Helsinki 10.8.1940

Kirje

Productividad, competencia e innovación en la banca privada española (1900-1914)

This study investigates the productivity differences and its sourcesacross a set of banks during the last years of the liberal era of theSpanish banking system (1900-1914). These years were characterised bymajor qualitative and quantitative changes in the banking industry includinga sharp increase in the size of the system, in the number of firms, andin its regional distribution. Employing DEA productivity analysis andthe Malmquist index, we discover that these changes were accompanied bya generalised increase in the efficiency of least productive banks. Also,we observe that the crisis of some regional banking groups, like theCatalan, can be linked with its low productivity levels. In consequence,in the light of our productivity evidence, we conclude that the increasein competition was beneficial for the system because helped to the successof the most efficient banks.

Helsinki 8.3.1932

Kirje

Helsinki 28.5.1925

Kirje

Helsinki 26.11.1924

Kirje

Helsinki 5.7.1925

Kirje

Helsinki 15.6.1925

Kirje

Helsinki 7/3 1940

Kirje 7.3.1949

[Helsinki] 7 p:nä syyskuuta 1942

Kirje 7.9.1942

Helsinki 21.7.1924

Kirje