An Empirical Study On Efficiency Of China's Policy Banks And Its Influencing Factors

The study of efficiency in policy banks involves three aspects: scale-efficiency, scope-efficiency, X-efficiency, and recently X-efficiency has become the focus of both internal and external researches. After analyzing the frontier theory, this paper selects the Data Envelopment Analysis (DEA) that belongs to the Non-parametric estimation method and its BCC model to analyze the X-efficiency in policy banks of China. The result shows: the overall X-efficiency level of our policy banks is very low, the China Development Bank is at the efficiency frontier, the efficiency of the Export-Import Bank of China is second to the China Development Bank's efficiency, and the efficiency of the Agricultural Development Bank of China is the worst.The diagnosis research on the decisive factors to bank efficiency is conducted in multivariate regression model. The result shows: The asset scale and the education level of labor have positive correlation coefficient with bank efficiency. As the virtual variables, the government subsidies have positive correlation with bank efficiency. The rate of operating expense and the income of bank's middle product have negative coefficient. While the capital adequacy, the non-performing ratio of loan, the return on asset and the ratio of loan to asset can not pass the statistical test.Based on the empirical analysis, and taking into account of the actual situation of our policy banks. Some suggestions are made to improve the efficiency of our policy banks. The essential condition is to improve our policy banks' system construction, the core is to change the profit model, and the master line is the optimization of bank government structure.