Financial system structure and economic growth: Structure matters

Ozgur Ergungor ()

International Review of Economics & Finance, 2008, vol. 17, issue 2, pages 292-305

Abstract: This paper investigates how the structure of a financial system--whether it is bank or market-oriented--affects economic growth. In contrast to earlier research, which indicates that the financial system's structure is irrelevant for growth, I find that there is a nonlinear (contingent) relationship between growth and financial structure. Countries that have an inflexible judicial system grow faster when they have a more bank-oriented financial system.

Date: 2008
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Persistent link: http://EconPapers.repec.org/RePEc:eee:reveco:v:17:y:2008:i:2:p:292-305

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