Financial Dependence, Banking Sector Competition, and Economic Growth

Topics:
Commercial Banking
Tags:
Banking,
Competition,
Finance,
Financial,
Financial Accounting,
Financial Sector,
Financial Services
Source:
World Bank Group

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Overview: The relationships among competition in the financial sector, access of firms to external financing, and associated economic growth are ambiguous in theory. Moreover, measuring competition in the financial sector can be complex. The paper first estimates for 16 countries a measure of banking system competition based on industrial organization theory. It then relates this competition measure to growth of industries and finds that greater competition in countries' banking systems allows financially dependent industries to grow faster. These results are robust under a variety of tests. The results suggest that the degree of competition is an important aspect of financial sector functioning.

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Format: PDF | Size: 276KB | Date: Jan 2005 | Pages: 49

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