rate independent of the source of loans - banks or moneylenders though the level effect (intercept) is higher if the loan … is obtained from banks or lower if the household lives below poverty line. The same also holds for the rate of growth of … rate of growth of capital asset or income whether source of borrowing is bank or money lender. This is then formalized in a …

Countries differ on the extent to which their financial system relies on banks or on the financial market. We offer a … advantage. Countries specialising in bank dependent sectors favour the development of the banking sector. Simultaneously …. To empirically investigate our model's predictions, we construct a measure of sector bank dependence and establish a …

a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows … us to construct a new and better financial development index which measures the level of loans extended by banks to … form of higher loan to GDP ratio leads to lower economic growth rate. We find that discrimination in bank lending, housing …

aggregate and bank-level data. The main findings show that the amplitude of the real business cycle was becoming smaller during …