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@article{ART001884927},
author={JOON MO YANG and 최기산 and Lee, Jangyoun and Cho, Insook},
title={The Role of Financial Sector in Regional Economic Development},
journal={Journal of Regional Studies and Development},
issn={1738-3846},
year={2014},
volume={23},
number={1},
pages={31-58}

TY - JOUR
AU - JOON MO YANG
AU - 최기산
AU - Lee, Jangyoun
AU - Cho, Insook
TI - The Role of Financial Sector in Regional Economic Development
JO - Journal of Regional Studies and Development
PY - 2014
VL - 23
IS - 1
PB - Institute for Poverty Alleviation and International Development: IPAID
SP - 31
EP - 58
SN - 1738-3846
AB - Using Korean regional data, this study examines the impact of financialdevelopment on regional economic growth. By using a dynamic panel model, thisstudy avoids the endogeneity between financial development and economicgrowth. Also this model allows to distinguish the effect of regional banks fromthat of national banks in regional economic development. The empirical results ofthis study show that development of regional financial markets positively promotethe region's economic growth. Moreover, regional banks play more important rolesin economic development of the region compared to national banks. Furthermore, this study also investigates the relationship between regional andnational financial systems. First, a comparison of asset quality index indicates thatasset quality index of regional banks are as good as those of national banks. This implies that expansion of regional financial markets may not exacerbatemacro-prudential risks of the entire economy. Second, this study showssubstitutability among various types of financial intermediaries in Korean economy. This suggests that the introduction of regional banks in the region will enhancethe soundness of the regional financial system as well as that of the nationalfinancial system.
KW - Regional financial markets;economic growth;dynamic panel model
DO -
UR -
ER -

JOON MO YANG, 최기산, Lee, Jangyoun and Cho, Insook. (2014). The Role of Financial Sector in Regional Economic Development. Journal of Regional Studies and Development, 23(1), 31-58.

JOON MO YANG, 최기산, Lee, Jangyoun and Cho, Insook. 2014, "The Role of Financial Sector in Regional Economic Development", Journal of Regional Studies and Development, vol.23, no.1 pp.31-58.

JOON MO YANG, 최기산, Lee, Jangyoun, Cho, Insook "The Role of Financial Sector in Regional Economic Development" Journal of Regional Studies and Development 23.1 pp.31-58 (2014) : 31.

JOON MO YANG, 최기산, Lee, Jangyoun, Cho, Insook. The Role of Financial Sector in Regional Economic Development. 2014; 23(1), 31-58.

JOON MO YANG, 최기산, Lee, Jangyoun and Cho, Insook. "The Role of Financial Sector in Regional Economic Development" Journal of Regional Studies and Development 23, no.1 (2014) : 31-58.

JOON MO YANG; 최기산; Lee, Jangyoun; Cho, Insook. The Role of Financial Sector in Regional Economic Development. Journal of Regional Studies and Development, 23(1), 31-58.

JOON MO YANG; 최기산; Lee, Jangyoun; Cho, Insook. The Role of Financial Sector in Regional Economic Development. Journal of Regional Studies and Development. 2014; 23(1) 31-58.

JOON MO YANG, 최기산, Lee, Jangyoun, Cho, Insook. The Role of Financial Sector in Regional Economic Development. 2014; 23(1), 31-58.

JOON MO YANG, 최기산, Lee, Jangyoun and Cho, Insook. "The Role of Financial Sector in Regional Economic Development" Journal of Regional Studies and Development 23, no.1 (2014) : 31-58.