[雙語翻譯]外文翻譯--發(fā)展中經(jīng)濟(jì)體銀行盈利能力的決定因素來自南亞銀行業(yè)的經(jīng)驗(yàn)證據(jù)（節(jié)選）

1、2300 英文單詞， 英文單詞，13500 英文字符，中文 英文字符，中文 3850 字文獻(xiàn)出處： 文獻(xiàn)出處：Fadzlan Sufian. Determinants of bank profitability in developing economies: empirical evidence from the South Asian banking sectors[J]. Contemporary South Asia, 2012

2、, 20(3):375-399.Determinants of bank profitability in developing economies: empirical evidence from the South Asian banking sectorsFadzlan SufianThis study seeks to examine the performance of 77 Bangladeshi, Sri Lankan,

3、and Pakistani commercial banks between 1997 and 2008. The empirical findings suggest that bank specific characteristics – in particular, liquidity, non-interest income, credit risk, and capitalization – have positive and

4、 significant impacts on bank performance, while cost is negatively related to bank profitability. As for the impact of macroeconomic indicators, the results suggest that economic growth has positive and significant impac

5、t, while inflation has no significant impact on bank profitability. During the period under study, the empirical findings indicate that private investment is positively related to bank profitability, while private consum

6、ption expenditure exhibits negative impact. However, the impact is not uniform across the countries studied.Keywords: bank profitability; panel regression analysis; South Asian banking sectors1. IntroductionFinancial mar

7、kets’ deregulation throughout the world has substantially transformed the economic behavior of many developing countries. New economic policies promoting free movement of capital play a major role in almost every country

8、 in the world. The Indian sub-continent is no exception and has been changing substantially. Although the South Asian countries began the deregulation process later than many other countries, significant deregulatory mea

9、sures have already been taken in many aspects of the financial markets.The banking sector is the backbone of the South Asian countries’ financial system and plays an important financial intermediary role (Edirisuriya 200

10、4; Perera, Skully, and Wickramanayake 2006). The dominance of banks in the South Asian countries can be explained by various factors, such as the underdevelopment of the capital markets, among others. Although the bankin

11、g sector is the single most important financial intermediary in South Asian countries, the banking intermedia- tion capacity has been relatively weak. From Table 1, it can be observed that the bank credit to GDP ratios i

12、n most South Asian countries are significantly lower than in other developing countries in Asia, i.e. China (126.18%), Malaysia (115.2%), and Thailand (130.6%), and pales in comparison with the 200% or better levels typi

13、cal in the developed market economies, i.e. Japan (293.0%), United Kingdom (212.3%), and United States (223.7%).Table 1. Domestic credit provided by the banking sector.Country 1997 1998 1999 2000 2001 2002 2003 2004 2005

14、 2006 20072008Bangladesh 29.94 30.28 31.78 34.18 47.78 50.44 49.65 51.86 54.91 58.13 58.28 59.38Bhutan 15.59 2.75 71.38 3.02 6.66 11.65 12.05 18.53 15.70 13.90 14.39 -India 46.13 46.55 49.24 53.02 54.65 58.86 57.44 59.28

15、 60.10 63.32 64.20 71.59Nepal 34.16 38.32 38.68 40.77 45.82 41.39 41.38 41.96 42.81 43.71 49.19 52.72Pakistan 52.12 51.45 49.13 41.60 37.74 36.65 37.06 41.05 43.90 42.87 45.92 -Sri Lanka 36.78 36.62 39.16 43.75 45.43 42.

16、24 40.72 43.30 43.63 47.13 45.02 42.84China 100.72 113.11 119.33 119.67 123.00 143.46 151.88 140.37 135.56 136.25 132.01 126.18Malaysia 221.81 216.56 197.25 179.23 189.17 184.78 180.86 149.51 136.22 119.18 113.43 115.22T

17、hailand 177.58 176.75 155.78 138.27 128.57 127.78 130.75 124.53 119.18 108.88 131.51 130.57Japan 276.68 298.44 309.92 308.91 299.47 299.19 307.27 303.21 312.78 304.93 294.42 292.99United Kingdom 122.35 119.74 121.77 130.

18、12 135.74 140.76 144.87 153.54 162.11 172.45 188.22 212.34United States 187.19 198.59 210.97 201.13 208.57 200.51 215.45 221.29 225.17 232.47 240.75 223.71The Pakistani financial sector consists of commercial banks, deve

19、lopment financial institutions, microfinance banks, non-bank financial institutions (e.g. leasing companies, housing finance companies, insurance companies, venture capital companies, mutual funds, etc.), modarabas (non-

20、bank Islamic financial institutions), and the stock exchange. As in most developing countries, the banking sector dominates the financial system and accounts for approximately two-thirds of the financial system’s total a

21、ssets. As at end-2008, there were four public sector commercial banks, 25 local private banks, seven foreign banks, and four specialized banks operating in the country’s banking sector with a total of 8774 branches. The

22、four largest commercial banks accounted for approximately 44% of the banking sector’s total assets indicating a moderate level of concentration within the Pakistani banking sector.The Sri Lankan financial system is made

23、up of banks, non-banking financial institutions (such as finance and leasing companies), specialized financial institutions (such as primary dealers in government securities and unit trusts), and contractual savings inst

24、itutions (such as the employees’ provident fund and insurance companies). As at end-2008, 23 licensed commercial banks (inclusive of 12 foreign banks) and 14 licensed specialized banks with more than 5600 branches nation

25、wide, operate in the Sri Lankan banking sector. Despite that, the Sri Lankan banking sector is highly concentrated, with the six largest licensed commercial banks – namely Bank of Ceylon, People’s Bank, Commercial Bank o

26、f Ceylon, Hatton National Bank, Seylan Bank, and Sampath Bank – accounting for approximately 65% of the banking sector’s total assets. In addition, the largest licensed specialized bank, The National Savings Bank, accoun

27、ts for an additional 10.5% of the banking sector’s total assets.3. Related studiesThe performance of the banking sector is a subject that has received a lot of attention in recent years. In general, empirical studies hav

28、e mainly followed two alternative approaches, namely the dealership and/or the firm theoretic approach. On the one hand, the dealership approach first proposed by Ho and Saunders (1981) and further extended by McShane an

29、d Sharpe (1985), Allen (1988), and Angbazo (1996) views banks as dynamic dealers, setting interest rates on loans and deposits to balance the asymmetric arrival of loan demands and deposit supplies. On the other hand, th

30、e firm theoretical approach originally developed by Klein (1971) and Monti (1972) views banking firms in a static setting where demand and supply of deposits and loans simultaneously clear both markets (see among others

31、Zarruck 1989; Wong 1997).Although the dealership approach acknowledges the effect of markets and institutions, these factors could not be directly incorporated into the model. To address this concern, the more recent stu

32、dies have also examined the influence of other internal (bank specific) and external (macroeconomic and market specific) factors on bank profitability. Furthermore, the dealership approach assumes that regardless of thei

33、r ownership, banks apply similar business strategies and are exposed to a similar set of profitability determinants. However, the assumption appears to be inappropriate, particularly for developing countries, which have

34、continuously embraced reforms and liberalization of the financial sector. To overcome the shortcomings, some studies augment the empirical specification of the dealership approach to capture the impact of bank ownership

35、by introducing dummy variables into the estimation models (Micco, Panizza, and Yanez 2007).The literature which examined the role played by management of resources in determining bank performance is vast. It is generally