Abstract
This paper empirically analyzes the impact of market structure in the banking sector on industrial structure through instrumental variables regression using cross-country panel data for 101 developing countries from 2005-2020. It is found that the market concentration of the banking industry in developing countries is negatively related to industrial structure. The increase of market concentration in the banking industry is not conducive to changing industrial structures in developing countries. The level of banking industry development is positively correlated with industrial structure. The overall development of the banking industry is conducive to industrial development and structural adjustment.
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