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| Tekijä: | Guevara, J. F. de Maudos, J. |
| Otsikko: | Banking competition and economic growth: cross-country evidence |
| Lehti: | European Journal of Finance
2011 : AUG-SEP, VOL. 17:7-8, p. 739-764 |
| Asiasana: | economic growth banking competition financial markets development measurement empirical research |
| Vapaa asiasana: | cross-country analysis relationship lending finance conditions market power market concentration Lerner index Panzar and Rosse methodology |
| Kieli: | eng |
| Tiivistelmä: | This article aims at analyzing the effect of banking competition on industry economic growth using both structural measures of competition and measures based on the new empirical industrial organisation perspective. The evidence obtained in the period 1993-2003 for a sample of 53 sectors in 21 countries indicates that financial development promotes economic growth. The results indicate that: 1) bank monopoly power has an inverted-U-shaped effect on economic growth, suggesting that bank market power has its highest growth effect at intermediate values. 2) consistent with the literature on relationship lending, which argues that bank competition can have a negative effect on the availability of finance for companies that are informationally more opaque. |
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