EFFICIENCY IN ISLAMIC BANKING: A NON-PARAMETRIC APPROACH
Abstract
Penelitian ini bertujuan untuk membandingkan tingkat efisiensi bank-bank Islam di kawasan Timur Tengah dan Asia Tenggara. Hal ini didasari pada kegagalan perbankan yang mendorong terjadinya krisis keuangan domestik maupun international dalam dasawarsa terakhir. Efisiensi perbankan akhirnya menjadi perhatian penting tidak hanya di Asia setelah krisis di tahun 1997, namun juga di belahan dunia lainnya. Di sisi lain perkembangan bank-bank Islam kiranya telah dianggap sebagai alternatif solusi untuk menuju perbankan yang sehat. Dengan demikian, studi tentang efisiensi bank-bank Islam menjadi kajian menarik, terutama perbandingan efisiensi antar kawasan. Dalam paper ini digunakan metode non parametrik Data Envelopment Analysis (DEA) untuk mengukur efisiensi skor data panel yang mencakup empat puluh delapan bank Islam selama kurun waktu 2000 hingga 2004. Pendekatan yang digunakan dalam paper ini adalah pendekatan intermediasi yang dianggap paling sesuai dengan prinsip-prinsip sistem keuangan Islam.
Secara keseluruhan, hasil perhitungan menunjukkan bahwa bank-bank Islam di Asia Tenggara sedikit lebih effisien dibandingkan bank-bank Islam di Timur Tengah. Salah satu penyebabnya adalah tragedi 9/11 di tahun 2001 dan perang Iraq yang berlangsung di tahun 2002. Oleh karena itu dapat disimpulkan bahwa bank-bank Islam masih sangat tergantung pada sistem keuangan dan segala bentuk peraturan perbankan yang berlaku baik di tingkat nasional, regional maupun global, serta karakteristik perbedaan resiko yang berkonsekuensi pada perbedaan regulasi prudential sangat menentukan fluktuasi skor effisiensi.
Keywords:Efficiency, Islamic banking, Data Envelopment Analysis (DEA)
JEL Classification: D61, G21, C14
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References
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Humprey, D. B., “Cost and Scale Economies in Bank Intermediation,” 1985, in Handbook for Banking Strategy, ed. by R. Aspinwall, and R. Eisenbeis, New York. Wiley and Sons.
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Leibenstein, H., “Allocative Efficiency Vs X-Efficiency”, American Economic Review, 1966, 56, 392-415.
Lovell, C.A.K. “Production frontiers and Productive Efficiency”, 1993, in Fried, H.O., C.A.K.
Lovell and S.S. Schmidt (Eds), The Measurement of Productive Efficiency, Oxford University Press, New York, 3-67.
Lovell C.A.K., Walters L.C. and L. L. Wood, 1995, Stratified Models of Education Production Using Modified DEA and Regression Analysis, in Charnes A., Cooper W.W. Lewin A.Y. and L.M. Seiford, eds., Data Envelopment Analysis: Theory, Methodologies and Applications, Boston, Kluwer, 329-352.
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Obaidullah, Mohammed, 2005, Islamic Financial Services, Islamic Economics Research Center King Abdulaziz University Jeddah, Saudi Arabia, September 2005, http://islamiccenter.kau.edu.sa/english/Publications/Obaidullah/ifs/ifs.html
Radelet, Steven and Jeffrey Sachs, 1998. “The East Asian Financial Crisis: Diagnosis, Remedies, Prospects,” mimeographed, Harvard Institute for International Development
Samad, A., and M. K. Hassan, “The Performance of Malaysian Islamic Bank During 1984-1997: An Exploratory Study,” 1999, International Journal of Islamic Financial Services, 1.
Siddiqi, Mohammad Nejatullah, Comparative Advantages Of Islamic Banking And Finance, Presented at Harvard University Forum on Islamic Finance, 6 April 2002 http://www.siddiqi.com/mns.
Sarker, M. A. A., “Islamic Banking in Bangladesh: Performance, Problems, and Prospects,” 1999, International Journal of Islamic Financial Services, 1.
Walding, Shannon, “Benchmarking Water Suppliers in Australia: A DEA Approach”, an honours thesis, the School of Economics, University of Queensland, 2003.
Yudistira, D., “The Impact of Bank Capital Requirements in Indonesia,” 2002, Economics Working Paper Archive at WUSTL, 12.
Yudistira, Donsyah, “Efficiency in Islamic banking: an Empirical Analysis of 18 Banks”, Economic Working Paper Archieve at WUSTL, 12, 2003.
Zhang, Yun, and Robert, Bartels, “The Effect of Sample Size on the Mean Efficiency on DEA”, 1998, Journal of Productivity Analysis, Vol.9. No.3. Netherlands
Al Janahi, Ahmed and David W, How Islamic Banks Deal with Problem Business Situations: Islamic Banking as a Potential Model for Emerging Markets, Thunderbird International Business Review, July-August 2005 Vol. 47(4) 429-445. Wiley Periodicals, Inc. Available online www.interscience.wiley.com.
