Financial Dependence, Banking Sector Competition, and Economic Growth

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dc.creatorClaessens, Stijn
dc.creatorLaeven, Luc
dc.date2012-06-25T14:19:19Z
dc.date2012-06-25T14:19:19Z
dc.date2005-01
dc.date.accessioned2026-07-01T01:28:15Z
dc.descriptionThe 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. In this paper the authors first estimate for 16 countries a measure of banking system competition based on industrial organization theory. They then relate this competition measure to growth of industries and find that greater competition in countries' banking systems allows financially dependent industries to grow faster. These results are robust under a variety of tests. Their results suggest that the degree of competition is an important aspect of financial sector functioning.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2005/01/5588129/financial-dependence-banking-sector-competition-economic-growth
dc.identifierhttps://hdl.handle.net/10986/8906
dc.identifierhttps://doi.org/10.1596/1813-9450-3481
dc.identifier.urihttp://hdl.handle.net/123456789/418381
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper No. 3481
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectACCOUNTING PRACTICES
dc.subjectACCOUNTING STANDARDS
dc.subjectASSET RATIO
dc.subjectASSETS
dc.subjectBANKING CONCENTRATION
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR DEVELOPMENT
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBANKS
dc.subjectBARRIERS TO ENTRY
dc.subjectBENCHMARK
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCOLLUSION
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPANY LAW
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONSOLIDATION
dc.subjectDEPOSITS
dc.subjectDEREGULATION
dc.subjectECONOMIC GROWTH
dc.subjectELASTICITY
dc.subjectEMERGING MARKETS
dc.subjectEQUILIBRIUM
dc.subjectEXPENDITURES
dc.subjectEXTERNAL FINANCING
dc.subjectFINANCIAL ANALYSIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFOREIGN BANKS
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectINCOME
dc.subjectINNOVATION
dc.subjectINVESTMENT NEEDS
dc.subjectLATIN AMERICAN
dc.subjectLEGAL FRAMEWORK
dc.subjectMARGINAL COSTS
dc.subjectMARGINS
dc.subjectMONEY MARKET
dc.subjectMONOPOLISTIC COMPETITION
dc.subjectOWNERSHIP STRUCTURE
dc.subjectPERFECT COMPETITION
dc.subjectPOSITIVE EFFECTS
dc.subjectPROPERTY RIGHTS
dc.subjectPROXY
dc.subjectPUBLIC ENTERPRISES
dc.subjectRETURN ON ASSETS
dc.subjectSTOCK MARKET
dc.subjectTOTAL REVENUE
dc.subjectTRADE CREDIT
dc.subjectTRADE FINANCE
dc.subjectTRANSITION ECONOMIES
dc.subjectVALUE ADDED
dc.titleFinancial Dependence, Banking Sector Competition, and Economic Growth

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