Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries

Gülhan Deniz

doi:10.38057/bifd.1955341

EN TR

Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries

Abstract

This study examines the effect of financial efficiency in the banking and insurance sectors on economic growth in countries of the Organisation for Economic Co-operation and Development. The analysis uses annual country-level data for 2010-2021. A two-stage empirical strategy is employed. First, efficiency scores for the banking and insurance sectors are estimated through stochastic frontier analysis. Second, the effects of these scores on economic growth are examined across different points of the growth distribution using panel quantile regression. The findings indicate that insurance sector efficiency supports economic growth mainly at the lower and median growth quantiles. The effect of banking sector efficiency is more limited and becomes relatively more visible at the median quantile. Overall, the results show that the growth effect of financial efficiency varies across the growth distribution and that the banking and insurance sectors do not contribute to economic performance in the same way.

Keywords

Financial Efficiency, Banking Sector, Insurance Sector, Economic Growth, Panel Quantile Regression

Supporting Institution

No financial support was received from any institution during the preparation of this manuscript.

Ethical Statement

This study uses secondary and publicly available country-level data; therefore, ethics committee approval is not required.

Finansal Sektör Etkinliği ve Ekonomik Büyüme: OECD Ülkelerinde Bankacılık ve Sigortacılık Sektörlerinden Kanıtlar

Abstract

Bu çalışma, Ekonomik İşbirliği ve Kalkınma Örgütü ülkelerinde bankacılık ve sigortacılık sektörlerindeki finansal etkinliğin ekonomik büyüme üzerindeki etkisini incelemektedir. Analizde 2010-2021 dönemine ait yıllık ülke verileri kullanılmıştır. Çalışmada iki aşamalı bir yöntem izlenmiştir. İlk aşamada bankacılık ve sigortacılık sektörleri için etkinlik skorları stokastik sınır analizi ile tahmin edilmiştir. İkinci aşamada bu skorların ekonomik büyüme üzerindeki etkisi panel kantil regresyon yöntemiyle farklı büyüme düzeylerinde araştırılmıştır. Bulgular, sigortacılık sektörü etkinliğinin düşük ve orta büyüme kantillerinde ekonomik büyümeyi desteklediğini göstermektedir. Bankacılık sektörü etkinliğinin etkisi ise daha sınırlı olup özellikle orta kantilde belirginleşmektedir. Sonuçlar, finansal etkinliğin büyüme üzerindeki etkisinin büyüme dağılımı boyunca değiştiğini ve bankacılık ile sigortacılık sektörlerinin ekonomik performansa katkısının aynı düzeyde olmadığını ortaya koymaktadır.

Keywords

Finansal Etkinlik, Bankacılık Sektörü, Sigortacılık Sektörü, Ekonomik Büyüme, Panel Kantil Regresyon

Supporting Institution

Bu makalenin hazırlanması sürecinde herhangi bir kurumdan maddi destek alınmamıştır.

Ethical Statement

Bu çalışma, ikincil ve kamuya açık ülke düzeyinde veriler kullandığından etik kurul izni gerektirmemektedir.

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Details

Primary Language

English

Subjects

Finance

Journal Section

Research Article

Authors

Gülhan Deniz ^*
0000-0002-2212-0033
Türkiye

Publication Date

October 29, 2026

Submission Date

May 20, 2026

Acceptance Date

August 31, 2026

Published in Issue

Year 2026 Volume: 9 Number: 2

DOI

https://doi.org/10.38057/bifd.1955341

IZ

https://izlik.org/JA43BX48TW

APA

Deniz, G. (2026). Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries. Bucak İşletme Fakültesi Dergisi, 9(2), 100-109. https://doi.org/10.38057/bifd.1955341

AMA

1.Deniz G. Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries. Bucak İşletme Fakültesi Dergisi. 2026;9(2):100-109. doi:10.38057/bifd.1955341

Chicago

Deniz, Gülhan. 2026. “Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries”. Bucak İşletme Fakültesi Dergisi 9 (2): 100-109. https://doi.org/10.38057/bifd.1955341.

EndNote

Deniz G (October 1, 2026) Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries. Bucak İşletme Fakültesi Dergisi 9 2 100–109.

IEEE

[1]G. Deniz, “Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries”, Bucak İşletme Fakültesi Dergisi, vol. 9, no. 2, pp. 100–109, Oct. 2026, doi: 10.38057/bifd.1955341.

ISNAD

Deniz, Gülhan. “Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries”. Bucak İşletme Fakültesi Dergisi 9/2 (October 1, 2026): 100-109. https://doi.org/10.38057/bifd.1955341.

JAMA

1.Deniz G. Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries. Bucak İşletme Fakültesi Dergisi. 2026;9:100–109.

MLA

Deniz, Gülhan. “Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries”. Bucak İşletme Fakültesi Dergisi, vol. 9, no. 2, Oct. 2026, pp. 100-9, doi:10.38057/bifd.1955341.

Vancouver

1.Gülhan Deniz. Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries. Bucak İşletme Fakültesi Dergisi. 2026 Oct. 1;9(2):100-9. doi:10.38057/bifd.1955341

24443

This work is licensed under a Creative Commons Attribution 4.0 International License.

Financial Sector Efficiency and Economic Growth: Evidence from Banking and Insurance Sectors in OECD Countries

Abstract

Keywords

Supporting Institution

Ethical Statement

Finansal Sektör Etkinliği ve Ekonomik Büyüme: OECD Ülkelerinde Bankacılık ve Sigortacılık Sektörlerinden Kanıtlar

Abstract

Keywords

Supporting Institution

Ethical Statement

References

Details

Primary Language

Subjects

Journal Section

Authors

Publication Date

Submission Date

Acceptance Date

Published in Issue

DOI

IZ

Cite