Hand-cranked vs hydro-turbine generator for single potential energy (no continuos flow)
Hydroelectric power generation is by far the most efficient method of
  large scale electric power generation. See Comparison Chart. Energy
  flows are concentrated and can be controlled. The conversion process
  captures kinetic energy and converts it directly into electric energy.
  There are no inefficient intermediate thermodynamic or chemical
  processes and no heat losses. The overall efficiency can never be 100%
  however since extracting 100% of the flowing water's kinetic energy
  means the flow would have to stop.
  
  The conversion efficiency of a hydroelectric power plant depends
  mainly on the type of water turbine employed and can be as high as 95%
  for large installations. Smaller plants with output powers less than 5
  MW may have efficiencies between 80 and 85 %.


Source: https://www.mpoweruk.com/hydro_power.htm

A typical pulley system with friction can range in the 95% to 70% but could be made efficient by reducing the friction with special materials. 

Assuming you had the same motor and torque input, it would probably be a wash and would depend on the actual turbine or block and tackle system.