finding is that manufacturing shows little evidence of either labor productivity or multifactor productivity convergence … convergence results, the paper introduces a new measure of multifactor productivity which avoids many problems inherent to … traditional measures of total factor productivity when comparing productivity levels. The lack of convergence in manufacturing is …

main themes: first, stylized facts on banks' productivity developments and the measurement of productivity; second, sources … some studies limited, convergence of bank efficiency among countries but on average productivity improvement has been weak … efficiency, on the way how to measure productivity appropriately as well as on the future development of financial institutions …