What Matters For Financial Development And Stability
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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.
Emerging Issues In Financial Development
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Author : Tatiana Didier
language : en
Publisher: World Bank Publications
Release Date : 2013-12-17
Emerging Issues In Financial Development written by Tatiana Didier 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 2013-12-17 with Business & Economics categories.
This book synthesizes the results of a comprehensive analysis of the status, prospects, and challenges of sustainable financial development in Latin America, as well as the lessons for developed and developing countries.
Does Openness Matter For Financial Development In Africa
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Author : Mr.Antonio David
language : en
Publisher: International Monetary Fund
Release Date : 2014-06-09
Does Openness Matter For Financial Development In Africa written by Mr.Antonio David 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 2014-06-09 with Business & Economics categories.
This paper analyzes the links between financial and trade openness and financial development in Sub-Saharan African (SSA) countries. It is based on a panel dataset using methods that tackle slope heterogeneity, cross-sectional dependence and non-stationarity, important econometric problems that are often ignored in the literature. The results do not point to a general direct robust link between trade and capital account openness and financial development in SSA, once we control for other factors such as GDP per capita and inflation. But there is some indication that trade openness is more important for financial development in countries with better institutional quality. The findings might be due to a number of factors including distortions in domestic financial markets, relatively weak institutions and/or poor financial sector supervision. Thus, African policy makers should be cautious about expectations regarding immediate gains for financial development from greater international integration. Such gains are more likely to occur through indirect channels.
Financial Development Integration And Stability
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Author : Klaus Liebscher
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
Financial Development Integration And Stability written by Klaus Liebscher and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Political Science categories.
Financial industries in central, eastern and south-eastern Europe have undergone dramatic changes over the past decade. Foreign direct investment contributed to the development of market-oriented banking and financial systems able to support the rapid pace of economic growth in these countries. Policymakers, academics and private sector analysts have contributed to this volume with their stimulating insights on a broad range of issues, from recent credit booms to the cross-border integration of banking and capital markets. Anyone who wants to understand how finance, growth and financial stability interact in transition economies should read this book. Mario Draghi, Governor of the Banca d Italia and Chairman of the Financial Stability Forum This book highlights the achievements and challenges of the ongoing process of financial integration in Europe. The financial integration of Europe is both welcomed as an economic driving force and watched with concern as a source of potential stability. After all, changing financial, regulatory and corporate ownership structures are fuelling competition, capital mobility and financial intermediation, but at the same time creating new systemic risks. With a special focus on Central, Eastern and South-Eastern Europe, the contributors to this book explore a wide spectrum of underlying issues, including the finance-growth nexus, credit boom patterns, the implications of foreign bank entry modes, lessons learned from old EU member states and commercial bank strategies. Authoritative views from central bank officials and policymakers are complemented with a special focus on empirical and econometric evidence from academia as well as practical insights from key financial market players. This unique collection will be of great interest to economists and experts in the fields of financial markets and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes.
Mother Can I Trust The Government Sustained Financial Deepening
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Author : Ms.Genevieve Verdier
language : en
Publisher: International Monetary Fund
Release Date : 2010-09-01
Mother Can I Trust The Government Sustained Financial Deepening written by Ms.Genevieve Verdier 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 2010-09-01 with Business & Economics categories.
Only a minority of countries have succeeded in establishing a developed financial system, despite widespread financial liberalization. Confronted with this finding, the political institutions view claims that sustained financial deepening is most likely to take place in institutional environments where governments effectively impose constraints on their own powers in order to create trust. This paper identifies over 200 post-1960 episodes of accelerations in financial development in a large cross-section of countries. We find that the likelihood of an acceleration leading to sustained financial development increases greatly in environments that have high-quality political institutions.
Guidance Note For Article Iv Consultations
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2012-10-10
Guidance Note For Article Iv Consultations written by International Monetary Fund. Strategy, Policy, & Review Department 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 2012-10-10 with Business & Economics categories.
This note provides guidance to staff on the conduct of surveillance in the context of Article IV consultations, a core activity of the Fund. Surveillance involves the continuous monitoring of members‘ economic and financial policies and their impact on their own and global stability. During Article IV consultations, staff holds pointed discussions with country authorities on the economic situation, the authorities‘ policies and how these affect the country‘s stability, the role of potential or actual spillovers where relevant, and desirable policy adjustments. These discussions are then reported to the Fund‘s Executive Board for its consideration. The goal, through thorough analysis, candid discussions, and a peer-review mechanism, is to promote the stability of members‘ economies, as well as the effective operation of the international monetary system, including through maintaining global stability.
Ieo Report On The Evaluation Of The Financial Sector Assessment Program
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Author : International Monetary Fund. Independent Evaluation Office
language : en
Publisher: International Monetary Fund
Release Date : 2006-05-02
Ieo Report On The Evaluation Of The Financial Sector Assessment Program written by International Monetary Fund. Independent Evaluation Office 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 2006-05-02 with Business & Economics categories.
The Financial Sector Assessment Program (FSAP) is a joint IMF–World Bank initiative to provide countries with comprehensive evaluations of their financial systems.The IEO evaluation assessed the effectiveness of the FSAP from the perspective of the IMF. The main findings address the following areas: the nature of priority setting under the FSAP; the efficiency of FSAP processes and quality of the main diagnostic tools; the overall quality of FSAP content; how well the IMF has used FSAP results in its surveillance, technical assistance, and program activities; and evidence on the overall impact of the FSAP on the domestic policy dialogue, changes in policies and institutions, and market participants.
Taming Financial Development To Reduce Crises
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Author : Mr.Sami Ben Naceur
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-06
Taming Financial Development To Reduce Crises written by Mr.Sami Ben Naceur 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 2019-05-06 with Business & Economics categories.
This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it appears that financial development, from an institutional dimension and to a lesser extent from a market dimension, triggers financial instability within a one- to two-year horizon. Additionally, whereas financial access is destabilizing for advanced countries, it is stabilizing for emerging and low income ones. Both results have important implications for macroprudential policies and financial regulations.
Financial Sector Assessment
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2005-09-29
Financial Sector Assessment written by World Bank 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 2005-09-29 with Business & Economics categories.
In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.
Monetary Policy In Low Financial Development Countries
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Author : Juan Antonio Morales
language : en
Publisher: Oxford University Press
Release Date : 2021
Monetary Policy In Low Financial Development Countries written by Juan Antonio Morales and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business & Economics categories.
This book gives a broad overview of the main monetary policy challenges faced by countries that are in the lower income range, have an underdeveloped financial sector, and are weakly integrated to the international capital market.