**Appendix A**

**Figure A1.** The relationship between technical efficiency, bank characteristics (size, capital adequacy, liquidity and public bank dummy), and macroeconomic indicators (GDP growth rate and inflation rate) (Model II).

**Figure A2.** The relationship between technical efficiency and the financial crisis of 2007–2008, along with country crisis dummy variables (Indonesia crisis 1999 dummy, Malaysia crisis 1999 dummy, Philippines crisis 1999–2001 dummy, Thailand crisis 1999–2000 dummy, Brazil crisis 1999 dummy and Argentina crisis 1999–2002 dummy) (Model II).

**Figure A3.** The relationship between technical efficiency and country crisis dummy variables (Colombia crisis 1999 dummy, Turkey crisis 2001 dummy, Egypt crisis 2011–2013 dummy, Morocco crisis 2009 dummy, Czech Republic crisis 2009–2011 dummy and Greece crisis 2009–2013 dummy) (Model II).

**Figure A4.** *Cont*.

**Figure A4.** The relationship between technical efficiency, bank characteristics (size, capital adequacy, liquidity and public bank dummy) and macroeconomic indicators (GDP growth rate and inflation rate) (Model III).

**Figure A5.** The relationship between technical efficiency and the financial crisis of 2007–2008, along with regional dummy variables (East Asia dummy, Southeast Asia dummy, South Asia dummy, Latin America dummy and emerging Europe dummy) (Model III).
