The Dodd‐Frank Wall Street Reform and Consumer Protection Act of 2010 aimed to improve the financial stability of the banking industry. This reform was intended to reduce the too‐big‐to‐fail practices for very large banks. However, it might also affect the performance of relatively small asset size banks with different lending portfolios. Using the Call Report data from 2006 to 2016, evidence suggests that the Dodd‐Frank Act has affected the estimates of cost efficiency and returns to scale measures of both big banks and small agricultural banks. Results indicate that Dodd‐Frank Act has increased cost efficiency, discouraged mergers, and encouraged product specialization for banks above the $50 billion asset size. However, none of these results hold for the banks just above the $10 billion asset size. This appears to suggest that Dodd‐Frank Act has mainly affected the economic measures of those very big banks that are subject to the more stringent regulations. Nevertheless, Dodd‐Frank has reduced agricultural banks' cost efficiency and increased incentives for mergers. In addition, the Dodd‐Frank Act has dampened the incentives for product diversification in agricultural banking. Likewise, evidence exists that this act has slowed productivity growth, efficiency, and technological change in agricultural banks. Taken together, Dodd‐Frank reduced consolidations in very big banks that are subject to greater oversight but adversely affected U.S. agricultural lending.

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大银行与农业银行：大到不能倒的监管是否影响了效率和规模经济措施？

2010 年《多德-弗兰克华尔街改革和消费者保护法》旨在改善银行业的金融稳定性。这项改革旨在减少大型银行的“大到不能倒”的做法。然而，它也可能影响拥有不同贷款组合的资产规模相对较小的银行的业绩。使用 2006 年至 2016 年的 Call Report 数据，有证据表明，《多德-弗兰克法案》已经影响了大型银行和小型农业银行对成本效率和规模回报措施的估计。结果表明，多德-弗兰克法案提高了成本效率，阻止了合并，并鼓励了资产规模超过 500 亿美元的银行的产品专业化。然而，这些结果均不适用于资产规模略高于 100 亿美元的银行。这似乎表明多德-弗兰克法案主要影响了那些受更严格监管的大型银行的经济措施。尽管如此，多德-弗兰克法案降低了农业银行的成本效率并增加了合并的动机。此外，《多德-弗兰克法案》削弱了对农业银行业产品多样化的激励。同样，有证据表明这一行为减缓了农业银行的生产力增长、效率和技术变革。总体而言，多德-弗兰克法案减少了受更大监管但对美国农业贷款产生不利影响的大型银行的整合。成本效率和增加的合并激励。此外，《多德-弗兰克法案》削弱了对农业银行业产品多样化的激励。同样，有证据表明这一行为减缓了农业银行的生产力增长、效率和技术变革。总体而言，多德-弗兰克法案减少了受更大监管但对美国农业贷款产生不利影响的大型银行的整合。成本效率和增加的合并激励。此外，《多德-弗兰克法案》削弱了对农业银行业产品多样化的激励。同样，有证据表明这一行为减缓了农业银行的生产力增长、效率和技术变革。总体而言，多德-弗兰克法案减少了受更大监管但对美国农业贷款产生不利影响的大型银行的整合。