Al-Omar, F. A., and M. Iqbal, “Some Strategic Suggestions for Islamic Banking in the 21st Century,” 2000, Review of Islamic Economics, 9, 37-56.
Ariff, M, Islamic Banking, Asian-Pacific Economic Literature, 1998, Vol. 2, No. 2 (September 1988), pp. 46-62
Aziz, Z A, Governor’s Special Luncheon Address at the CFO Summit 2001 – “The Economic Outlook in the Aftermath of September 11”, Nikko Hotel, Kuala Lumpur, available at http://www.bnm.gov.my, 08 November 2001.
________, Governor’s Statement at the BNM 2001 Annual Report Press Conference, Bank Negara Malaysia, Kuala Lumpur, available at www.bnm.gov, my20 March 2002.
Bashir, M. Abdel H, “Assesing the performance of Islamic Banks: Some Evidence from the Middle East”, paper presented to Preceding for the Annual meeting of the MEEA (American Economic Association Annual Meeting), New Orleans, Lousiana, January 4-7, 2001.
Bank Indonesia, “Blue Print of Islamic Banking Development in Indonesia”, 2003, Bank Indonesia Press, Jakarta.
Banker , GCC: Economies Are Booming, Supplement August 2004
______, GCC: Economies are Booming, Special Supplement vol. August. 2004
_______, GCC: Looking Ahead with Confindence, Supplement August 2003
Banker, R.D., Charnes, A. and Cooper W.W., “Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis”, 1984, Management Sciences, 30, 1078-1092. Bankscope databases, Cibrary University of Queensland
Berger, A. N., and D. B. Humprey, “Efficiency of Financial Institutions: International Survey and Directions for Future Research,” 1997, European Journal of Operational Research, 98, 175-212.
Berger A.N., Hancock D. and D.B. Humphrey, Bank Efficiency Derived From the Profit Function, 1993, Journal of Banking and Finance, 17, 317-347.
Casu, B., and P. Molyneux, “A Comparative Study of Efficiency in European Banking,” 2000, Financial Institutions Center Working Paper Series, 00-17, February.
Charnes, A., W.w. Cooper and E. Rhodes, “Measuring the Efficiency of Decision Making Units 1978, European Journal of Operations Research, 2, 429-444.
Central Bank of Bahrain, Islamic finance, http://www.bma.gov.bh/cmsrule/ 8 may 2005.
Chand, Indira, New Order at GIB, the Banker, vol. 152, no. 914, April, p. 79.
Coelli, Tim, “A Multi Stages Methodology for the Solution of Oriented DEA Models, 1997, mimeo, Centre for Efficiency and Productivity Analysis, the University of New England, Armidale.
Coelli. Tim, DSPR, and George E. Battese, An Introduction to Efficiency and Productivity Analysis, 1998, Kluwer Academic Publisher.
Coelli, T.J. and S. Parelman, “A Comparisson of Parametric and Non-parametric Distance Functions: With Application to European Railways”, 1996, CERPP Discussion paper, University of Liege, Liege.
Chiuri, M. C., G. Ferri, and G. Majnoni, “The Macroeconomic Impact of Bank Capital Requirements in Emerging Economies: Past Evidence to Assess the Future,” 2001, World Bank Working Paper.
Dar, H., and J. Presley, “Lack of Profit Loss Sharing in Islamic Banking: Management and Control Imbalances,” 2000, International Journal of Islamic Financial Services, 2.
Dietsch M. and L. Weill, Banking Efficiency and European Integration: Productivity, Cost and Profit Approaches, 1998, paper presented at the 21st Colloquium of the SUERF (Frankfurt, 15 -17 October 1998).
Drake, L., and M. Hall, “Efficiency in Japanese Banking: An Empirical Analysis,” 2003, Journal of Banking and Finance, 27, 891-917.
Desli, E, A Bootstrap-Regression Procedure to Capture Unit Specific Effects in Data Envelopment Analysis, Lloyd’s of London, http://www.econ.ucon.edu/ 20-03-2005.
El-Gamal, Mahmoud A. and Hulusi .I, “Inefficiency and Heterogeneity In Turkish Banking: 1990-2000”, Journal Of Applied Econometrics, 2005. 20: 641-664
Fare, R.,S. Grosskopf and C.A.K. Lovell (1994), Production Frontiers, Cambridge University Press.
Fare, R. and C.A.K. Lovell, “Measuring the Technical Efficiency of Production”, 1978, Jurnal of Economic Theory, Vol.19, Issue 1., P. 150-162
Farrell, M. J., “The Measurement of Productive Efficiency,” 1957, Journal of the Royal Statistical Society, 120, 253-81.
