期刊論文

標題 Banking Industry Volatility and Growth
學年 101
學期 1
出版(發表)日期 2012/12/01
作品名稱 Banking Industry Volatility and Growth
作品名稱(其他語言)
著者 Lin, Pei-chien; Huang, Ho-chuan(River)
單位 1873-152X;淡江大學產業經濟學系; 淡江大學財務金融學系
出版者 Amsterdam: Elsevier BV * North-Holland
著錄名稱、卷期、頁數 Journal of Macroeconomics 34(4), pp.1007–1019
摘要 In this paper, we provide evidence that banking industry volatility may exert a negative impact on growth in a more economically integrated world. By applying the augmented difference-in-difference framework of Rajan and Zingales (1998) to the cross-country cross-industry data developed by Ciccone and Papaioannou (2009), complemented by the Financial Development and Structure database of Beck et al. (2010), we show that over the 1980–1999 period the banking sector volatility, measured as the standard deviation of
 the growth of private credit, has a negative impact on the growth of industries that are
 more externally financially dependent, and this finding is robust to various sensitivity
 tests. However, the detrimental growth effect of banking sector volatility disappears when the sample is restricted to the relatively placid 1980s. Compared to the 1980s, the 1990s are characterized by a more economically integrated world accompanied by more often unpredicted financial crises that disturb the banking sector. As such, our results imply that in a more economically integrated world, the stability of bank development may be important to long-run growth.
關鍵字
語言 英文(美國)
ISSN 0164-0704
期刊性質 國外
收錄於 SSCI;
產學合作
通訊作者 Lin, Pei-chien
審稿制度
國別 荷蘭
公開徵稿
出版型式 電子版