Do Financial Sector Reforms Lead To Financial Development Evidence From A New Dataset

Author : Thierry Tressel
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.67/5 ( download)

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Download or read book Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset written by Thierry Tressel and published by International Monetary Fund. This book was released on 2008-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a Binary Classification Tree (BCT) model to analyze banking crises in 50 emerging market and developing countries during 1990-2005. The BCT identifies key indicators and their threshold values at which vulnerability to banking crisis increases. The three conditions identified as crisis-prone-(i) very high inflation, (ii) highly dollarized bank deposits combined with nominal depreciation or low liquidity, and (iii) low bank profitability-highlight that foreign currency risk, poor financial soundness, and macroeconomic instability are key vulnerabilities triggering banking crises. The main results survive under alternative robustness checks, confirming the importance of the BCT approach for monitoring banking system vulnerabilities.

Author : Thierry Tressel
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.48/5 ( download)

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Download or read book IMF Working Papers written by Thierry Tressel and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Abdul Abiad
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.59/5 ( download)

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Download or read book A New Database of Financial Reforms written by Abdul Abiad and published by International Monetary Fund. This book was released on 2008-12 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper introduces a new database of financial reforms, covering 91 economies over 1973–2005. It describes the content of the database, the information sources utilized, and the coding rules used to create an index of financial reform. It also compares the database with other measures of financial liberalization, provides descriptive statistics, and discusses some possible applications. The database provides a multi-faceted measure of reform, covering seven aspects of financial sector policy. Along each dimension the database provides a graded (rather than a binary) score, and allows for reversals.

Author : Mr.Jonathan David Ostry
Publisher : International Monetary Fund
ISBN 13 : 1589068181
Total Pages : 62 pages
Book Rating : 4.86/5 ( download)

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Download or read book Structural Reforms and Economic Performance in Advanced and Developing Countries written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2009-10-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.

Author : Mr.Jonathan David Ostry
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.7Q/5 ( download)

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Download or read book Structural Reforms and Economic Performance in Advanced and Developing Countries written by Mr.Jonathan David Ostry and published by International Monetary Fund. This book was released on 2009-10-15 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, this book examines the impact on economic performance in 91 countries of policies designed to increase the role of market forces and competition. Such policies, known as structural reforms, have been broadly pursued by the country groupings analyzed in this study since 1970, but individual country experiences have differed. Real and financial reforms have, for example, boosted income growth widely. Financial reforms have also raised growth through several channels, including lower domestic credit constraints and larger FDI inflows. The growth effects of financial and real reforms reflect a more favorable assessment of the future profitability and solvency of domestic firms in most countries, as embodied in credit ratings. Growth effects, however, differ significantly across countries depending on the reform sequencing strategy adop

Author : Ms.Prachi Mishra
Publisher : International Monetary Fund
ISBN 13 : 1455201847
Total Pages : 41 pages
Book Rating : 4.46/5 ( download)

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Download or read book Democracy and Reforms written by Ms.Prachi Mishra and published by International Monetary Fund. This book was released on 2010-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product markets, agriculture, and trade for 150 countries over the period 1960 - 2004. Democracy has a positive and significant impact on the adoption of economic reforms but there is no evidence that economic reforms foster democracy. Our results are robust to the inclusion of a large variety of controls and estimation strategies.

Author : Jeremy Greenwood
Publisher : DIANE Publishing
ISBN 13 : 1437933971
Total Pages : 46 pages
Book Rating : 4.70/5 ( download)

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Download or read book Quantifying the Impact of Financial Development on Economic Development written by Jeremy Greenwood and published by DIANE Publishing. This book was released on 2010-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as intermediation spreads and the firm-size distribution for the years 1974 and 2004. It is then used to study the international data, using cross-country interest-rate spreads and per-capita GDP. The analysis suggests that a country like Uganda could increase its output by 140 to 180 percent if it could adopt the world's best practice in the financial sector. Still, this amounts to only 34 to 40 percent of the gap between Uganda's potential and actual output. Charts and tables.

Author : Ross Levine
Publisher :
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.00/5 ( download)

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Download or read book Finance and Growth written by Ross Levine and published by . This book was released on 2004 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--NBER website

Author : Asli Demirgüç-Kunt
Publisher :
ISBN 13 : 9781785367427
Total Pages : 1616 pages
Book Rating : 4.20/5 ( download)

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Download or read book Finance and Growth written by Asli Demirgüç-Kunt and published by . This book was released on 2018-07-27 with total page 1616 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume collection brings together major contributions to the study of finance and growth. It includes conceptual and empirical papers that use a range of methodologies to discover the connections between financial systems - including financial contracts, markets, and intermediaries - and the functioning of the economy - including economic growth, entrepreneurship, technological innovation, poverty alleviation, the distribution of income, and the structure and volatility of economies. It also discusses contributions to the study of the legal, political, institutional, social capital and policy determinants of financial development. With an original introduction by the editors, this collection is an important resource for students, academics and practitioners.

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464814961
Total Pages : 281 pages
Book Rating : 4.69/5 ( download)

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Download or read book Global Financial Development Report 2019/2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-22 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over a decade has passed since the collapse of the U.S. investment bank, Lehman Brothers, marked the onset of the largest global economic crisis since the Great Depression. The crisis revealed major shortcomings in market discipline, regulation and supervision, and reopened important policy debates on financial regulation. Since the onset of the crisis, emphasis has been placed on better regulation of banking systems and on enhancing the tools available to supervisory agencies to oversee banks and intervene speedily in case of distress. Drawing on ten years of data and analysis, Global Financial Development Report 2019/2020 provides evidence on the regulatory remedies adopted to prevent future financial troubles, and sheds light on important policy concerns. To what extent are regulatory reforms designed with high-income countries in mind appropriate for developing countries? What has been the impact of reforms on market discipline and bank capital? How should countries balance the political and social demands for a safety net for users of the financial system with potentially severe moral hazard consequences? Are higher capital requirements damaging to the flow of credit? How should capital regulation be designed to improve stability and access? The report provides a synthesis of what we know, as well as areas where more evidence is still needed. Global Financial Development Report 2019/2020 is the fifth in a World Bank series. The accompanying website tracks financial systems in more than 200 economies before, during, and after the global financial crisis (http://www.worldbank.org/en/publication/gfdr) and provides information on how banking systems are regulated and supervised around the world (http://www.worldbank.org/en/research/brief/BRSS).