Based on the seminal paper of Farrell (1957), researchers have developed several methods for measuring e fficiency. Nowadays, the most prominent representatives are nonparametric data envelopment analysis (DEA) and parametric stochastic frontier analysis (SFA), both introduced in the late 1970s....

One explanation for the poor performance of regulation in the recent financial crisis is that regulators had been captured by the financial sector. We present a micro-founded model with rational agents in which banks may capture regulators due to their high degree of sophistication. Banks can...

The paper estimates and compares cost efficiency of domestic and foreign banks in Thailand by using bank-panel data between 1995 and 2003. It also examines the effect of foreign bank entry on banking efficiency in Thailand since the significant acquisitions by foreign banks after the 1997...

We provide new micro evidence on the discussion about the relationship between financial development and welfare. Relying on the concept of local financial development our analysis focuses on three dimensions of household welfare: vulnerability to poverty, investment, and consumption smoothing....

Romania is a country with a high production potential for the vegetables and fruits, due in particular to the high natural fertility of soils and to the climate diversity. Besides the favorable conditions for the production of fruits and vegetables, it should be mentioned that Romania is a...

This study develops a policy model under the hierarchical administration system of the regional economy in Japan. In case of Japan, a hierarchy of national, prefectural, and municipal (city) administration exists, and a different regional policy in these each hierarchies can be set up....

This study develops an easy forecasting model using prefectural data in Japan. The Markov chain known as a stochastic model corresponds to the vector auto-regressive (VAR) model of the first order. If the transition probability matrix can be appropriately estimated, the forecasting model using...

This study examines intra-regional disparity and municipal merger in Fukuoka Prefecture. Fukuoka Prefecture (Fukuoka-ken) is a prefecture of Japan located on Kyushu Island. It faces the sea on three sides, bordering on Saga, Oita, and Kumamoto prefectures and facing Yamaguchi Prefecture across...

This paper presents a new perspective on the nature of fairness in bargaining by using verbal data from spontaneous team discussions and written statements on decision motives. Systematic content analysis proves a valuable source for providing new insights. The nature of fairness can be viewed...

A growing body of theoretical contributions and empirical studies has explored how the spatial distribution of public resources and governmental transfers is likely to be driven by efficiency and equity, as well as by political considerations. This article applies this line of research to...