Deregulation, Entry of Foreign Banks and Bank Efficiency in Australia

This study considers the efficiency of banking in Australia during the post-deregulation period 1988-2001. Since 1986 restrictions upon foreign bank entry and foreign ownership have been affectively abolished. Using Data Envelopment Analysis (DEA) and Malmquist Indices, we find that the new foreign banks are more (input) efficient than domestic banks, mainly due to their superior scale efficiency. However, this superior efficiency did not necessarily result in superior profits. Our results are consistent with the limited global advantage hypothesis of Berger et al (2000). We argue that the major Australian banks have used size as a barrier to entry to the new entrants in the post-deregulation period. Furthermore, bank efficiency seems to have increased post-deregulation and the competition resulting from diversity in bank types was important to prompt improvements in efficiency. Finally, the recession of the early 1990s resulted in a distinct shift in the process of efficiency changes.foreign banks, deregulation, data envelopment analysis, Malmquist indices

What Determines Differences in Foreign Bank Efficiency? Australian Evidence

This study applies parametric distance functions to estimate the efficiency of foreign banks in Australia, and subsequently employs extreme bounds analysis to establish the determinants of foreign bank efficiency that are robust to model specification. The limited global advantage hypothesis of Berger et al (2000) is supported. Following clients is found to reduce the efficiency of the profit-creation process. The market share of the incumbent banks acts as a barrier to entry to efficiency in the retail market, with acquisition of a domestic bank reducing this effect. Internet-based bank product delivery reduces the efficiency of profit creation in the initial phases of operation, and parent profits do not improve efficiency in the host market.foreign bank efficiency, distance functions, extreme bounds analysis, barriers to entry, following clients

Temporal and spatial evolution of a waxing then waning catastrophic density current revealed by chemical mapping

We reconstruct the behavior of a catastrophic sustained radial pyroclastic density current as it waxed then waned during its brief lifespan. By subdividing the deposit into 8 time slices using a chemical tracer, we show that the sustained current initially was topographically restricted, but that its leading edge advanced in all directions, encroaching upon and gradually ascending hills. During peak flow the current reached its maximum extent and overtopped all topographic highs. After this, and while the current direction from source was maintained, the leading edge gradually retreated sourceward. High-resolution analysis of the depositional architecture reveals how the flow dynamics evolved and runout distance of the sustained density current rapidly increased then decreased, reflecting the dominant influence of changing mass flux, as demonstrated in numerical models but not previously distinguished in a natural deposit

Comprehensive Medication Management: Implications for the Patient and Pharmacist

Since 1979, state pharmacy practice laws have begun to allow pharmacists to provide advanced levels of care in collaboration with prescribers. These might be termed medication therapy management, collaborative practice, comprehensive medication management and other variations. Invariably, pharmacists working closely with prescribers and patients in care of chronic disease have achieved dramatic results including improvement in surrogate markers, decreased rates of secondary large organ disease, decreased mortality, decreased hospitalizations, and as a result decreased spending.1-28 This paper will discuss the profound impact of advanced practice models on patient care and the health care system, the current status of New York’s collaborative drug therapy management law, the comprehensive medication management proposal in Governor Cuomo’s fiscal year 2018 Budget bill, and its potential impact on morbidity and mortality when applied to chronic disease