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Does Bank Liquidity Creation Contribute to Economic Growth? Evidence from Russia

Wirtschaftswissenschaften

Autoren:
Fidrmuc, Jarko
Titel:
Does Bank Liquidity Creation Contribute to Economic Growth? Evidence from Russia
Kurzzitat:
Fidrmuc, Jarko: Does Bank Liquidity Creation Contribute to Economic Growth? Evidence from Russia, Open Economies Review, 2015; Jg. 26 (3): 479-496: http://10.1007/s11079-015-9352-1 (download: https://ideas.repec.org/p/hhs/bofitp/2015_007.html) .
Publikationstyp:
Originalarbeiten in wissenschaftlichen Fachzeitschriften mit Review-Verfahren
Abstract:
The financial crisis has shown that the liquidity creation function of banks is critical for the economy. In this paper, we empirically investigate whether bank liquidity creation fosters economic growth in a large emerging market, Russia. We follow the methodology of Berger and Bouwman, Rev Financ Stud 22:3779–3837, (2009) to measure bank liquidity creation using a rich and exhaustive dataset of Russian banks. We perform fixed effects and GMM estimations to examine the relation of liquidity creation with economic growth for Russian regions for the period 2004–2012. Our results suggest that bank liquidity creation strengthens economic growth. This effect was not halted by the financial crisis. Our conclusion thus supports a positive impact of financial development on economic growth in Russia.
URL
http://10.1007/s11079-015-9352-1
Kontakt:
Zeppelin-Lehrstuhl für Internationale Wirtschaftstheorie & -politik (eingerichtet 05 / 2011)

Am Seemooser Horn 20
88045 Friedrichshafen

Tel: +49 7541 6009-1241
Fax: +49 7541 6009-1299
Email: jarko.fidrmuc@zu.de
http://www.zeppelin-university.de/deutsch/lehrstuehle/internationales_management/internationales_management_profil.php
Forschungsbericht der Abteilung für das Jahr 2015