European business services has witnessed about two decades of virtual productivity stagnation. The paper investigates whether this is caused by weak dynamic market selection. The time pattern of scale-related inefficiencies is used as an indicator for the effectiveness of market selection. We...

There are a number of international initiatives that have the goal of improving or maintaining financial stability by strengthening financial infrastructure. The Committee on Payment and Settlement Systems (CPSS) contributed to this process through its work on developing Core Principles for...

The paper proposes a new way of analysing the efficiency of dynamic market selection, based on the persistence of scale economies. The persistence of scale-related inefficiencies is used as an indicator for the effectiveness of market selection. We use a DEA method to construct the productivity...

The paper proposes a new way of analysing the efficiency of dynamic market selection, based on the persistence of scale economies. The new methodology is used to investigate the causes of stagnating productivity growth in EU business services. An efficient market ensures that more productive...

The paper investigates whether scale effects, market structure, and regulation determine the poor productivity performance of the European business services industry. We apply parametric and nonparametric methods to estimate the productivity frontier and subsequently explain the distance of...

This main sections of this annotated bibliography were prepared by the author between 1998 and 2002. The revisions undertaken until January 2006 are selective and do not claim to be complete. The paper has no official character and merely reflects the views of the author. Its purpose is to...

Standards and the global framework. The BIS as host of standard setting bodies. Legal impact of standards.

Using data from 11 EU countries, the paper investigates the impact of scale economies on labour productivity in European business services. Moreover, it analyses whether the incidence of scale sub-optimality is related to characteristics of the market or to national regulation characteristics....

Text presented at the 19ª Asamblea Anual del Grupo Regional de América Latina y el Caribe (GRULAC), of the World Savings Banks Institute, La Habana, Cuba, 4-5 November 2013. It mentions some of the more recent international reform initiatives in particular those linked to the Basel Committee...