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Central Bank (BDCB) and the structure of the financial sector of Brunei Darussalam are presented. Lastly, the paper discusses …
Persistent link: https://www.econbiz.de/10013380870
Joseph A. Schumpeter is one of the most famous economists of the 20th century and the ’patron saint’ of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to puzzling empirical results and difficulties in...
Persistent link: https://www.econbiz.de/10013201693
This paper presents empirical evidence on the effect of banks' financial position on credit growth using a sample of 29 OECD countries. The failure of the exogeneity assumption of explanatory variables is addressed using dynamic panel type instruments. The empirical results show that among...
Persistent link: https://www.econbiz.de/10011579142
The finance sector is the lifeblood of any economy and its smooth functioning is central to rapid and inclusive economic growth. A well-functioning financial system must intermediate efficiently between savers and borrowers; manage risks prudently; provide a wide variety of financial services to...
Persistent link: https://www.econbiz.de/10011281272
This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial...
Persistent link: https://www.econbiz.de/10011335226
rate of growth of capital asset or income whether source of borrowing is bank or money lender. This is then formalized in a …
Persistent link: https://www.econbiz.de/10011952114
neutral. Furthermore, when controlling for the sectoral allocation of financing, no specific instrument - e.g. bank credit or …
Persistent link: https://www.econbiz.de/10011962798
a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows … form of higher loan to GDP ratio leads to lower economic growth rate. We find that discrimination in bank lending, housing …
Persistent link: https://www.econbiz.de/10013337564
granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank … of itself, and it may also influence concentration in banking and thus the impact of bank-specific shocks for the … micro-macro panel dataset. Our research has three main findings: First, bank-level shocks significantly impact on GDP …
Persistent link: https://www.econbiz.de/10010225571
granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank … of itself, and it may also influence concentration in banking and thus the impact of bank-specific shocks for the … micro-macro panel dataset. Our research has three main findings: First, bank-level shocks significantly impact on GDP …
Persistent link: https://www.econbiz.de/10010195375