Financial innovations in banking: Impact on regional growth

Regional Studies

Volumn 41, Issue 3, 2007, Pages 311-326

  Valverde, Santiago Carbó ^a   Del Paso, Rafael López ^a   Fernández, Francisco Rodríguez ^a  

^a UNIVERSITY OF GRANADA   (Spain)

Author keywords

Economic growth; Financial intermediation; Regions

Indexed keywords

BANKING; ECONOMIC GROWTH; ECONOMIC IMPACT; FINANCE; GROSS DOMESTIC PRODUCT; INVESTMENT; REGIONAL ECONOMY; SAVINGS;

EURASIA; EUROPE; SOUTHERN EUROPE; SPAIN;

EID: 34347240938     PISSN: 00343404     EISSN: 13600591     Source Type: Journal    
DOI: 10.1080/00343400600928350     Document Type: Article

References (61)

1. Alonso-Borrego, C. and Arelland, M. (1996) Symmetrically Normalised Instrumental Variable Estimation Using Panel Data
2. Arellano, M. and Bond, S. (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equation. Review of Economic Studies, 58, pp. 277-287.
3. Arellano, M. and Bover, O. (1995) Another look at the IV estimation of error components model. Journal of Econometrics, 68, pp. 29-62.
4. Arestis, P. and Demitriades, P. (1997) Financial development and economic growth: Assessing the evidence. Economic Journal, 108, pp. 783-799.
5. Barro, R. and Sala-i-Martín, X. (1998) Economic Growth, MIT Press, Cambridge, MA
6. Beck, T., Levine, R. and Loayza, N. (2000) Finance and the sources of growth. Journal of Financial Economics, 58, pp. 261-300.
7. Bencivenga, V. R. and Smith, D. B. (1991) Financial intermediation and endogenous growth. Review of Economic Studies, 58, pp. 195-209.
8. Benhabib, J. and Spiegel, M. M. (2000) The role of financial development in growth and investment. Journal of Economic Growth, 5, pp. 341-360.
9. Berger, A. N., Hasan, I. and Klapper, L. (2004) Further evidence on the link between finance and growth, an international analysis of community banking and economic performance. Journal of Financial Services Research, 25, pp. 169-202.
10. Blundell, R. and Bond, S. (1997) Initial Conditions and Moment Restrictions in Dynamic Panel Data Models, University College London, London
11. Blundell, R., Bond, S. and Windmeijer, F. (2000) Estimation in Dynamic Panel Models: Improving on the Performance on the Standard GMM Estimator, Institute for Fiscal Studies, London
12. Carbó, S., Humphrey, D. and Rodríguez, F. (2003) Deregulation, bank competition and regional growth. Regional Studies, 37, pp. 227-237.
13. Carbó, S. and Rodríguez, F. (2004) The finance-growth nexus, a regional perspective. European Urban and Regional Studies, 11, pp. 339-354.
14. Cetorelli, N. and Gambera, M. (2002) Banking market structure, financial dependence and growth, international evidence from industry data. Journal of Finance, 56, pp. 617-648.
15. Chakravarty, S. P. (2006) Regional variation in banking services and social exclusion. Regional Studies, 40, pp. 415-428.
16. Claessens, C. and Glaessner, T. (1997) Are Financial Sector Weaknesses Undermining the East Asian Miracle?, World Bank, Washington, DC
17. De la Fuente, A. and Marín, J. M. (1996) Innovation, bank monitoring, and endogenous financial development. Journal of Monetary Economics, 38, pp. 269-301.
18. Demirgüç-kunt,A. and Maksimovic, V. (1998) Law, finance and firm growth. Journal of Finance, 53, pp. 2107-2137.
19. Demirgüç-Kunt, A. and Maksimovic, V. (1999) Institutions, financial markets and firm debt maturity. Journal of Financial Economics, 54, pp. 66-97.
20. Demirgüç-Kunt, A. and Maksimovic, V. (2002) Funding growth in bank-based and market-based financial systems, evidence from firm-level data. Journal of Financial Economics, 65, pp. 337-363.
21. Demirgüç-Kunt, A., Laeven, L. and Levine, R. (2004) Regulations, market structure, institutions and the cost of financial intermediation. Journal of Money, Credit and Banking
22. Dow, S. C. and Fuentes, C. J. Rodríguez (1997) Regional finance: a survey. Regional Studies, 31, pp. 903-920.
23. Dow, S. C. and Fuentes, C. J. Rodríguez (2003) EMU and the regional impact of monetary policy. Regional Studies, 37, pp. 969-980.
24. Fuller, D. and Jonas, A. E. G. (2002) Institutionalising future geographies of financial inclusion: National legitimacy versus local autonomy in the British credit union movement. Antipode, 34, pp. 85-110.
25. Goerlich, F. J. and Mas, M. (2002) Intertemporal and interprovincial variations in income inequality: Spain, 1973-1991. Regional Studies, 36, pp. 1005-1015.
26. Goldsmith, R. (1969) Financial Structure and Economic Development, Yale University Press, New Haven, CT
27. Greenwood, J. and Jovanovic, B. (1990) Financial development, growth and the distribution of income. Journal of Political Economy, 98, pp. 1076-1108.
