Campos, N;
Karanasos, M;
Koutroumpis, P;
Glebkina, E;
(2024)
The finance-growth nexus and public-private ownership of banks in Brazil since 1870.
Annals of Operations Research
10.1007/s10479-024-05924-7.
(In press).
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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.
| Type: | Article |
|---|---|
| Title: | The finance-growth nexus and public-private ownership of banks in Brazil since 1870 |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1007/s10479-024-05924-7 |
| Publisher version: | https://doi.org/10.1007/s10479-024-05924-7 |
| Language: | English |
| Additional information: | This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. |
| Keywords: | Brazil, Direct short- and long-run effects, Economic growth, Financial development, Indirect impact, Private and public ownership |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Arts and Humanities |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/10190919 |
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