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Essays on financial intermediation (...

Asaftei, Gabriel.

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Essays on financial intermediation (Romania).

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on financial intermediation (Romania)./
Author:	Asaftei, Gabriel.
Description:	112 p.
Notes:	Source: Dissertation Abstracts International, Volume: 65-11, Section: A, page: 4288.
Contained By:	Dissertation Abstracts International65-11A.
Subject:	Economics, Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3153766
ISBN:	9780496145478

Essays on financial intermediation (Romania).
Asaftei, Gabriel.

Essays on financial intermediation (Romania). - 112 p.

Source: Dissertation Abstracts International, Volume: 65-11, Section: A, page: 4288.

Thesis (Ph.D.)--State University of New York at Binghamton, 2005.

The first essay "The Development and Efficiency of Banking in a Transitional Economy: The Case of Romania" analyses the effects of regulation and restructure on the cost efficiency and total factor productivity (TFP) of banks in the context of a transitional economy. We used a disaggregated panel of Romanian banks for the period 1994--2002 to assess the impact of regulation, managerial practices and general economic environment on cost inefficiencies and estimate the cost of distortions generated by the new regulation. The cost inefficiencies, price distortions and TFP growth were determined using a relatively new model which combines the stochastic production frontier with the shadow price model. We show that the new regulation implemented by the central bank had little effect on reducing the cost inefficiencies while some of the regulatory tools used by the central bank constrained the growth of banks and increased their operating cost. We also show that the inefficiencies generated by the regulatory distortions negatively affected the TFP growth rates of all types of banks.

ISBN: 9780496145478Subjects--Topical Terms:

626650
Economics, Finance.

Essays on financial intermediation (Romania).
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100 1 $a Asaftei, Gabriel. $3 1912935
245 1 0 $a Essays on financial intermediation (Romania).
300 $a 112 p.
500 $a Source: Dissertation Abstracts International, Volume: 65-11, Section: A, page: 4288.
500 $a Adviser: Subal C. Kumbhakar.
502 $a Thesis (Ph.D.)--State University of New York at Binghamton, 2005.
520 $a The first essay "The Development and Efficiency of Banking in a Transitional Economy: The Case of Romania" analyses the effects of regulation and restructure on the cost efficiency and total factor productivity (TFP) of banks in the context of a transitional economy. We used a disaggregated panel of Romanian banks for the period 1994--2002 to assess the impact of regulation, managerial practices and general economic environment on cost inefficiencies and estimate the cost of distortions generated by the new regulation. The cost inefficiencies, price distortions and TFP growth were determined using a relatively new model which combines the stochastic production frontier with the shadow price model. We show that the new regulation implemented by the central bank had little effect on reducing the cost inefficiencies while some of the regulatory tools used by the central bank constrained the growth of banks and increased their operating cost. We also show that the inefficiencies generated by the regulatory distortions negatively affected the TFP growth rates of all types of banks.
520 $a In the second essay "The Welfare Cost of Inflation in a Shopping Time Model with Currency and Interest Bearing Deposits", we extended the shopping time model of Lucas (2000) and Simonsen and Cysne (2001) by explicitly modeling the production of goods and financial services that allows for an elastic supply of deposits. We calibrate the model and numerically estimate the magnitude of the inflation costs under various policy changes. We found that by introducing interest-bearing deposits, the welfare cost is lower that in Lucas (2000) framework and furthermore, by allowing the household to elastically produce deposits, the welfare cost is smaller than when the supply of deposits is inelastic as in Simonsen and Cysne (2001). In our model, as inflation increases, the household will shift away from cash towards shopping more and towards interest-bearing deposits if the two are substitutes. An increase in shopping time and in time spent producing deposits, however, decreases the time spent on producing consumption goods and decreases welfare. The magnitude of this decrease depends on the elasticity of substitution between cash and interest bearing assets and own-price elasticity.
590 $a School code: 0792.
650 4 $a Economics, Finance. $3 626650
650 4 $a Business Administration, Banking. $3 1018458
690 $a 0508
690 $a 0770
710 2 0 $a State University of New York at Binghamton. $3 737493
773 0 $t Dissertation Abstracts International $g 65-11A.
790 1 0 $a Kumbhakar, Subal C., $e advisor
790 $a 0792
791 $a Ph.D.
792 $a 2005
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3153766