Banking Sector Openness and Economic Growth

Bayraktar, Nihal ; Wang, Yan

World Bank, Washington, DC

关键词: ACCOUNTING;    ACTUAL COST;    ALLOCATIVE EFFICIENCY;    AUDITING;    BANK ASSETS;   

DOI  :  10.1596/1813-9450-4019
RP-ID  :  WPS4019

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

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.