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Financial Innovations in Banking: Impact on Regional Growth

Author

Listed:
  • Santiago Carbo Valverde
  • Rafael Lopez Del Paso
  • Francisco Rodriguez Fernandez

Abstract

Carbo Valverde S., Lopez del Paso R. and Rodriguez Fernandez F. (2007) Financial innovations in banking: impact on regional growth, Regional Studies 41, 311-326. This paper contributes to the literature on the relationship between finance and growth by analysing the relationships between financial intermediation and economic growth within the regions of one country, rather than with different countries. The focus on regions is relevant since regional information is more homogeneous, the legal and institutional factors are similar, and the relevant financial market is more accurately defined. The study also incorporates the effects of a set of banking innovations. The analysis is undertaken for the Spanish regions. The results show that product and service delivery innovations contribute positively to regional gross domestic product, investment and gross savings growth. Carbo Valverde S., Lopez del Paso R. et Rodriguez Fernandez F. (2007) Les innovations financieres dans le secteur bancaire: l'impact sur la croissance regionale, Regional Studies 41, 311-326. Cet article cherche a contribuer a la documentation sur le rapport entre la finance et la croissance en analysant les rapports entre l'intermediation financiere et la croissance economique au coeur des regions d'un seul pays, plutot que de plusieurs pays differents. La region comme point de mire est pertinente parce que les donnees regionales sont plus homogenes, les facteurs juridiques et institutionnels sont similaires, et le marche financier en question est delimite avec precision. L'etude inclut aussi les effets d'un ensemble d'innovations bancaires. On fait l'analyse pour les regions d'Espagne. Les resultats laissent voir que les innovations relatives a la production et a la fourniture de services sont en correlation etroite avec la croissance du PIB regional, de l'investissement et de l'epargne brute. Croissance economique Intermediation financiere Regions Carbo Valverde S., Lopez del Paso R. und Rodriguez Fernandez F. (2007) Finanzielle Innovationen im Bankwesen: die Auswirkung auf das Regionalwachstum, Regional Studies 41, 311-326. Dieser Artikel liefert einen Beitrag zur Literatur uber das Verhaltnis zwischen Finanzwesen und Wachstum durch eine Analyse der Beziehung zwischen Finanzvermittlungsdiensten und Wirtschaftswachstum innerhalb der Regionen eines Landes statt mehrerer Lander. Dieser Fokus auf den Regionen ist deshalb von Bedeutung, weil die regionalen Informationen homogener sind, ahnliche rechtliche und institutionelle Faktoren vorliegen und der jeweilige Finanzmarkt genauer definiert ist. Ebenso werden in unserer Studie die Auswirkungen verschiedener Innovationen im Bankwesen untersucht. Die Analyse wird fur die Regionen Spaniens durchgefuhrt. Die Ergebnisse zeigen, dass Innovationen bei Produkten und Dienstleistungen einen positiven Beitrag zum regionalen BIP, zu den Investitionen und zum Bruttowachstum der Ersparnisse leisten. Wirtschaftswachstum Finanzvermittlungsdienste Regionen Carbo Valverde S., Lopez del Paso R. y Rodriguez Fernandez F. (2007) Innovaciones financieras en la banca: impacto en el crecimiento regional, Regional Studies 41, 311-326. Este articulo aporta nuevos datos a la literatura especializada en la relacion entre finanzas y crecimiento al analizar las relaciones entre la intermediacion financiera y el crecimiento economico en las regiones de un mismo pais en vez de hacer una comparacion con otros paises. Este enfoque en las regiones es importante dado que la informacion regional es mas homogenea, los factores legales e institucionales son similares y el mercado financiero relevante esta definido con mejor precision. Nuestro estudio tambien incorpora los efectos de una serie de innovaciones bancarias. Los resultados de este analisis llevado a cabo en las regiones espanolas demuestran que las innovaciones en el suministro de productos y servicios contribuyen positivamente al PIB regional, la inversion y el crecimiento del ahorro bruto. Crecimiento economico Intermediacion financiera Regiones

Suggested Citation

  • Santiago Carbo Valverde & Rafael Lopez Del Paso & Francisco Rodriguez Fernandez, 2007. "Financial Innovations in Banking: Impact on Regional Growth," Regional Studies, Taylor & Francis Journals, vol. 41(3), pages 311-326.
    • Handle: RePEc:taf:regstd:v:41:y:2007:i:3:p:311-326
    DOI: 10.1080/00343400600928350
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    8. Md. Qamruzzaman & Wei Jianguo & Sharmin Jahan & Zhu Yingjun, 2021. "Financial innovation, human capital development, and economic growth of selected South Asian countries: An application of ARDL approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 4032-4053, July.
    9. Shigeki Ono & Ichiro Iwasaki, 2022. "The Finance-Growth Nexus in Europe: A Comparative Meta-Analysis of Emerging Markets and Advanced Economies," Eastern European Economics, Taylor & Francis Journals, vol. 60(1), pages 1-49, January.
    10. Rajesh Sharma & Samaresh Bardhan, 2017. "Finance growth nexus across Indian states: evidences from panel cointegration and causality tests," Economic Change and Restructuring, Springer, vol. 50(1), pages 1-20, February.
    11. BARRA, Cristian & ZOTTI, Roberto, 2018. "Financial Stability as a Public Policy Goal to Increase Local Economic Development: an Empirical Investigation from Italian Labour Market Areas," CELPE Discussion Papers 154, CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy.
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    13. Stefanos Ioannou & Dariusz Wójcik, 2021. "Finance and growth nexus: An international analysis across cities," Urban Studies, Urban Studies Journal Limited, vol. 58(1), pages 223-242, January.

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