase in the ratio of VAT reclaimed to VAT paid is an indicator of increasing non-compliance. By examining this ratio, this paper evaluates the potential for VAT non-compliance in the Restaurant and Take-out, Clothing and Footwear, Furniture and Floor-coverings,...

This paper has three objectives. First, it examines the link between the term spread (difference between long-term and short-term rate of interest) and GDP growth in the Korean economy for the period 1980-1999. Second, it tests for the independent information content of the term spread by...