Institutional Development, Financial Deepening and Economic Growth PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Institutional Development, Financial Deepening and Economic Growth PDF full book. Access full book title Institutional Development, Financial Deepening and Economic Growth by Paul Wachtel. Download full books in PDF and EPUB format.
Author: Paul Wachtel
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
Get Book Here
Book Description
There have been profound changes in both political and economic institutions in China over the last twenty years. Moreover, the pace of transition has led to variation across the country in the level of development. In this paper, we use panel data for the Chinese provinces to study the role of legal institutions, financial deepening and political pluralism on growth rates. The most important institutional developments for a transition economy are the emergence and legalization of the market economy, the establishment of secure property rights, the growth of a private sector, the developmentof financial sector institutions and markets, and the liberalization of political institutions. We develop measures of these phenomena, which are used as explanatory variables in regression models to explainprovincial GDP growth rates. Our evidence suggests that the development of financial markets, legal environment, awareness of property rights and political pluralism are associated with stronger growth.
Author: Paul Wachtel
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
Get Book Here
Book Description
There have been profound changes in both political and economic institutions in China over the last twenty years. Moreover, the pace of transition has led to variation across the country in the level of development. In this paper, we use panel data for the Chinese provinces to study the role of legal institutions, financial deepening and political pluralism on growth rates. The most important institutional developments for a transition economy are the emergence and legalization of the market economy, the establishment of secure property rights, the growth of a private sector, the developmentof financial sector institutions and markets, and the liberalization of political institutions. We develop measures of these phenomena, which are used as explanatory variables in regression models to explainprovincial GDP growth rates. Our evidence suggests that the development of financial markets, legal environment, awareness of property rights and political pluralism are associated with stronger growth.
Author: Iftekhar Hasan
Publisher:
ISBN: 9789524628327
Category : China
Languages : en
Pages : 27
Get Book Here
Book Description
Tiivistelmä.
Author: Kui Wai Li
Publisher:
ISBN:
Category : Asia
Languages : en
Pages : 44
Get Book Here
Book Description
Author: Edward S. Shaw
Publisher: Oxford University Press, USA
ISBN: 9780195016338
Category : Developing countries
Languages : en
Pages : 260
Get Book Here
Book Description
Author: Ms.Ratna Sahay
Publisher: International Monetary Fund
ISBN: 1498312616
Category : Business & Economics
Languages : en
Pages : 41
Get Book Here
Book Description
The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation—not necessarily more regulation—thus leads to greater possibilities both for development and stability.
Author: Edward Stone Shaw
Publisher: New York : Oxford University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 280
Get Book Here
Book Description
Monograph on the role of financial deepening in economic development, or the accumulation of financial assets at a pace faster than accumulation of nonfinancial wealth, through focus on the liberalization of financial markets - discusses classical economic theories regarding capital formation, advocates coordination of financial policy and fiscal policy reforms to deepen finance, and examines effects on the foreign exchange market, trade, capital flows, etc. References.
Author: Basudeb Guha-Khasnobis
Publisher: Springer
ISBN: 0230594026
Category : Business & Economics
Languages : en
Pages : 337
Get Book Here
Book Description
This book explores country case studies and works that detail the exact transmission mechanisms through which financial development can enhance pro-poor development in order to derive best practices in this field. This is an important companion for professionals and policymakers, and also a vital reference source for students.
Author: George C. Anayiotos
Publisher: International Monetary Fund
ISBN: 1451874049
Category : Business & Economics
Languages : en
Pages : 27
Get Book Here
Book Description
The paper assesses the effects of certain institutional factors on financial sector development in Sub- Saharan Africa (SSA). Data Envelopment Analysis (DEA) is applied to determine the extent to which these institutions affect the financial sector, and to suggest which institutions play a more critical role in each country. Results suggest that institutional factors affect financial depth and access to financial services more than asset quality and profitability (measured by nonperforming loans (NPL) and return on equity (ROE). The results also suggest that depth of credit information has the strongest influence on the NPL ratio, and political stability affects access the most. Based on model findings, policy implications on prioritizing institutional reforms to enhance financial sector development are suggested for individual countries and for country groups.
Author: Katsiaryna Svirydzenka
Publisher: International Monetary Fund
ISBN: 1513530739
Category : Business & Economics
Languages : en
Pages : 43
Get Book Here
Book Description
There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers.
Author: Mr.Adolfo Barajas
Publisher: International Monetary Fund
ISBN: 1484320824
Category : Business & Economics
Languages : en
Pages : 30
Get Book Here
Book Description
This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and macroeconomic factors that impact financial system deepening. We operationalize this framework using a benchmarking exercise, which relates the difference between the actual level of financial development and the level predicted by structural characteristics, to an array of policy variables. We also show that an overshooting of the financial system significantly beyond levels predicted by its structural fundamentals is associated with credit booms and busts.
