Investigating the symmetry and asymmetry of banking indicators on Iraq's economic growth: a quantile regression approach
Subject Areas : Financial Economics
kiumars shahbazi
1
,
Bssam Abdel Mohsen Hussein Al-Azzawi
2
1 - Professor of economics, Urmia University
2 - Urmia university
Keywords: Bank Stability, Economic Growth in Iraq, Bank Concentration, Quantile Regression,
Abstract :
Banking concentration and financial stability in a country can have different and asymmetric effects on economic growth at different levels. Therefore, this study uses the quantile regression (QR) model to examine the interactions between banking competition, banking stability, and economic growth in Iraq during the period of 2010:01-2020:12. First, Herfindahl-Hirschman, Lerner, three-firm concentration, five-firm concentration, and Z-SCORE indices were calculated, and then the QR model was estimated. The empirical results show that all concentration and stability indices of banks have negative and asymmetric effects on economic growth in different quartiles. Banking concentration has a greater negative impact on economic growth at lower levels. In addition, the coefficients of the banking stability index indicate that a stable financial environment for economic performance is more desirable when economic growth is at a lower level. However, the results of all estimates show that the negative effect of concentration is several times greater than the positive effect of banking stability on economic growth in all quartiles. Therefore, it is recommended to first reduce banking concentration by encouraging investors to create small and medium-sized banks to increase economic growth, and then impose restrictions on large banks to reduce banking risk and increase stability.
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Agoraki, M. E. K., Aslanidis, N., & Kouretas, G. P. (2022). US banks’ lending, financial stability, and text-based sentiment analysis. Journal of Economic Behavior & Organization, 197, 73-90.
Ahmoudabadi, M. Z., & Emrouznejad, A. (2019). Comprehensive performance evaluation of banking branches: A three-stage slacks-based measure (SBM) data envelopment analysis. International Review of Economics & Finance, 64, 359-376.
Akinrolabu, D. R., & Haruna, M. A. (2021). Organization of Petroleum Exporting Countries (OPEC) at: Challenges, Achievements and Prospects Towards Global Economic and Investment Development. Achievers Journal of Scientific Research, 3(2), 182-196.
Albaity, M., Mallek, R. S., & Noman, A. H. M. (2019). Competition and bank stability in the MENA region: The moderating effect of Islamic versus conventional banks. Emerging Markets Review, 38, 310-325.
Ali, K., Hongbing, H., Liew, C. Y., & Jianguo, D. (2023). Governance perspective and the effect of economic policy uncertainty on financial stability: evidence from developed and developing economies. Economic Change and Restructuring, 1-32.
Allen, F., Gu, X., & Jagtiani, J. (2022). Fintech, cryptocurrencies, and CBDC: Financial structural transformation in China. Journal of International Money and Finance, 124, 102625.
Alshubiri, F., Jamil, S. A., & Fekir, S. (2023). Corruption Control, Government Effectiveness and Banking Stability: Does Corruption Grease or Sand the Wheels?. Journal of the Knowledge Economy, 1-26.
Al-Yousif, Y. K. (2002). Financial development and economic growth: Another look at the evidence from developing countries. Review of Financial Economics, 11(2), 131–150.
Anani, M., & Owusu, F. (2023). Regulatory capital and bank risk-resilience amid the Covid-19 pandemic: How are the Basel reforms faring?. Finance Research Letters, 52, 103591.
Bai, Y., Dang, T. V., He, Q., & Lu, L. (2022). Does lending relationship help or alleviate the transmission of liquidity shocks? Evidence from a liquidity crunch in China. Journal of Financial Stability, 58, 100889.
Barjaktarović, L., Filipović, S., & Dimić, M. (2013). Concentration level of the banking industry in CEE countries. Industrija, 41(3), 39-54.
Barra, C., & Zotti, R. (2022). Financial stability and local economic development: the experience of Italian labour market areas. Empirical Economics, 62(4), 1951-1979.
Bataille, M., Bodnar, O., Steinmetz, A., & Thorwarth, S. (2019). Screening instruments for monitoring market power—The Return on Withholding Capacity Index (RWC). Energy Economics, 81, 227-237.
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