Financial Development and Economic Growth: The Role of Foreign-Owned Banks in CESEE Countries
AbstractThis study focuses on the role of financial development in the economic growth of Central, Eastern and South-Eastern European (CESEE) countries in the post-communist era (1995–2014), which coincides with the opening up of financial markets to foreign investors and the global financial crisis. We investigate whether economic growth in CESEE countries has benefited from the presence of foreign-owned banks. To this end, we introduce some refined measures of financial development and control for banks’ financial strength. Our results challenge the idea that bank credit fosters economic growth and that foreign-owned banks are indisputably a positive addition to local markets able to foster economic growth. View Full-Text
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Bongini, P.; Iwanicz-Drozdowska, M.; Smaga, P.; Witkowski, B. Financial Development and Economic Growth: The Role of Foreign-Owned Banks in CESEE Countries. Sustainability 2017, 9, 335.
Bongini P, Iwanicz-Drozdowska M, Smaga P, Witkowski B. Financial Development and Economic Growth: The Role of Foreign-Owned Banks in CESEE Countries. Sustainability. 2017; 9(3):335.Chicago/Turabian Style
Bongini, Paola; Iwanicz-Drozdowska, Małgorzata; Smaga, Paweł; Witkowski, Bartosz. 2017. "Financial Development and Economic Growth: The Role of Foreign-Owned Banks in CESEE Countries." Sustainability 9, no. 3: 335.
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