In this dissertation, the microtheoretic measurement of technical change (TC) is developed as an alternative to the index number approach to total factor productivity (TFP) growth, incorporating recent theoretical developments in dynamic cost functions that shed light on the effects and role of...

This study investigates the relationship between production efficiency in financial intermediation and financial system size. The study predicts and tests for the existence of ""systemic scale economies"" (SSEs), whereby value-maximizing intermediaries operating in large systems are expected to...