Banking Sector Openness and Economic Growth
Banking sector openness may directly affect growth by improving the access to financial services and indirectly by improving the efficiency of financial intermediaries, both of which reduce the cost of financing, and in turn, stimulate capital accumulation and economic growth. The objective of the paper is to empirically reinvestigate these direct and indirect links using a more advanced econometric technique (GMM dynamic panel estimators). An illustrative model is presented to link financial market development with investment. The empirical results confirm the presence of direct and indirect links, and thus provide support for countries planning to open their banking sector for international competition.
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dig-okr-109869273 |
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koha |
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dig-okr-1098692732024-08-08T17:05:58Z Banking Sector Openness and Economic Growth Bayraktar, Nihal Wang, Yan ACCOUNTING ACTUAL COST ALLOCATIVE EFFICIENCY AUDITING BANK ASSETS BANK OF KOREA BANKING SECTOR BANKING SERVICES BORROWING CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL FLIGHT CAPITAL INVESTMENT CAPITAL MOBILITY COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMERS COST OF CAPITAL COUNTRY LEVEL DEBT DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC CREDIT DYNAMIC PANEL EARNING ASSETS ECONOMETRICS ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC STATISTICS ECONOMIC STUDIES EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL MODEL EMPIRICAL RESULTS EMPIRICAL SECTION EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT EQUATIONS ENTREPRENEURSHIP EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPECTED RETURNS EXPECTED VALUE EXPLANATORY VARIABLES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN ENTRY FUNCTIONAL FORM GDP GDP PER CAPITA GLOBALIZATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH RATE GROWTH REGRESSIONS HIGH INFLATION HUMAN CAPITAL IMPROVING PRODUCTIVITY INDEPENDENT VARIABLES INFLATION INFLATION RATE INTEREST INCOME INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INVESTMENT RATE LAGGED LEVELS LAWS LIBERALIZATION OF FINANCIAL MARKETS LIQUIDITY LONG-RUN GROWTH LOW INTEREST RATES LOWERING BARRIERS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET FAILURES MONETARY ECONOMICS NAFTA NEGATIVE EFFECT NEGATIVE SIGN NET INTEREST MARGIN 0 HYPOTHESIS OVERHEAD COSTS POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT RATE PROFITABILITY PROMOTING GROWTH PUBLIC INFRASTRUCTURE REAL GDP REAL INTEREST RATE REAL INTEREST RATES RETAINED EARNINGS RISK FACTORS RISK SHARING SAVINGS SERIAL CORRELATION SIGNIFICANT IMPACT STATE BANKS TRADE LIBERALIZATION TRANSITION ECONOMIES Banking sector openness may directly affect growth by improving the access to financial services and indirectly by improving the efficiency of financial intermediaries, both of which reduce the cost of financing, and in turn, stimulate capital accumulation and economic growth. The objective of the paper is to empirically reinvestigate these direct and indirect links using a more advanced econometric technique (GMM dynamic panel estimators). An illustrative model is presented to link financial market development with investment. The empirical results confirm the presence of direct and indirect links, and thus provide support for countries planning to open their banking sector for international competition. 2012-06-26T18:21:28Z 2012-06-26T18:21:28Z 2006-10 http://documents.worldbank.org/curated/en/2006/10/7095002/banking-sector-openness-economic-growth https://hdl.handle.net/10986/9273 English en_US Policy Research Working Paper; No. 4019 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain World Bank, Washington, DC |
| institution |
Banco Mundial |
| collection |
DSpace |
| country |
Estados Unidos |
| countrycode |
US |
| component |
Bibliográfico |
| access |
En linea |
| databasecode |
dig-okr |
| tag |
biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
English en_US |
| topic |
ACCOUNTING ACTUAL COST ALLOCATIVE EFFICIENCY AUDITING BANK ASSETS BANK OF KOREA BANKING SECTOR BANKING SERVICES BORROWING CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL FLIGHT CAPITAL INVESTMENT CAPITAL MOBILITY COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMERS COST OF CAPITAL COUNTRY LEVEL DEBT DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC CREDIT DYNAMIC PANEL EARNING ASSETS ECONOMETRICS ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC STATISTICS ECONOMIC STUDIES EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL MODEL EMPIRICAL RESULTS EMPIRICAL SECTION EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT EQUATIONS ENTREPRENEURSHIP EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPECTED RETURNS EXPECTED VALUE EXPLANATORY VARIABLES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN ENTRY