CEPII, Recherche et Expertise sur l'economie mondiale
More Bankers, More Growth? Evidence from OECD Countries

Gunther Capelle-Blancard
Claire Labonne

 Points clés :

 Résumé :
In this paper, we reexamine empirically the finance/growth nexus. We argue that financial deepening should not only be assessed with familiar measures of financial activities outputs (e.g. credit volume), but also through its inputs (e.g. the relative number of employees in the financial industry) or the efficiency of the financial intermediation process (measured in this paper by the ratio credit volume to number of employees). Overall, our study confirms the absence of a positive relationship between financial deepening and economic growth for OECD countries over the last forty years.

 Mots-clés : SYSTEME BANCAIRE | optimal size of the financial sector | financial intermediation | bank efficiency | system and difference GMM | BANKING SYSTEM | CROISSANCE

 JEL : G20
CEPII Working Paper
N°2011-22, November 2011

Résumés non-techniques

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 Domaines d'expertise

Monnaie & Finance