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Abstract

Purpose – This study aims to measure banking productivity in ASEAN countries and identify the factors influencing it.
Methods – This research utilizes the Malmquist Productivity Index to measure productivity, decomposing Total Factor Productivity Change (TFPCH) into two components: technological change and efficiency change. Furthermore, the Generalized Method of Moments (GMM) is applied to identify the determinants of bank productivity.
Findings – The results indicate that, on average, banking productivity in ASEAN countries has increased, with Laos recording the highest productivity performance. An interesting finding from this study is that banking productivity in ASEAN is predominantly driven by efficiency improvements rather than technological innovation. This suggests that several ASEAN countries still face challenges in digital innovation. Regarding productivity determinants, internal bank factors such as ROA and Stability are proven to have a significant positive impact, whereas the BOPO ratio is negatively correlated. On the other hand, from a macroeconomic perspective, inflation negatively affects productivity, whereas GDP and exchange rate variables exert only a weak influence.
Implications – The study highlights the need for strategic policies to encourage and accelerate the digitalization of banking in ASEAN countries.
Originality – This research provides a novel empirical contribution by revealing that the ASEAN banking industry is experiencing technological stagnation, despite improvements in operational efficiency.


Abstrak
Tujuan – Penelitian ini bertujuan untuk mengukur produktivitas perbankan dinegara ASEAN dan mengidentifikasi faktor-faktor yang mempengaruhinya
Metode – Penelitian ini menggunakan Malmquist Productivity Index untuk mengukur produktivitas yang memecah nilai Total Factor Productivity Change (TFPCH) menjadi dua komponen, yaitu perubahan teknologi dan perubahan efisiensi. Sementara itu, metode Generalized Method of Moments (GMM) digunakan untuk mengidentifikasi faktor penentu produktivitas bank.
Temuan – Hasil penelitian menunjukkan bahwa rata-rata produktivitas bank di negara ASEAN mengalami peningkatan dengan kinerja produktivitas terbaik, yaitu negara Laos. Temuan menarik dari penelitian ini yaitu produktivitas bank di negara ASEAN mayoritas didorong oleh peningkatan efisiensi, bukan karena inovasi teknologi. Terkait determinan produktivitas, faktor internal bank berupa ROA dan stabilitas terbukti memberikan dampak positif yang signifikan, sedangkan rasio BOPO berkorelasi negatif. Di sisi lain, dari perspektif makroekonomi, inflasi memiliki dampak negatif terhadap produktivitas, sementara variabel GDP dan nilai tukar tidak menunjukkan pengaruh yang lemah.
Implikasi – Implikasi dari penelitian ini yaitu perlunya kebijakan yang strategis untuk mendorong dan memacu digitalisasi perbankan di negara ASEAN.
Orisinalitas – Penelitian ini memberikan kontribusi empiris baru dengan mengungkap bahwa industri perbankan ASEAN mengalami stagnasi teknologi meskipun efisiensi operasionalnya meningkat.

Keywords

TFP GMM ASEAN Malmquist Productivity Index

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Copyright (c) 2026 Rindang Nuri Isnaini Nugrohowati, Jannahar Saddam Ash Shidiqie

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How to Cite
Nugrohowati, R. N. I., & Ash Shidiqie, J. S. (2026). Produktivitas perbankan di kawasan ASEAN: Pengukuran TFP dan analisis dampak variabel mikro dan makro. Jurnal Kebijakan Ekonomi Dan Keuangan, 4(2), 269–279. https://doi.org/10.20885/JKEK.vol4.iss2.art14
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