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|Title:||Real effect of bank efficiency: Evidence from disaggregated manufacturing sectors|
|Keywords:||Industry growth;Industry market structure;Bank efficiency|
|Publisher:||Wiley: No OnlineOpen|
|Abstract:||In this paper, we investigate the real effect of bank efficiency for the growth and market structure of 23 manufacturing sectors in a two-dimensional panel framework. We use the cost and profit efficiency scores that are estimated based on the stochastic frontier model for 5850 banks. The robust finding is that industries that rely heavily on external finance, grow faster and are enhanced by the creation of new enterprises in countries with efficient banking systems. Further evidence, however, reveals that the efficiency effect is mainly derived from the cost side during the financial crisis period.|
|Appears in Collections:||Dept of Economics and Finance Research Papers|
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