Banking sector openness may directly affect growth by improving the access to financial services and indirectly by improving the efficiency of financial intermediaries, both of which reduce the cost of financing, and in turn, stimulate capital accumulation and economic growth. The objective of the paper is to empirically reinvestigate these direct and indirect links using a more advanced econometric technique (GMM dynamic panel estimators). An illustrative...
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INFORMATION
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2006/10/01
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Document de travail de recherche sur les politiques
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WPS4019
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1
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1
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2010/07/01
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Disclosed
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Banking sector openness and economic growth
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foreign bank
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