Ferrier, G.D. and C.A.K. Lovell, 1990, “Measuring Cost Efficiency in Banking: Econometric and Linear Programming Evidence”, Journal of Econometrics, 46, 229-245
Ghannadian, Farhad F and Gautam G., “Developing economy banking: the case of Islamic banks”, International Journal of Social Economics, 2004, 31, 7/8, ABI/INFORM Global.
Haron, S, “A comparative Study of Islamic Banking Practices”, Journal King Abdul Aziz University: Islamic Economics 1998, vol. 10, pp. 23-52.
Humprey, D. B., “Cost and Scale Economies in Bank Intermediation,” 1985, in Handbook for Banking Strategy, ed. by R. Aspinwall, and R. Eisenbeis, New York. Wiley and Sons.
Iqbal, Z., Islamic Financial Systems, Finance & Development / June 1997
Lee, Suk Hyung, “Essay on Banking Efficiency”, Dissertation, Department of Economics, University of Kansas, 2002.
Leibenstein, H., “Allocative Efficiency Vs X-Efficiency”, American Economic Review, 1966, 56, 392-415.
Lovell, C.A.K. “Production frontiers and Productive Efficiency”, 1993, in Fried, H.O., C.A.K.
Lovell and S.S. Schmidt (Eds), The Measurement of Productive Efficiency, Oxford University Press, New York, 3-67.
Lovell C.A.K., Walters L.C. and L. L. Wood, 1995, Stratified Models of Education Production Using Modified DEA and Regression Analysis, in Charnes A., Cooper W.W. Lewin A.Y. and L.M. Seiford, eds., Data Envelopment Analysis: Theory, Methodologies and Applications, Boston, Kluwer, 329-352.
Maghyereh, Aktam, The Effect of Financial Liberalization on the Efficiency of Financial Institutions: The case of Jordanian Commercial Banks, Islam and Business: Cross-Cultural and Crossnational Perspectives, ed. Kip becker, The International Business Press, The Haworth Press Inc., 2004, pp 71-106.
Mattgias, M, “The Effect of Sample Size on the Mean Efficiency on DEA: Comment”, 2001, Journal of Productivity Analysis, Vol.15. No.2. Netherlands. Mergent online databases, Cibrary University of Queensland
Mester L.J., 1996, A Study of Bank Efficiency Taking into Account Risk-Preferences, Journal of Banking and Finance, 20, 389 - 405.
Muljawan, D., H. Dar, and M. J. B. Hall, “A Capital Adequacy Framework for Islamic Banks: The Need to Reconcile Depositors» Risk Aversion with Managers’ Risk Taking,” 2002, Loughborough University Economics Papers, 13.
Obaidullah, Mohammed, 2005, Islamic Financial Services, Islamic Economics Research Center King Abdulaziz University Jeddah, Saudi Arabia, September 2005, http://islamiccenter.kau.edu.sa/english/Publications/Obaidullah/ifs/ifs.html
Radelet, Steven and Jeffrey Sachs, 1998. “The East Asian Financial Crisis: Diagnosis, Remedies, Prospects,” mimeographed, Harvard Institute for International Development
Samad, A., and M. K. Hassan, “The Performance of Malaysian Islamic Bank During 1984-1997: An Exploratory Study,” 1999, International Journal of Islamic Financial Services, 1.
Siddiqi, Mohammad Nejatullah, Comparative Advantages Of Islamic Banking And Finance, Presented at Harvard University Forum on Islamic Finance, 6 April 2002 http://www.siddiqi.com/mns.
Sarker, M. A. A., “Islamic Banking in Bangladesh: Performance, Problems, and Prospects,” 1999, International Journal of Islamic Financial Services, 1.
Walding, Shannon, “Benchmarking Water Suppliers in Australia: A DEA Approach”, an honours thesis, the School of Economics, University of Queensland, 2003.
Yudistira, D., “The Impact of Bank Capital Requirements in Indonesia,” 2002, Economics Working Paper Archive at WUSTL, 12.
Yudistira, Donsyah, “Efficiency in Islamic banking: an Empirical Analysis of 18 Banks”, Economic Working Paper Archieve at WUSTL, 12, 2003.
Zhang, Yun, and Robert, Bartels, “The Effect of Sample Size on the Mean Efficiency on DEA”, 1998, Journal of Productivity Analysis, Vol.9. No.3. Netherlands
Published
2007-05-23
How to Cite
Yaumidin, U. K. (2007). EFFICIENCY IN ISLAMIC BANKING: A NON-PARAMETRIC APPROACH. Buletin Ekonomi Moneter Dan Perbankan, 9(4), 23 -. https://doi.org/10.21098/bemp.v9i4.213
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Buletin Ekonomi Moneter dan Perbankan / Bulletin of Monetary Economics and Banking is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
