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Bank Competition, Financial Dependence, and Economic Growth in the Gulf Cooperation Council

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World Bank (WB)

Abstract: The relationship between bank competition, firm access to finance, and economic growth is a much debated topic in the economic literature and in policy circles. This paper uses a panel of 23 manufacturing sectors over 2002-10 to investigate the impact of bank competition on industry growth in the Gulf Cooperation Council economies. The results show that greater competition allows financially dependent firms to grow faster. In addition, the results show that lower restrictions on banks’ permissible activities, better credit information, and greater institutional effectiveness mitigate the damaging impact of low competition. These results are robust to a variety of checks. The findings suggest that improving bank competition should be an important aspect of the financial sector development agenda in the Gulf Cooperation Council.
Type: Working Paper
Publications Research
Publications & Research :: Policy Research Working Paper
Link: http://hdl.handle.net/10986/24526
Subject: ACCESS TO CREDIT
CREDIT MARKETS
FOREIGN ENTRY
CAPITAL MARKETS
FINANCIAL SERVICES
BORROWER
STATE‐OWNED BANKS
ECONOMIC GROWTH
EXTERNAL FINANCING
CREDIT ALLOCATION
CAPITAL ACCUMULATION
EXTERNAL FUNDS
FINANCING
FINANCIAL MANAGEMENT
BANKING INDUSTRY
INTEREST
MORAL HAZARD
INDUSTRY
BIAS
PRIVATE CREDIT
PRIVATE CREDIT
AVAILABILITY OF CREDIT
BANKING SYSTEM
SERVICES
PUBLIC SERVICES
ACCESS TO EXTERNAL FINANCE
BANKING SYSTEMS
FINANCIAL MANAGEMENT
CAPITAL STRUCTURE
AVAILABILITY OF CREDIT
CREDIT CONSTRAINTS
DEFAULT RISK
INFORMATION SHARING
ECONOMIC POLICY
CREDIT ALLOCATION
SOURCES OF FINANCE
CAPITAL MARKETS
BORROWERS
BANK ASSETS
GREATER ACCESS
INTERNATIONAL BANK
INFORMATION ASYMMETRIES
CASH FLOWS
BANK COMPETITION
BANKING SECTOR
BANKING SYSTEMS
BANK LENDING
BANKING CRISES
EXTERNAL FINANCE
DEFAULT RISK
LACK OF CREDIT
CREDIT ACCESS
RETURN ON ASSETS
MORAL HAZARD
FOREIGN BANKS
ADVANCED ECONOMIES
BANK ASSETS
CREDIT BUREAUS
CREDIT BUREAUS
LENDING DECISIONS
CORPORATE FINANCE
INFORMATION SHARING
FINANCIAL SERVICES PROVIDERS
FINANCIAL INSTITUTIONS
MARKETS
PUBLIC SERVICES
ENTRY BARRIERS
ACCESS TO FINANCE
ENTERPRISES
FINANCIAL ACCESS
BANK CREDIT
SOURCES OF FINANCE
BANK LENDING
REAL ESTATE
RETURN ON ASSETS
FINANCE
BANKING SECTOR
ENTRY BARRIERS
INFORMATION ASYMMETRY
BANKS
SOURCES OF FINANCE
STATE‐ OWNED BANKS
CREDIT INFORMATION
CREDIT CONSTRAINTS
CREDIT REGISTRIES
CAPITAL
RETAIL BANKING
FINANCIAL STABILITY
PUBLIC POLICIES
ACCESS TO FINANCE
CREDIT ACCESS
VALUE
BANK
CREDIT
ACCESSIBILITY
FOREIGN ENTRY
EXTERNAL FUNDS
EXPENDITURES
CREDIT INFORMATION
CIVIL SERVICE
FOREIGN BANKS
FINANCIAL ACCESS
GOVERNMENT INTERVENTION
BANK COMPETITION
INFORMATION ASYMMETRIES
RISK OF BANK FAILURE
FINANCIAL INSTITUTIONS
DIVERSIFICATION
SECURITIES
SYSTEMIC INSTABILITY
GOVERNANCE
INSURANCE
FINANCIAL DEVELOPMENT
ACCESS TO CREDIT
ACCESS TO FINANCE
ACCESS TO EXTERNAL FINANCE
ECONOMIC DEVELOPMENT
LENDING DECISIONS
INFORMATION ASYMMETRY
BANK CREDIT
FINANCIAL SERVICES PROVIDERS
FINANCIAL DEVELOPMENT
RETAINED EARNINGS
STATE‐OWNED BANKS
REAL ESTATE
INVESTMENT
FINANCIAL INTERMEDIATION
RISK
CAPITAL STRUCTURE
CREDIT REGISTRY
FINANCIAL MARKETS
BANKING
COOPERATION
BANKING INDUSTRY
FINANCIAL SECTOR DEVELOPMENT
REVENUE
LACK OF CREDIT
BANKING SYSTEM
EARNINGS
GREATER ACCESS
BORROWING
LENDING
CAPITAL EXPENDITURES
FINANCIAL SECTOR DEVELOPMENT
FINANCIAL SERVICES
EXTERNAL FINANCING
ENTREPRENEURSHIP
BANKING CRISES
FINANCIAL MARKETS
GOVERNMENTS
BANK FAILURE
CIVIL SERVICE
CREDIT MARKETS
RETAINED EARNINGS
ECONOMIC GROWTH
CREDIT REGISTRY
FINANCIAL SECTOR DEVELOPMENT
FINANCIAL DEPTH
INCOME GROUPS
GOVERNMENT INTERVENTION
CREDIT MARKET
COMPETITION
EMPLOYEES




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