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| Identifying the Effect of Institutional Quality on Foreign Banks Entry: In View of Control of Corruption |
| YAO Yaojun
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| School of Finance, Zhejiang Gongshang University |
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Abstract Control of corruption is an important dimension of institutional quality. Contract-intensive financial business could reinforce the friction of corruption on foreign banks entry, and as pure new-entrants of market, foreign banks would commit high cost of “efficient corruption”, so corruption would prevent foreign banks entry, and improving institutional quality through control of corruption could significantly promote banking openness. Using China's province-level data about subjective perception and applying county-level population size and mineral resource abundance as instrument variables, this paper has identified the effect on foreign banks entry of institutional quality. This paper suggests, that insisting on anti-corruption as a core policy to improve institutional quality will certainly advance the open process of banking and wider financial system.
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Received: 10 June 2015
Published: 01 January 1900
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