The Law of Proportionate Effect and OECD Bank Sectors

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The Law of Proportionate Effect and OECD Bank Sectors

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Vander Vennet, Rudi

Abstract

The paper investigates the growth dynamics of the bank sectors in the OECD area over the period 1985-94 and examines whether the structural financial reforms of the late 1980s have affected their growth path. Based on a test of Gibrat's law of proportionate effect, it is found that the 1985-89 period was characterized by size convergence, implying that smaller bank sectors were expanding more rapidly. However, in the 1990-94 period the pattern reversed to proportionate growth. The analysis of the determinants of bank market growth reveals that macroeconomic growth, operational bank efficiency, credit quality, and capitalization are the main drivers of bank industry growth. Copyright 2001 by Taylor and Francis Group

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Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 33 (2001)
Issue (Month): 4 (March)
Pages: 539-46
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Handle: RePEc:taf:applec:v:33:y:2001:i:4:p:539-46

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Matteo Richiardi, 2003. "Generalizing Gibrat. Reasonable Multiplicative Models of Firm Dynamics," Industrial Organization 0304004, EconWPA. [Downloadable!]
Other versions:
- Matteo Richiardi, 2004. "Generalizing Gibrat: Reasonable Multiplicative Models of Firm Dynamics," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 7. [Downloadable!]
Roy Thurik & Enrico Santarelli & David Audretsch & Luuk Klomp, 2002. "Gibrat's Law: Are the Services Different?," Scales Research Reports H200201, EIM Business and Policy Research. [Downloadable!]
Other versions:
- Audretsch, D.B. & Klomp, L. & Thurik, A.R., 2002. "Gibrat's Law: are the services different?," Research Paper ERS-2002-04-STR Revision_, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
- D.B. Audretsch & L. Klomp & E. Santarelli & A.R. Thurik, 2004. "Gibrat's Law: Are the Services Different?," Review of Industrial Organization, Springer, vol. 24(3), pages 301-324, 05. [Downloadable!]

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