FUNCTIONAL FORM GDP GDP PER CAPITA GLOBALIZATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH RATE GROWTH REGRESSIONS HIGH INFLATION HUMAN CAPITAL IMPROVING PRODUCTIVITY INDEPENDENT VARIABLES INFLATION INFLATION RATE INTEREST INCOME INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INVESTMENT RATE LAGGED LEVELS LAWS LIBERALIZATION OF FINANCIAL MARKETS LIQUIDITY LONG-RUN GROWTH LOW INTEREST RATES LOWERING BARRIERS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET FAILURES MONETARY ECONOMICS NAFTA NEGATIVE EFFECT NEGATIVE SIGN NET INTEREST MARGIN 0 HYPOTHESIS OVERHEAD COSTS POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT RATE PROFITABILITY PROMOTING GROWTH PUBLIC INFRASTRUCTURE REAL GDP REAL INTEREST RATE REAL INTEREST RATES RETAINED EARNINGS RISK FACTORS RISK SHARING SAVINGS SERIAL CORRELATION SIGNIFICANT IMPACT STATE BANKS TRADE LIBERALIZATION TRANSITION ECONOMIES ACCOUNTING ACTUAL COST ALLOCATIVE EFFICIENCY AUDITING BANK ASSETS BANK OF KOREA BANKING SECTOR BANKING SERVICES BORROWING CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL FLIGHT CAPITAL INVESTMENT CAPITAL MOBILITY COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMERS COST OF CAPITAL COUNTRY LEVEL DEBT DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC CREDIT DYNAMIC PANEL EARNING ASSETS ECONOMETRICS ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC STATISTICS ECONOMIC STUDIES EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL MODEL EMPIRICAL RESULTS EMPIRICAL SECTION EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT EQUATIONS ENTREPRENEURSHIP EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPECTED RETURNS EXPECTED VALUE EXPLANATORY VARIABLES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN ENTRY FUNCTIONAL FORM GDP GDP PER CAPITA GLOBALIZATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH RATE GROWTH REGRESSIONS HIGH INFLATION HUMAN CAPITAL IMPROVING PRODUCTIVITY INDEPENDENT VARIABLES INFLATION INFLATION RATE INTEREST INCOME INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INVESTMENT RATE LAGGED LEVELS LAWS LIBERALIZATION OF FINANCIAL MARKETS LIQUIDITY LONG-RUN GROWTH LOW INTEREST RATES LOWERING BARRIERS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET FAILURES MONETARY ECONOMICS NAFTA NEGATIVE EFFECT NEGATIVE SIGN NET INTEREST MARGIN 0 HYPOTHESIS OVERHEAD COSTS POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT RATE PROFITABILITY PROMOTING GROWTH PUBLIC INFRASTRUCTURE REAL GDP REAL INTEREST RATE REAL INTEREST RATES RETAINED EARNINGS RISK FACTORS RISK SHARING SAVINGS SERIAL CORRELATION SIGNIFICANT IMPACT STATE BANKS TRADE LIBERALIZATION TRANSITION ECONOMIES |
| spellingShingle |
ACCOUNTING ACTUAL COST ALLOCATIVE EFFICIENCY AUDITING BANK ASSETS BANK OF KOREA BANKING SECTOR BANKING SERVICES BORROWING CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL FLIGHT CAPITAL INVESTMENT CAPITAL MOBILITY COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMERS COST OF CAPITAL COUNTRY LEVEL DEBT DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC CREDIT DYNAMIC PANEL EARNING ASSETS ECONOMETRICS ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC STATISTICS ECONOMIC STUDIES EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL MODEL EMPIRICAL RESULTS EMPIRICAL SECTION EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT EQUATIONS ENTREPRENEURSHIP EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPECTED RETURNS EXPECTED VALUE EXPLANATORY VARIABLES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN ENTRY FUNCTIONAL FORM GDP GDP PER CAPITA GLOBALIZATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH RATE GROWTH REGRESSIONS HIGH INFLATION HUMAN CAPITAL IMPROVING PRODUCTIVITY INDEPENDENT VARIABLES INFLATION INFLATION RATE INTEREST INCOME INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INVESTMENT RATE LAGGED LEVELS LAWS LIBERALIZATION OF FINANCIAL MARKETS LIQUIDITY LONG-RUN GROWTH LOW INTEREST RATES LOWERING BARRIERS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET FAILURES MONETARY ECONOMICS NAFTA NEGATIVE EFFECT NEGATIVE SIGN NET INTEREST MARGIN 0 HYPOTHESIS OVERHEAD COSTS POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT RATE PROFITABILITY PROMOTING GROWTH PUBLIC INFRASTRUCTURE REAL GDP REAL INTEREST RATE REAL INTEREST RATES RETAINED EARNINGS RISK FACTORS RISK SHARING SAVINGS SERIAL CORRELATION SIGNIFICANT IMPACT STATE BANKS TRADE LIBERALIZATION TRANSITION ECONOMIES ACCOUNTING ACTUAL COST ALLOCATIVE EFFICIENCY AUDITING BANK ASSETS BANK OF KOREA BANKING SECTOR BANKING SERVICES BORROWING CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL FLIGHT CAPITAL INVESTMENT CAPITAL MOBILITY COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMERS COST OF CAPITAL COUNTRY LEVEL DEBT DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC CREDIT DYNAMIC PANEL EARNING ASSETS ECONOMETRICS ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC STATISTICS ECONOMIC STUDIES EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL