Institutional Factors And Financial Sector Development

Author : George C. Anayiotos,Hovhannes Toroyan
Publisher : International Monetary Fund
Page : 27 pages
File Size : 55,7 Mb
Release : 2009-11-01
Category : Business & Economics
ISBN : 9781451874044

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Institutional Factors and Financial Sector Development by George C. Anayiotos,Hovhannes Toroyan Pdf

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 : Mr.Adolfo Barajas,Thorsten Beck,Ms.Era Dabla-Norris,Mr.Reza Yousefi
Publisher : International Monetary Fund
Page : 30 pages
File Size : 45,9 Mb
Release : 2013-03-28
Category : Business & Economics
ISBN : 9781484351086

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Too Cold, Too Hot, or Just Right? Assessing Financial Sector Development Across the Globe by Mr.Adolfo Barajas,Thorsten Beck,Ms.Era Dabla-Norris,Mr.Reza Yousefi Pdf

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.

Author : Takatoshi Ito,Andrew K. Rose
Publisher : University of Chicago Press
Page : 402 pages
File Size : 51,7 Mb
Release : 2009-05-15
Category : Business & Economics
ISBN : 9780226386867

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Financial Sector Development in the Pacific Rim by Takatoshi Ito,Andrew K. Rose Pdf

The reform in Asian financial sectors—especially in banking and stock markets—has been remarkable since the currency crisis of 1997–98. East Asia is now a major player in international finance, providing serious competition to the more traditional financial centers of London and New York. Financial Sector Development in the Pacific Rim provides a rich collection of theoretical and empirical analyses of the growing capital markets in the region. Bringing together authors from various East Asian and Pacific nations, this volume examines the institutional factors influencing financial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform. Financial Sector Development in the Pacific Rim offers the comparative analysis necessary to answer broad questions about economic development and the future of Asia.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 24 pages
File Size : 53,6 Mb
Release : 2021-03-12
Category : Business & Economics
ISBN : 9781513572659

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Managing the Impact of Resource Booms on the Real Effective Exchange Rate: The Role of Financial Sector Development by International Monetary Fund Pdf

Whereas most of the literature related to the so-called “resource curse” tends to emphasize on institutional factors and public policies, in this research we focus on the role of the financial sector, which has been surprisingly overlooked. We find that countries that have financial systems with more depth, as well as those that actively manage their central banks’ balance sheets experience less exchange-rate appreciation than countries that do not. We analyze the relationship between these two findings and suggest that they appear to follow separate mechanisms.

Author : James Atta Peprah,Evelyn Derera,Harold Ngalawa,Thankom Arun
Publisher : Springer Nature
Page : 321 pages
File Size : 41,9 Mb
Release : 2023-01-20
Category : Business & Economics
ISBN : 9783031093456

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Financial Sector Development in Ghana by James Atta Peprah,Evelyn Derera,Harold Ngalawa,Thankom Arun Pdf

This book investigates factors that contribute to the development of an efficient financial sector in Ghana. While sustainable finance has long been known to propel economic growth and development, and while many African countries have taken initiatives to develop integrated frameworks of their financial sectors that tackle developmental challenges, scholars and policymakers have always grappled with understanding of factors that enhance performance of the financial sector. In this book, an expert team of authors examines the financial landscape, central bank policies, competition, financial innovation, financial inclusion and banking stability in Ghana, while also exploring how financing models such as enterprise finance and microfinance can be more effective in sustaining financial markets. The authors discuss how Ghana can build fortified institutions, regulatory frameworks, and productive capacity to strengthen the financial sector and foster pathways that will enhance economic development. Empirical and scientific evidence give this book a unique approach that is both qualitative and quantitative.

Author : Adrian Alter,Boriana Yontcheva
Publisher : International Monetary Fund
Page : 31 pages
File Size : 49,6 Mb
Release : 2015-11-09
Category : Business & Economics
ISBN : 9781513570181

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Financial Inclusion and Development in the CEMAC by Adrian Alter,Boriana Yontcheva Pdf

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.

Author : Thorsten Beck
Publisher : World Bank Publications
Page : 43 pages
File Size : 41,8 Mb
Release : 2006
Category : Capital market
ISBN : 8210379456XXX

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Creating an Efficient Financial System by Thorsten Beck Pdf

Financial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.

Author : Hoang Lan Ha
Publisher : Unknown
Page : 190 pages
File Size : 52,9 Mb
Release : 2005
Category : Banks and banking
ISBN : UCSD:31822035932250

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Institutions, Financial Development and Economic Growth by Hoang Lan Ha Pdf

Author : Muhammad Shahbaz,Alaa Soliman,Subhan Ullah
Publisher : Springer Nature
Page : 245 pages
File Size : 49,7 Mb
Release : 2021-09-21
Category : Business & Economics
ISBN : 9783030790035

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Economic Growth and Financial Development by Muhammad Shahbaz,Alaa Soliman,Subhan Ullah Pdf

This book looks into the relationship between financial development, economic growth, and the possibility of a potential capital flight in the transmission process. It also examines the important role that financial institutions, financial markets, and country-level institutional factors play in economic growth and their impact on capital flight in emerging economies. By presenting new theoretical insights and empirical country studies as well as econometric approaches, the authors focus on the relationship between financial development and economic growth with capital flight in the era of financial crisis. Therefore, this book is a must-read for researchers, scholars, and policy-makers, interested in a better understanding of economic growth and financial development of emerging economies alike.

