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Institutional Factors And Financial Sector Development
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Book Synopsis Institutional Factors and Financial Sector Development by : George C. Anayiotos
Download or read book Institutional Factors and Financial Sector Development written by George C. Anayiotos and published by International Monetary Fund. This book was released on 2009-11-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Too Cold, Too Hot, or Just Right? Assessing Financial Sector Development Across the Globe by : Mr.Adolfo Barajas
Download or read book Too Cold, Too Hot, or Just Right? Assessing Financial Sector Development Across the Globe written by Mr.Adolfo Barajas and published by International Monetary Fund. This book was released on 2013-03-28 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Political Institutions and Financial Development by : Stephen H. Haber
Download or read book Political Institutions and Financial Development written by Stephen H. Haber and published by Stanford University Press. This book was released on 2008 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume employ the insights and techniques of political science, economics and history to provide a fresh answer to this question.
Book Synopsis Managing the Impact of Resource Booms on the Real Effective Exchange Rate: The Role of Financial Sector Development by : International Monetary Fund
Download or read book Managing the Impact of Resource Booms on the Real Effective Exchange Rate: The Role of Financial Sector Development written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-12 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Measuring the Performance and Achievement of Social Objectives of Development Finance Institutions by : Manuela Francisco
Download or read book Measuring the Performance and Achievement of Social Objectives of Development Finance Institutions written by Manuela Francisco and published by World Bank Publications. This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper develops and tests a proposed methodology that puts forward a new integrated method for evaluating the performance of development finance institutions. This methodology applies assessment criteria that take into account both the social objective that the development finance institution addresses and the subsidies it received in order to achieve such an objective. This methodology is applied to two pilot case studies-Banadesa (Honduras) and Banrural (Guatemala). The authors calculate the previously tested subsidy dependence index, which measures the degree of an institution's subsidy dependence. The paper develops and estimates a new measure-the output index- which indicates the level to which the institution fulfills the social objectives of the state. The analysis integrates the subsidy dependence index and the output index to assess the effectiveness associated with meeting the social objective. The findings suggest that the integration of the two indexes can constitute the basis of a meaningful evaluation framework for the performance of development finance institutions. This new methodology can also be a useful metric for policy makers who are seeking to decide on an optimal allocation of scarce funds for development finance institutions that pursue social goals and for management that seeks improved performance outcomes.
Book Synopsis Financial Sector Development in the Pacific Rim by : Takatoshi Ito
Download or read book Financial Sector Development in the Pacific Rim written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-05-15 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Handbook of Finance and Development by : Thorsten Beck
Download or read book Handbook of Finance and Development written by Thorsten Beck and published by Edward Elgar Publishing. This book was released on 2018-07-27 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Financial Sector Development in Ghana by : James Atta Peprah
Download or read book Financial Sector Development in Ghana written by James Atta Peprah and published by Springer Nature. This book was released on 2023-01-20 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 :Fatima Muhammad Abdulkarim Publisher :Walter de Gruyter GmbH & Co KG ISBN 13 :3110600935 Total Pages :127 pages Book Rating :4.1/5 (16 download)
Book Synopsis Financialization of the economy and income inequality in selected OIC and OECD countries by : Fatima Muhammad Abdulkarim
Download or read book Financialization of the economy and income inequality in selected OIC and OECD countries written by Fatima Muhammad Abdulkarim and published by Walter de Gruyter GmbH & Co KG. This book was released on 2019-11-18 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Legal Institutions and Financial Development by : Thorsten Beck
Download or read book Legal Institutions and Financial Development written by Thorsten Beck and published by . This book was released on 2016 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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).
Book Synopsis Macroeconomic Institutions and Development by : Bilin Neyapti
Download or read book Macroeconomic Institutions and Development written by Bilin Neyapti and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Bilin Neyapti provides a framework for understanding some of the most important issues confronting the world's economy today. Viewing the government as a social planner charged with the task of delivering sustainable development as a public good, she examines features of global markets such as central bank independence, inflation targeting, monetary unions, and currency boards, in each case evaluating the capacity of the relevant institutions to deliver efficiency, equality, and stability over the long term. Neyapti's broad-ranging and ambitious book should be of value to anyone interested in the development and improvement of the institutions undergirding the world's financial system.' Geoffrey P. Miller, New York University Law School, US 'Poor nations have learned the hard way that there is no greater threat to their economic development than macroeconomic crises. Avoiding macro instability in turn depends on good monetary and fiscal institutions. This book by Bilin Neyapti part textbook, part treatise is a terrific synthesis of the relevant literature and an excellent addition to it.' Dani Rodrik, Harvard University, US The fading explanatory power of earlier development theories in providing a satisfactory account of diverse developmental experiences has necessitated a new framework to understand economic development. Bilin Neyapti presents this new framework, known as New Development Economics (NDE), which combines new institutional economics with collective action theory to explain the dynamic interaction between institutions and economic development. Besides reviewing earlier development theories and the fundamental building blocks of NDE, the author uses the NDE framework to present theoretical underpinnings and panel evidence on the effectiveness of fiscal and monetary institutions. The book incorporates the essential elements of institutional theory and highlights the issues pertaining to the measurement of institutional characteristics and the empirical analyses involving such measurement. It provides the theoretical framework of and empirical evidence on fiscal institutions, covering budgetary rules and procedures as well as fiscal decentralization, and reviews the theoretical framework for monetary institutions such as central bank independence, currency boards, monetary unions and inflation targeting in addition to providing empirical evidence on their effectiveness. The role of bank regulation and supervision is also investigated. This path-breaking and original book will prove a fascinating read for a wide-ranging audience including academics, think tanks, international development agencies and policymakers within the fields of development, economics, heterodox economics and money, banking and finance.
Book Synopsis Financial Inclusion and Development in the CEMAC by : Adrian Alter
Download or read book Financial Inclusion and Development in the CEMAC written by Adrian Alter and published by International Monetary Fund. This book was released on 2015-11-09 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Economic Growth and Financial Development by : Muhammad Shahbaz
Download or read book Economic Growth and Financial Development written by Muhammad Shahbaz and published by Springer Nature. This book was released on 2021-09-21 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Creating an Efficient Financial System by : Thorsten Beck
Download or read book Creating an Efficient Financial System written by Thorsten Beck and published by World Bank Publications. This book was released on 2006 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Introducing a New Broad-based Index of Financial Development by : Katsiaryna Svirydzenka
Download or read book Introducing a New Broad-based Index of Financial Development written by Katsiaryna Svirydzenka and published by International Monetary Fund. This book was released on 2016-01-12 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Institutions, Financial Development and Economic Growth by : Hoang Lan Ha
Download or read book Institutions, Financial Development and Economic Growth written by Hoang Lan Ha and published by . This book was released on 2005 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Advancing Financial Development in Latin America and the Caribbean by : Dyna Heng
Download or read book Advancing Financial Development in Latin America and the Caribbean written by Dyna Heng and published by International Monetary Fund. This book was released on 2016-04-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.
