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http://bura.brunel.ac.uk/handle/2438/30573| Title: | The finance-growth nexus and public-private ownership of banks in Brazil since 1870 |
| Authors: | Campos, N Karanasos, M Koutroumpis, P Glebkina, E |
| Keywords: | Brazil;direct short- and long-run effects;economic growth;financial development;indirect impact;private and public ownership |
| Issue Date: | 30-Mar-2024 |
| Publisher: | Springer Nature |
| Citation: | Campos, N. et al. (2024) 'The finance-growth nexus and public-private ownership of banks in Brazil since 1870', Annals of Operations Research, 0 (ahead of print), pp. 1 - 24. doi: 10.1007/s10479-024-05924-7. |
| Abstract: | How does finance affect economic growth? And does ownership matter? This paper investigates whether and how deposits in public vis-a-vis in private banks affect economic growth. It uses the power-ARCH framework with annual time series for Brazil from 1870 to 2018. There are three main findings: (a) the indirect impact of domestic financial development on economic growth is negative, whereas that of international financial development is positive, (b) the direct short-run effect of public and private banks is negative, while only for the latter does the positive direct long-run effect dominate, and (c) the indirect and direct short-run effect of public ownership banks is greater in size than that of private ownership banks. |
| Description: | Supplementary Information is available online at: https://link.springer.com/article/10.1007/s10479-024-05924-7#Sec13 . |
| URI: | https://bura.brunel.ac.uk/handle/2438/30573 |
| DOI: | https://doi.org/10.1007/s10479-024-05924-7 |
| ISSN: | 0254-5330 |
| Other Identifiers: | ORCiD: Nauro Campos https://orcid.org/0000-0002-4886-070X ORCiD: Menelaos Karanasos https://orcid.org/0000-0001-5442-3509 ORCiD: Panagiotis Koutroumpis https://orcid.org/0000-0002-2281-7236 |
| Appears in Collections: | Dept of Economics and Finance Research Papers |
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