中国商业银行全要素生产率估算的改进研究——基于Hicks-Moorsteen指数方法的应用及比较

Study on Improvement of Total Factor Productivity Estimation of China' s Commercial Banks:An Application and Comparison of Hicks--Moorsteen Index Approach

采用Hicks-Moorsteen指数方法估算了中国商业银行全要素生产率,并将其分解为技术进步与技术效率,在此基础上与使用Malmquist指数方法得到的估计结果进行比较。研究结果发现:(1)2001—2013年中国商业银行全要素生产率的平均增长率为6.45%,这主要得益于技术效率的改善,而技术进步的贡献相对较小;(2)国有商业银行全要素生产率的增长要显著高于股份制商业银行,主要原因是技术效率的不同;(3)采用Hicks-Moorsteen指数方法得到的中国商业银行全要素生产率明显高于Malmquist指数方法的估计结果,与理论分析结论具有很好的一致性。

This paper has estimated total factor productivity growth and its components of China＇s commercial banks through the Hicks-Moorsteen index approach,which are compared with the results using Malmquist index approach. Empirical results show that average growth rate of total factor productivity is 6. 45% from 2001 to 2013,and the role of technical efficiency is relatively more important than technological change. Average growth rate of total factor productivity of State-owned commercial banks is significantly higher than joint-stock commercial banks,which is mainly due to the gap of technical efficiency.Average growth rate of total factor productivity using Hicks-Moorsteen index approach is obviously higher than results from Malmquist index approach. The above results are consistent with theoretical conclusions.