Regulation of Financial Systems and Economic Growth:
This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a significant positive impact on sectoral output and productivity growth in a sample of 25 OECD countries. More specifically, following a methodology used by Rajan and Zingales (1998), th...
Gespeichert in:
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2006
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.506 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a significant positive impact on sectoral output and productivity growth in a sample of 25 OECD countries. More specifically, following a methodology used by Rajan and Zingales (1998), the paper tests whether industries that depend more heavily on external sources of funding tend to grow faster in countries that have more competition-friendly regulation in markets for banking services and financial instruments. The regulatory indicators are assembled from surveys conducted by the World Bank on regulations in banking and securities markets. They point to substantial variations in the stance of regulation across countries, in particular with respect to the broad rules underpinning securities market transactions. The empirical analysis indicates that financial system regulation matters for output growth both in a statistical and economic sense. |
| Beschreibung: | 1 Online-Ressource (49 p.) 21 x 29.7cm. |
| DOI: | 10.1787/870803826715 |
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| indexdate | 2024-07-16T15:07:21Z |
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| language | English |
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| physical | 1 Online-Ressource (49 p.) 21 x 29.7cm. |
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| publishDate | 2006 |
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| spelling | de Serres, Alain VerfasserIn aut Regulation of Financial Systems and Economic Growth Alain, de Serres ... [et al] = Réglementation des systèmes financiers et croissance économique / Alain, de Serres ... [et al] Réglementation des systèmes financiers et croissance économique Paris OECD Publishing 2006 1 Online-Ressource (49 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.506 This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a significant positive impact on sectoral output and productivity growth in a sample of 25 OECD countries. More specifically, following a methodology used by Rajan and Zingales (1998), the paper tests whether industries that depend more heavily on external sources of funding tend to grow faster in countries that have more competition-friendly regulation in markets for banking services and financial instruments. The regulatory indicators are assembled from surveys conducted by the World Bank on regulations in banking and securities markets. They point to substantial variations in the stance of regulation across countries, in particular with respect to the broad rules underpinning securities market transactions. The empirical analysis indicates that financial system regulation matters for output growth both in a statistical and economic sense. Economics Kobayakawa, Shuji MitwirkendeR ctb Sløk, Torsten MitwirkendeR ctb Vartia, Laura MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/870803826715 Volltext |
| spellingShingle | de Serres, Alain Regulation of Financial Systems and Economic Growth Economics |
| title | Regulation of Financial Systems and Economic Growth |
| title_alt | Réglementation des systèmes financiers et croissance économique |
| title_auth | Regulation of Financial Systems and Economic Growth |
| title_exact_search | Regulation of Financial Systems and Economic Growth |
| title_full | Regulation of Financial Systems and Economic Growth Alain, de Serres ... [et al] = Réglementation des systèmes financiers et croissance économique / Alain, de Serres ... [et al] |
| title_fullStr | Regulation of Financial Systems and Economic Growth Alain, de Serres ... [et al] = Réglementation des systèmes financiers et croissance économique / Alain, de Serres ... [et al] |
| title_full_unstemmed | Regulation of Financial Systems and Economic Growth Alain, de Serres ... [et al] = Réglementation des systèmes financiers et croissance économique / Alain, de Serres ... [et al] |
| title_short | Regulation of Financial Systems and Economic Growth |
| title_sort | regulation of financial systems and economic growth |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/870803826715 |
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