This article examines the cost efficiency and scale economies of insurance firms in the Turkish insurance industry over a 15-year period, 1990-2004. Using the stochastic cost frontier model, cost efficiency scores and scale economies were estimated for each firm in the sample. The results show...

This paper analyses cost and profit efficiencies in commercial banking in the eight Central and Eastern European countries that became new members to the European Union. Common stochastic cost and profit frontiers with country-specific variables are employed in order to take into account...

This paper examines the real and nominal convergence between the Central and Eastern European countries and the EU, using fractional cointegration analysis for the period 1980-2003. Fractional cointegration analysis is a flexible methodology, which allows for more subtle forms of mean reversion....