Politická ekonomie 2019, 67(2):157-180 | DOI: 10.18267/j.polek.1235

Zmena produktivity vo viacročných obdobiach: Hicksov-Moorsteenov index, jeho dekompozícia a banková aplikácia

Martin Boďa
Univerzita Mateja Bela v Banskej Bystrici, Ekonomická fakulta

Productivity Change in Multi-year Periods: the Hicks-Moorsteen Index, Its Decomposition and Bank Application

Index number theory interprets the task of measuring productivity change as examining changes between two one-year periods (or other partial time instances). Nonetheless, in practice there arises a need to assess how productivity fared between two periods consisting of several years (or several partial time instances) and what drove its change. The paper focuses on such situations and has two interlinked goals. On the one hand, the paper formulates a methodology for measuring productivity change based on the Hicks-Moorsteen index and on the decomposition into basic determinants after Diewert and Fox. On the other hand, it demonstrates its usability in investigations of trends in productivity of the Slovak banking sector in the area of financial intermediation between the period 2005-2008 and the period 2009-2016. The results point to an improvement in financial intermediation productivity for most banks and an sector-wide upward shift in the production possibility frontier.

Keywords: productivity change, Hicks-Moorsteen productivity index, Fox-Diewert decomposition, multi-year periods, financial intermediation, Slovak banks,
JEL classification: D24, G21, O47

Received: December 27, 2017; Accepted: October 22, 2018; Published: February 1, 2019  Show citation

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Boďa, M. (2019). Productivity Change in Multi-year Periods: the Hicks-Moorsteen Index, Its Decomposition and Bank Application. Politická ekonomie, 67(2), 157-180. doi: 10.18267/j.polek.1235
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