Financial Innovations in Banking: Impact on Regional Growth

Valverde, Santiago Carbó; Paso, Rafael López del; Fernández, Francisco Rodríguez

doi:10.1080/00343400600928350

Cited by 77 publications

(48 citation statements)

References 45 publications

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“…However, we can say that the number of empirical studies is relatively small, especially compared to those of bank contribution to economic growth Levine (1997), Valverde (2004), Dawson (2008). Moreover, the impact of insurance on the growth of the economy in transition countries is examined separately, as part of a study Haiss and Sümegi, (2008).…”

Section: Jordan Kjosevskimentioning

confidence: 99%

Impact Of Insurance On Economic Growth: The Case Of Republic Of Macedonia

Kjosevski¹

2012

EJBE

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The purpose of this paper is to examine the impact of insurance and economic growth, with empirical analysis for the Republic of Macedonia. We apply multiple regression and control for other relevant determinants of economic growth. The analysis used data for the period 1995 - 2010. In order to solve the model in the analysis will use the technique of least squares, followed by analysis of variability in order to identify the effects of each variable. Insurance development is measured by insurance penetration (insurance premiums in percentage of GDP). We used three different insurance variables - life insurance, non-life insurance and total insurance penetration. According to our findings, insurance sector development positively and significantly affects economic growth. The results are confirmed in terms of non-life insurance, and, total insurance, while the results show that life insurance negatively affect economic growth.

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Section: Jordan Kjosevskimentioning

confidence: 99%

Impact Of Insurance On Economic Growth: The Case Of Republic Of Macedonia

Kjosevski¹

2012

EJBE

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“…The links between financial institutions and economic growth have concentrated a great deal of academic attention during the last fifteen years (Valverde, Paso, & Fernández, 2014). The impact of financial innovation and economic growth is an important public policy issue.…”

Section: Introductionmentioning

confidence: 99%

Innovation and economic growth: evidence from financial institutional innovation

Qamruzzaman

2017

RISUS

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Abstract:Innovation is the key to bringing changes in the traditional financial system. Innovation in the financial system being new financial products, hybrid financial institutions and new rules and regulations to reform existing financial system. Evolvement of financial institutions in the economy help economy in performing a financial function more effective and efficiently and such performance of financial institution promotes economic growth. The aim of the study to assess the relationship between institutional innovation and economic growth of Bangladesh over the period from 1991 to 2015. During this study, we employ the various econometric model to established association ship between institutional innovation and economic growth. Study results revealed that all the variables are stationary at level and after first difference all the variables become non-stationary. Test of Cointegration results revealed that innovation in the financial system through non-bank financial institutions and the financial market can contribute long run and CPI and spread rate can contribute in short run in the economic growth of Bangladesh. While Granger Causality Test revealed that Capital flow and GDP shows unidirectional causality but financial market development and GDP shows the Bidirectional causal relationship in the economy. It is also observed from causality analysis that capital flow and financial market development shows bidirectional causality, which indicated that innovation either in a financial institution or financial market can cause both variables and eventually influence on economic growth. So policymaker should consider the interrelationship between institutional innovation and economic growth while the formulation of economic policy because policy should expedite the development process in the financial system by making robust financial sector through encouraging financial innovation with banks, non-banks financial institution and capital market as well. Robust financial development can cause positively in overall economic growth in Bangladesh.

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“…Hao and Hunter (1997) also found the same results in cross country analysis and elaborated that innovation in financial sector positively correlate with economic growth enhancement. Carbó Valverde et al (2007), in a study obtained positive impact of product as well as service innovation on regional gross domestic product, investment and savings. Michalopoulos et al (2009), conducted a study to evaluate relationship between financial innovation and economic growth.…”

Section: Financial Innovation and Economic Growthmentioning

confidence: 99%

“…Which in return eliminate poverty and farther increase economic growth. Carbó Valverde et al (2007), examined the impact of financial innovation on regional economic growth of Spain. Author used set of banking sector innovation as proxy of financial innovation.…”

Section: Financial Innovation and Economic Growthmentioning

confidence: 99%

Bank Performance, Risk and Economic Growth: Role of Financial Innovation

Usman¹

2016

RISUS

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Abstract:The purpose of study is to examine the impact of financial innovation on bank performance, risk and economic growth in Pakistan. To test study hypotheses, bank level and country level variables are used. Time period of study is 14 years from 2000 to 2013. Data are collected from World Bank, Global Economy, State Bank of Pakistan, Bank Scope databases and Economic Survey of Pakistan. We use correlation matrix and ordinary least square techniques for evaluation. According to hypotheses, we also develop three econometric models to test relationship between depend and independent and control variables. By controlling different variable in model 1, we found positive and statistically significant impact of financial innovation on bank performance. Moreover in model 2 after controlling various bank level indicators we found that financial innovation minimize the risk of bankruptcy. Farther we utilize model 3 to evaluate the relationship between financial innovation and economic growth. Results indicate positive and statistically significant relationship between financial innovation and economic growth.

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Financial Innovations in Banking: Impact on Regional Growth

Cited by 77 publications

References 45 publications

Impact Of Insurance On Economic Growth: The Case Of Republic Of Macedonia

Impact Of Insurance On Economic Growth: The Case Of Republic Of Macedonia

Innovation and economic growth: evidence from financial institutional innovation

Bank Performance, Risk and Economic Growth: Role of Financial Innovation

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