Martín-Oliver, Alfredo; Ruano, Sonia; Salas-Fumás, Vicente - In: Journal of Financial Intermediation 22 (2013) 4, pp. 688-712
The high levels of operating efficiency, profits, and market values for banks in the years before the financial crisis raise reasonable doubts about the accuracy of the assessments of the efficiency of banking intermediation. We examine the productivity growth in Spanish banks in the pre-crisis...