???? ??? ???? ??? ?? ??? (An Economic Analysis of Banking Efficiency and Proposed Reforms Digital Convergence)

???? ??? ??? ??? ?? ??? 1999-2004? ???? ?????????, 2005-2006??? ??????? ???? ???, ???? ?? ?????? ??? 1999-2005? ??? ??? ?? ??? ???? 2006?? ???? ?????. 2003- 2005? ??? ??? ??? ???? ??????, ?????? ??????? ????? ?? ???? ????. ???, ?????? ??? ??? ???? ????? ?? ??? ??? ???? ????? ?????? ??????? ?????. 2001? ??? ??? ??? ?????? ??? ????? ???? ??? ??? ???. ??? ?? ?? ????, 2? ????? ????? ??, 3? ?????? ????? ??, ??? ???????? ??? ??? ??, ??????? ?? ? ?????? ?? ??? ?? ??? ??? ??? ?????.

This paper analyzed the efficiency of Korean commercial banking by measuring various efficiency scores and Malmquist total factor productivity change indices (MPI) by means of input-oriented data envelopment analysis(DEA). The core results of the analysis and their implication for banking reforms are as follows.
The main factor of efficiency differentials among commercial banks was technical efficiency during the period of 1999-2004, but it shifted to scale efficiency during the period of 2005-2006. And the ratio of banks with efficiency below mean of technical efficiencies or scale efficiencies, to total banks has decreased steadily during the period of 1999-2005, but has increased during the period of 2005-2006. The overall banking efficiency has improved during the period of 2003-2005. The technical efficiency has increased more rapidly than the scale efficiency. Meanwhile total factor productivity has decreased due to the increase in unit labor cost that exceeded the technological change plus the efficiency increase. Largely mergers and consolidations by holding company that were accomplished since 2001 tended to decrease efficiencies.
The implications of the above efficiency analysis for banking reforms are to improve the scale efficiency of two over-sized banks, to enhance the technical efficiency of three low-efficient banks, to control mergers and consolidations by holding company whose main motive is strengthening the competitiveness by increasing market power, and to establish the institutional mechanism to promote financial innovations while to control unit labor cost.