MODEL EMPIRICAL RESULTS EMPIRICAL SECTION EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT EQUATIONS ENTREPRENEURSHIP EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPECTED RETURNS EXPECTED VALUE EXPLANATORY VARIABLES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN ENTRY FUNCTIONAL FORM GDP GDP PER CAPITA GLOBALIZATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH RATE GROWTH REGRESSIONS HIGH INFLATION HUMAN CAPITAL IMPROVING PRODUCTIVITY INDEPENDENT VARIABLES INFLATION INFLATION RATE INTEREST INCOME INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INVESTMENT RATE LAGGED LEVELS LAWS LIBERALIZATION OF FINANCIAL MARKETS LIQUIDITY LONG-RUN GROWTH LOW INTEREST RATES LOWERING BARRIERS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET FAILURES MONETARY ECONOMICS NAFTA NEGATIVE EFFECT NEGATIVE SIGN NET INTEREST MARGIN 0 HYPOTHESIS OVERHEAD COSTS POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT RATE PROFITABILITY PROMOTING GROWTH PUBLIC INFRASTRUCTURE REAL GDP REAL INTEREST RATE REAL INTEREST RATES RETAINED EARNINGS RISK FACTORS RISK SHARING SAVINGS SERIAL CORRELATION SIGNIFICANT IMPACT STATE BANKS TRADE LIBERALIZATION TRANSITION ECONOMIES Bayraktar, Nihal Wang, Yan Banking Sector Openness and Economic Growth |
| description |
Banking sector openness may directly affect growth by improving the access to financial services and indirectly by improving the efficiency of financial intermediaries, both of which reduce the cost of financing, and in turn, stimulate capital accumulation and economic growth. The objective of the paper is to empirically reinvestigate these direct and indirect links using a more advanced econometric technique (GMM dynamic panel estimators). An illustrative model is presented to link financial market development with investment. The empirical results confirm the presence of direct and indirect links, and thus provide support for countries planning to open their banking sector for international competition. |
| topic_facet |
ACCOUNTING ACTUAL COST ALLOCATIVE EFFICIENCY AUDITING BANK ASSETS BANK OF KOREA BANKING SECTOR BANKING SERVICES BORROWING CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL FLIGHT CAPITAL INVESTMENT CAPITAL MOBILITY COMPETITIVENESS CONSTANT RETURNS TO SCALE CONSUMERS COST OF CAPITAL COUNTRY LEVEL DEBT DEPENDENT VARIABLE DESCRIPTIVE STATISTICS DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DOMESTIC CREDIT DYNAMIC PANEL EARNING ASSETS ECONOMETRICS ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC STATISTICS ECONOMIC STUDIES EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL MODEL EMPIRICAL RESULTS EMPIRICAL SECTION EMPIRICAL STUDIES EMPLOYMENT EMPLOYMENT EQUATIONS ENTREPRENEURSHIP EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENTS ESTIMATION METHOD ESTIMATION RESULTS EXPECTED RETURNS EXPECTED VALUE EXPLANATORY VARIABLES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL INTEGRATION FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY DEVELOPMENT FINANCIAL INTERMEDIATION FINANCIAL LIBERALIZATION FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN BANKS FOREIGN ENTRY FUNCTIONAL FORM GDP GDP PER CAPITA GLOBALIZATION GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH RATE GROWTH REGRESSIONS HIGH INFLATION HUMAN CAPITAL IMPROVING PRODUCTIVITY INDEPENDENT VARIABLES INFLATION INFLATION RATE INTEREST INCOME INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INVESTMENT RATE LAGGED LEVELS LAWS LIBERALIZATION OF FINANCIAL MARKETS LIQUIDITY LONG-RUN GROWTH LOW INTEREST RATES LOWERING BARRIERS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARKET FAILURES MONETARY ECONOMICS NAFTA NEGATIVE EFFECT NEGATIVE SIGN NET INTEREST MARGIN 0 HYPOTHESIS OVERHEAD COSTS POLICY RESEARCH POLITICAL ECONOMY POSITIVE EFFECTS PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFIT RATE PROFITABILITY PROMOTING GROWTH PUBLIC INFRASTRUCTURE REAL GDP REAL INTEREST RATE REAL INTEREST RATES RETAINED EARNINGS RISK FACTORS RISK SHARING SAVINGS SERIAL CORRELATION SIGNIFICANT IMPACT STATE BANKS TRADE LIBERALIZATION TRANSITION ECONOMIES |
| author |
Bayraktar, Nihal Wang, Yan |
| author_facet |
Bayraktar, Nihal Wang, Yan |
| author_sort |
Bayraktar, Nihal |
| title |
Banking Sector Openness and Economic Growth |
| title_short |
Banking Sector Openness and Economic Growth |
| title_full |
Banking Sector Openness and Economic Growth |
| title_fullStr |
Banking Sector Openness and Economic Growth |
| title_full_unstemmed |
Banking Sector Openness and Economic Growth |
| title_sort |
banking sector openness and economic growth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2006-10 |
| url |
http://documents.worldbank.org/curated/en/2006/10/7095002/banking-sector-openness-economic-growth https://hdl.handle.net/10986/9273 |
| work_keys_str_mv |
AT bayraktarnihal bankingsectoropennessandeconomicgrowth AT wangyan bankingsectoropennessandeconomicgrowth |
| _version_ |
1807160167329955840 |