Determinants Of Financial Development
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Determinants Of Financial Development
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Author : Y. Huang
language : en
Publisher: Springer
Release Date : 2010-11-24
Determinants Of Financial Development written by Y. Huang and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-24 with Business & Economics categories.
A PDF version of this book is available for free in open access via the OAPEN Library platform, www.oapen.org. This book examines the emergence of both financial markets and carbon markets, and provides an in-depth investigation on the fundamental determinants of financial development.
Determinants Of Financial Development
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Author :
language : en
Publisher:
Release Date : 2010
Determinants Of Financial Development written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Emissions trading categories.
"As the world has witnessed the worst financial crisis and climate crisis of our age, during the period of 2007-2009, the issues surrounding the emergence and development of financial markets and carbon markets is becoming an increasingly significant area of research and debate worldwide. By engaging with recently developed methods of research and new areas of practice, this book investigates the political, economic, policy and geographic determinants of the development of financial markets. The volume examines the causality between financial development and aggregate private investment from an economic perspective. It also explores the consequences of political liberalization, focusing on the impact of institutional improvement on financial development. It studies what stimulates governments to initiate reforms aimed at boosting financial development, and analyses the determinants of carbon markets in developing countries from a geographic point of view. This book is essential reading for all interested in economic and financial development, climate change, environmental economics, and applied econometrics"--Publisher's description.
What Matters For Financial Development And Stability
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Author : Raja Almarzoqi
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-24
What Matters For Financial Development And Stability written by Raja Almarzoqi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-24 with Business & Economics categories.
This study aims to identify policies that influence the development of financial institutions as measured across three dimensions: depth, efficiency, and stability. Applying the concept of the financial possibility frontier, developed by Beck & Feyen (2013) and formalized by Barajas et al (2013a), we determine key policy variables affecting the gap between actual levels of development and benchmarks predicted by structural variables. Our dynamic panel estimation shows that inflation, trade openness, institutional quality, and banking crises significantly affect financial development. Our analysis also helps identify potential complementarities and trade-offs for policy makers, based on the effect of the policy variables across the different dimensions of financial development.
Finance Financial Sector Policies And Long Run Growth
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Author : Asli Demirguc-Kunt
language : en
Publisher: World Bank Publications
Release Date : 2008
Finance Financial Sector Policies And Long Run Growth written by Asli Demirguc-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Access to Finance categories.
Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.
Capital Inflows Financial Development And Domestic Investment
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Author : Ms.Oana Luca
language : en
Publisher: International Monetary Fund
Release Date : 2012-05-01
Capital Inflows Financial Development And Domestic Investment written by Ms.Oana Luca and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-01 with Business & Economics categories.
We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were the main contributors to the increase over time in net capital inflows and domestic credit. However, the large cross-country differences in domestic and international finance are best explained by fundamentals such as institutional quality, access to international export markets, and an appropriate macroeconomic policy. Both private capital inflows and domestic credit exert a positive effect on investment; they also mediate most of the investment impact of the global price of risk and domestic borrowing costs. Surprisingly, neither greater domestic credit nor greater institutional quality increase the extent to which capital inflows translate into domestic investment.
Trade Liberalization And The Politics Of Financial Development
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Author : Matias Braun
language : en
Publisher: World Bank Publications
Release Date : 2005
Trade Liberalization And The Politics Of Financial Development written by Matias Braun and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Finance categories.
"A well developed financial system enhances competition in the industrial sector by allowing easier entry. The impact varies across industries, however. For some, small changes in financial development quickly induce entry and dissipate incumbents' rents, generating strong incentives to oppose improvement of the financial system. In other sectors incumbents may even benefit from increased availability of external funds. The relative strength of promoters and opponents determines the political equilibrium level of financial system development. This may be perturbed by the effect of trade liberalization in the strength of each group. Using a sample of 41 trade liberalizers Braun and Raddatz conduct an event study and show that the change in the strength of promoters vis--̉vis opponents is a very good predictor of subsequent financial development. The result is not driven by changes in demand for external funds, or by the success of the trade policy. The relationship is mediated by policy reforms, the kind that induces competition in the financial sector, in particular. Real effects follow not so much from capital deepening but mainly through improved allocation. The effect is stronger in countries with high levels of governance, suggesting that incumbents resort to this costly but more subtle way of restricting entry where it is difficult to obtain more blatant forms of anti-competitive measures from politicians. This paper--a product of the Investment and Growth Team, Development Research Group--is part of a larger effort in the group to understand the relation between finance and the macroeconomy"--World Bank web site.
Finance And Growth
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Author : Aslı Demirgüç-Kunt
language : en
Publisher:
Release Date : 2018
Finance And Growth written by Aslı Demirgüç-Kunt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economic development categories.
Financial Inclusion And Development In The Cemac
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Author : Adrian Alter
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-09
Financial Inclusion And Development In The Cemac written by Adrian Alter and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-09 with Business & Economics categories.
This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.
A New Database On Financial Development And Structure
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Author : Thorsten Beck
language : en
Publisher:
Release Date : 2016
A New Database On Financial Development And Structure written by Thorsten Beck and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.Beck, Demirguc-Kunt, and Levine introduce a new database of indicators of financial development and structure across countries and over time.This database is unique in that it unites a variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.It improves on previous efforts by presenting data on the public share of commercial banks, by introducing indicators of the size and activity of nonbank financial institutions, and by presenting measures of the size of bond and primary equity markets.The compiled data permit the construction of financial structure indicators to measure whether, for example, a country's banks are larger, more active, and more efficient than its stock markets.These indicators can then be used to investigate the empirical link between the legal, regulatory, and policy environment and indicators of financial structure. They can also be used to analyze the implications of financial structure for economic growth.Beck, Demirguc-Kunt, and Levine describe the sources and construction of, and the intuition behind, different indicators and present descriptive statistics.This paper - a product of Finance, Development Research Group - is part of a broader effort in the group to understand the determinants of financial structure and its importance to economic development. The authors may be contacted at [email protected], [email protected], or [email protected].
A New Database On Financial Development And Structure
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Author : Thorsten Beck
language : en
Publisher: World Bank Publications
Release Date : 1999
A New Database On Financial Development And Structure written by Thorsten Beck and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Banca central categories.
This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.