28. Guiso, L., Sapienza, P. and Zingales, L. (2004) Does local financial development matter?. Quarterly Journal of Economics, 119, pp. 929-969.
29. Jappelli, T. and Pagano, M. (1992) Saving, Growth and Liquidity Constraints, CEPR, London
30. Jayaratne, J. and Strahan, P. E. (1996) The finance-growth nexus, evidence from bank branch deregulation. Quarterly Journal of Economics, 111, pp. 639-670.
31. Holtz-Eakin, D., Newey, W. and Rosen, H. (1990) Estimating vector autoregressions with panel data. Econometrica, 56, pp. 1371-1395.
32. King, R. and Levine, R. (1993) Finance and growth, Schumpeter might be right. Quarterly Journal of Economics, 108, pp. 717-737.
33. Klagge, B. and Martin, R. (2005) Decentralized versus centralized financial systems: Is there a case for local capital markets?. Journal of Economic Geography, 5, pp. 387-421.
34. La Porta, R., de Silanes, F. López and Schleifer, A. (2002) Government ownership of banks. Journal of Finance, 57, pp. 265-301.
35. La Porta, R., de Silanes, F. López, Schleifer, A. and Vishny, R. (1998) Law and finance. Journal of Political Economy, 106, pp. 1133-1155.
36. Lamo, A. (2000) On convergence empirics: Some evidence for Spanish regions. Investigaciones Económicas, 24, pp. 681-707.
37. Laulajainen, R. (1999) Subnational credit ratings - penetrating the cultural haze. GeoJournal, 47, pp. 501-507.
38. Leonida, L. and Montolio, D. (2004) On the dynamics of convergence and divergence processes in Spain. Investigaciones Económicas, 28, pp. 89-121.
39. Levine, R. (2002) Bank-based or market-based financial systems, which is better?. Journal of Financial Intermediation, 11, pp. 398-428.
40. Levine, R., Loayza, N. and Beck, T. (2002) Financial intermediation and growth, causality and causes. Journal of Monetary Economics, 46, pp. 31-77.
41. Leyshon, A. and Pollard, J. (2000) Geographies of industrial convergence: The case of retail banking. Transactions of the Institute of British Geographers, 25, pp. 203-220.
42. Lindgren, C., Balino, J., Enoch, C., Guide, M. and Quintyn, T. L. (2000) Financial Sector Crisis and Restructuring, Lessons from Asia, International Monetary Fund, Washington, DC
43. Mackay, R. and Molyneux, P. (1996) Bank credit and the regions: A comparison within Europe. Regional Studies, 30, pp. 757-763.
44. Martin, R. (1999) The new economic geography of money. Money and the Space Economy, pp. 3-28. Chichester, Wiley
45. Mayer, C. (1988) New issues in corporate finance. European Economic Review, 32, pp. 1167-1189.
46. McKillop, D. G. and Barton, L. P. (1995) An analysis of the financing requirements of small and medium sized firms in Northern Ireland. Regional Studies, 29, pp. 241-249.
47. McKinnon, R. I. (1969) Money and Capital in Economic Development, Brookings Institution, Washington, DC
48. Moore, R. R. (1998) Concentration, technology, and market power in banking: Is distance dead?. Financial Industry Studies, Federal Reserve Bank of Dallas, pp. 1-24.
49. Odedokun, M. O. (1996) Alternative econometric approaches for analysing the role of the financial sector in economic growth: Time series evidence from LCDs. Journal of Development Economics, 50, pp. 119-146.
50. Pagano, M. (1993) Financial markets and growth: An overview. European Economic Review, 37, pp. 613-622.
51. Petersen, M. A. and Rajan, R. G. (1995) The effect of credit market competition on lending relationships. Quarterly Journal of Economics, 110, pp. 407-443.
52. Rajan, R. and Zingales, L. (1998) Financial dependence and growth. American Economic Review, 88, pp. 559-586.
53. Rioja, F. and Valev, N. (2004) Does one size fit all? A reexamination of the finance and growth relationship. Journal of Development Economics, 74, pp. 429-447.
54. Fuentes, C. J. Rodriguez (2006) Regional Monetary Policy, Routledge, Abingdon
55. Rousseau, P. L. and Wachtel, P. (1998) Financial intermediation and economic performance, historical evidence from five industrialized countries. Journal of Money, Credit and Banking, 30, pp. 657-678.
56. Sala-i-Martín, X. (2002) 15 Years of New Growth Economics: What Have We Learnt?, Columbia University, New York, NY
57. Shaw, E. S. (1973) Financial Deepening in Economic Development, Oxford University Press, New York, NY
58. Thiel, M. (2001) Finance and Economic Growth. A Review of the Theory and the Available Evidence, European Commission, Brussels
59. Wang, E. C. (1999) A production function approach for analysing the finance-growth nexus. The evidence from Taiwan. Journal of Asian Economics, 10, pp. 319-328.
60. Williams, J. and Gardener, E. P. M. (2003) The efficiency of European regional banking. Regional Studies, 37, pp. 321-330.
61. Zazzaro, A. (1997) Regional banking systems, credit allocation and regional economic development. Économie Appliquée, 1, pp. 51-74.