Author : Thorsten Beck,Ross Levine
Publisher : Edward Elgar Publishing
Page : 616 pages
File Size : 47,6 Mb
Release : 2018-07-27
Category : Business & Economics
ISBN : 9781785360510

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Handbook of Finance and Development by Thorsten Beck,Ross Levine Pdf

This Handbook provides a comprehensive overview of the relationship between financial and real sector development. The different chapters, written by leading contributors in the field, survey research on the importance of financial development for economic growth, the causes and consequences of financial fragility, the historic development of financial systems in several major economies and regions of the world, and the regulatory and supervisory underpinnings of financial sector development.

Author : Kim B. Staking
Publisher : IDB
Page : 200 pages
File Size : 41,7 Mb
Release : 1997
Category : Business & Economics
ISBN : 1886938237

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Policy-based Finance and Market Alternatives by Kim B. Staking Pdf

Author : Fatima Muhammad Abdulkarim,Abbas Mirakhor,Baharom Abdul Hamid
Publisher : Walter de Gruyter GmbH & Co KG
Page : 133 pages
File Size : 45,6 Mb
Release : 2019-11-18
Category : Business & Economics
ISBN : 9783110599404

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Financialization of the economy and income inequality in selected OIC and OECD countries by Fatima Muhammad Abdulkarim,Abbas Mirakhor,Baharom Abdul Hamid Pdf

Income inequality is a serious problem confronting not only the developed world but also developing countries. Recently, financialization has been one of the culprits identified in literature as one of the cause of income inequality. This book offers the only detailed presentation of the how financialization aided the spread of income inequality in Organization of Islamic Cooperation, OIC countries. Finance has taking a center stage in the affairs of most developing economies, surpassing the real sector of the economy. The result is the creation of an indebted society in which people are comfortable with financing their financial needs through credit. This creates a debt laden society that is trapped in the cycle of debt. This book represents a comprehensive and indispensable source for students, practitioners and the general public at large. It presents data which shows the buildup of debt and the rising income inequality in Muslim countries. It includes discussion of the rise in rentier income, financialization of everyday life, decline in physical capital accumulation and deregulation of the financial sector. The book therefore, proffers solutions on how Muslim countries can come out of the present economic problem facing them. The promotion and adoption of Islamic principles, which promotes risk sharing based contracts as against debt based transaction is the way to go. When financial contracts are based on the principles of risk sharing, any gains from economic activities get to be shared equitably. Hence, not only capital owners get to enjoy the benefit from the income derived from investments, but rather, all parties that partake in the contract. Distinguished by its clarity and readability as it is written in a very easy to understand language, it is an important reference work for any concerned individual interested on the recent causes of income inequality in Muslim World.

Author : Howard Stein
Publisher : University of Chicago Press
Page : 353 pages
File Size : 51,6 Mb
Release : 2008-09-15
Category : Political Science
ISBN : 9780226771656

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Beyond the World Bank Agenda by Howard Stein Pdf

Despite massive investment of money and research aimed at ameliorating third-world poverty, the development strategies of the international financial institutions over the past few decades have been a profound failure. Under the tutelage of the World Bank, developing countries have experienced lower growth and rising inequality compared to previous periods. In Beyond the World Bank Agenda, Howard Stein argues that the controversial institution is plagued by a myopic, neoclassical mindset that wrongly focuses on individual rationality and downplays the social and political contexts that can either facilitate or impede development. Drawing on the examples of Africa, Asia, Latin America, and transitional European economies, this revolutionary volume proposes an alternative vision of institutional development with chapter-length applications to finance, state formation, and health care to provide a holistic, contextualized solution to the problems of developing nations. Beyond the World Bank Agenda will be essential reading for anyone concerned with forging a new strategy for sustainable development.

Author : Thorsten Beck
Publisher : Unknown
Page : 41 pages
File Size : 55,5 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290703966

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Legal Institutions and Financial Development by Thorsten Beck Pdf

A burgeoning literature finds that financial development exerts a first-order impact on long-run economic growth, which raises critical questions, such as why do some countries have well-developed growth-enhancing financial systems while others do not? The law and finance theory focuses on the role of legal institutions in explaining international differences in financial development. First, the law and finance theory holds that in countries where legal systems enforce private property rights, support private contractual arrangements, and protect the legal rights of investors, savers are more willing to finance firms and financial markets flourish. Second, the different legal traditions that emerged in Europe over previous centuries and were spread internationally through conquest, colonization, and imitation help explain cross-country differences in investor protection, the contracting environment, and financial development today. But there are countervailing theories and evidence that challenge both parts of the law and finance theory. Many argue that there is more variation within than across legal origin families. Others question the central role of legal tradition and point to politics, religious orientation, or geography as the dominating factor driving financial development. Finally, some researchers question the central role of legal institutions and argue that other factors, such as a competitive products market, social capital, and informal rules are also important for financial development. Beck and Levine describe the law and finance theory, along with skeptical and competing views, and review empirical evidence on both parts of the law and finance view.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to understand the link between financial development and economic growth. It was prepared for Claude Menard and Mary Shirley, eds., Handbook of New Institutional Economics, Kluwer Dordrecht (The Netherlands), forthcoming (2004).

Author : United Nations Environment Programme (UNEP)
Publisher : United Nations
Page : 106 pages
File Size : 45,8 Mb
Release : 2016-01-27
Category : Political Science
ISBN : 9789210602426

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The Financial System We Need by United Nations Environment Programme (UNEP) Pdf

The Financial System We Need argues that there is now a historic opportunity to shape a financial system that can more effectively finance the development of an inclusive, green economy. This opportunity is based on a growing trend in policy innovation from central banks, financial regulators and standard setters, who are incorporating sustainability factors into the rules that govern the financial system. The report draws together practical examples of policy changes in banking, capital markets, insurance and institutional investment, drawing on detailed work in several countries. It offers a Framework for Action that shows how a systematic approach can now be taken at both the national and international levels.