THE EVOLUTION OF EFFICIENCY IN COSTA RICAN BANKING SYSTEM 2005-2015: EVIDENCE FROM DATA ENVELOPMENT ANALYSIS.

JurisdicciónCosta Rica
Autor
Fecha01 Julio 2016

RESUMEN

En esta investigacion se estima el nivel de eficiencia tecnica y de escala para el sistema bancario costarricense para el periodo 2005-2015 mediante la metodologia de Analisis Envolvente de Datos (AED). Las estimaciones se realizan desde la perspectiva de rendimientos variables de escala con variables de holgura desarrollada por Banker, Charnes, y Cooper (1984) y rendimientos constantes de escala desarrollada por Charnes, Cooper, y Rhodes (1978). Los niveles de eficiencia se estiman anualmente de forma individual para cada entidad bancaria para obtener promedios para el sistema total, segmento privado y estatal. Los insumos y productos considerados el modelo fueron definidos de acuerdo al enfoque de intermediacion. Mediante la aplicacion de los modelos AED se concluye que a) no hay evidencia de mejoras en el nivel de eficiencia tecnica y de escala del sistema bancario durante el periodo analizado, b) los bancos mas eficientes fueron el Banco BCT y el Banco General, c) los bancos privados son en promedio mas eficientes que los estatales y d) los bienes de uso neto son el insumo con mayor nivel de holgura.

PALABRAS CLAVE: FRONTERA DE EFICIENCIA, EFICIENCIA TECNICA, BANCA, PROGRAMACION LINEAL, GESTION DE RECURSOS.

ABSTRACT

In this study the technical and scale efficiency of Costa Rican banking system is estimated for the 2005-2015 period, through the Data Envelopment Analysis (DEA). The estimations are within the approach of variable returns to scale with slacks developed by Banker, Charnes, and Cooper (1984) and the constant returns to scale approach developed by Chames, Cooper, and Rhodes (1978). Efficiency scores were estimated annually for each bank to get the average for state banks, private banks, and the whole system. The inputs and outputs considered in the DEA model were defined through the intermediation approach. Through the application of DEA was concluded that a) for the whole system there are no clear efficiency improvements during the period analyzed, b) the most efficient banks were Banco BCT and Banco General, c) private banks were on average more efficient than state banks and d) the goods of net use were, on average, the input with bigger slack.

KEYWORDS: EFFICIENCY FRONTIER, TECHNICAL EFFICIENCY, BANKING, LINEAR PROGRAMMING, RESOURCE MANAGEMENT.

  1. INTRODUCTION

    In this study is estimated the technical and scale efficiency of Costa Rican banking system for the 2005-2015 period, through the Data Envelopment Analysis (DEA). The estimations are within the approach of variable returns to scale with slacks developed by Banker, Charnes, and Cooper (1984) and the constant returns to scale approach developed by Charnes, Cooper, and Rhodes (1978). Efficiency scores were estimated annually for each bank to get the simple average for state banks, private banks, and the whole system. The inputs and outputs considered in the DEA model were defined through the intermediation approach.

    The study of efficiency for the Costa Rican banking has been developed mostly with the intermediation margin approach and some financial ratios, omitting efficiency perspectives such as the technical and scale. For instance, Camacho and Mesalles (1994), estimated the efficiency levels through several margin measures for the 1987-1992 period. Loria (2013), followed the same approach for the 1988-2013 period, determining margins by currency. Finally, Villamichel (2015) follows the same method than previous authors for the period 1995-2015, nevertheless, added the analysis of the administrative expense to assets ratio.

    The application of DEA to Costa Rican banking is entirely new; although, the study follows the methodological framework applied by several authors to non-financial research. Some of them are, Xirinachs (2012) who estimated bayesian DEA models for the first level of health attention in the Caja Costarricense del Seguro Social (CCSS), she found out that for the period 2004-2010 the average technical efficiency was between 83.58% and 110.29%, even some of the health areas reached super efficiency levels. Morera-Salas (2015) estimated technical efficiency of Costa Rican hospitals for the 2012-2013 period; the author concluded that 70% of hospitals had the margin to improve resources management. In an application oriented to environmental economics, Sneessens (2011), estimated technical efficiency for 37 Dos Pinos dairy bovine farms, the author concluded that the farms could reduce environmental impact by 20.6% parallel with an 18.8% cost reduction. And Segura, Loaiza, and Valverde (2015), estimated the technical efficiency of the municipal aqueducts in Costa Rica.

    Although the DEA method has not been applied to financial economics in Costa Rica, it has been widely used in other regions. For example, Pirateque, Pineros and Mondragon (2013) use the DEA for studying the technical, cost and allocative efficiency for the Colombian banking system for the 2000-2012 period. The focus of the survey is on individual production functions to incorporate several financial inputs and outputs. The authors conclude that in the first years of 2000 decade, the efficiency levels were...

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