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Author : Fidel Jaramillo
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4./5 ( download)
Download or read book The Effect of Financial Liberalization on the Allocation of Credit written by Fidel Jaramillo and published by World Bank Publications. This book was released on 1993 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Williamson
Publisher : Princeton University International Finance Section, Department of Econmics
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.F/5 ( download)
Download or read book A Survey of Financial Liberalization written by John Williamson and published by Princeton University International Finance Section, Department of Econmics. This book was released on 1998 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yoon-Je Cho
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book The Effects of Financial Liberalization on the Development of the Financial Market and the Allocation of Credit to Corporate Sectors written by Yoon-Je Cho and published by . This book was released on 1986 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Matias Braun
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4./5 ( download)
Download or read book Trade Liberalization and the Politics of Financial Development written by Matias Braun and published by World Bank Publications. This book was released on 2005 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A well developed financial system enhances competition in the industrial sector by allowing easier entry. The impact varies across industries, however. For some, small changes in financial development quickly induce entry and dissipate incumbents' rents, generating strong incentives to oppose improvement of the financial system. In other sectors incumbents may even benefit from increased availability of external funds. The relative strength of promoters and opponents determines the political equilibrium level of financial system development. This may be perturbed by the effect of trade liberalization in the strength of each group. Using a sample of 41 trade liberalizers Braun and Raddatz conduct an event study and show that the change in the strength of promoters vis--̀‰vis opponents is a very good predictor of subsequent financial development. The result is not driven by changes in demand for external funds, or by the success of the trade policy. The relationship is mediated by policy reforms, the kind that induces competition in the financial sector, in particular. Real effects follow not so much from capital deepening but mainly through improved allocation. The effect is stronger in countries with high levels of governance, suggesting that incumbents resort to this costly but more subtle way of restricting entry where it is difficult to obtain more blatant forms of anti-competitive measures from politicians. This paper--a product of the Investment and Growth Team, Development Research Group--is part of a larger effort in the group to understand the relation between finance and the macroeconomy"--World Bank web site.
Author : Tim Niepel
Publisher : GRIN Verlag
ISBN 13 : 3656972532
Total Pages : 43 pages
Book Rating : 4.6/5 (569 download)
Download or read book Financial Liberalization, Credit Market Imperfections and Financial System Stability written by Tim Niepel and published by GRIN Verlag. This book was released on 2015-06-03 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Business economics - Investment and Finance, grade: 1,5, Utrecht University (Utrecht School of Economics), language: English, abstract: Financial liberalization stimulates competition and thereby supposedly increases the efficiency of investment. A simple credit market model is developed to show that such efficiency improvements may be disturbed by competition-induced incentives for banks to accept higher default rates, which result in instability of the financial system. Thereby we offer a complementary explanation to the relationship between competition and stability in financial markets. Consequently we argue that government intervention, in the form of intelligent regulation, is necessary to ensure the development of sustainable financial markets.
Author : Mr.Eduardo Borensztein
Publisher : International Monetary Fund
ISBN 13 : 1451843828
Total Pages : 38 pages
Book Rating : 4.4/5 (518 download)
Download or read book Credit Allocation and Financial Crisis in Korea written by Mr.Eduardo Borensztein and published by International Monetary Fund. This book was released on 1999-02-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes some of the structural problems associated with the Korean financial sector, and investigates whether the financial system has allocated credit in an efficient way over the past three decades. Using data for 32 manufacturing sectors, we find no evidence that credit flows were directed to the relatively more profitable sectors, either before or after the financial reforms. We also find that the flow of credits did not contribute to improve the economic performance of the favored industries over time.
Author : Mrs.Poonam Gupta
Publisher : International Monetary Fund
ISBN 13 : 1455218928
Total Pages : 46 pages
Book Rating : 4.4/5 (552 download)
Download or read book Bank Ownership and the Effects of Financial Liberalization written by Mrs.Poonam Gupta and published by International Monetary Fund. This book was released on 2011-03-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do financial sector reforms necessarily result in expansion of credit to the private sector? How does bank ownership affect the availability of credit to the private sector? Empirical evidence is somewhat mixed on these issues. We use the Indian experience with liberalization of the financial sector to inform this debate. Using bank-level data from 1991-2007, we ask whether public and private banks deployed resources freed up by reduced state preemption to increase credit to the private sector. We find that even after liberalization, public banks allocated a larger share of their assets to government securities than did private banks. Crucially, we also find that public banks were more responsive in allocating relatively more resources to finance the fiscal deficit even during periods when state pre-emption (measured in terms of the requirement to hold government securities as a share of assets) formally declined. These findings suggest that in developing countries, where alternative channels of financing may be limited, government ownership of banks, combined with high fiscal deficits, may limit the gains from financial liberalization.
Author : Michael Maurice Loriaux
Publisher : Cornell University Press
ISBN 13 : 9780801482816
Total Pages : 254 pages
Book Rating : 4.4/5 (828 download)
Download or read book Capital Ungoverned written by Michael Maurice Loriaux and published by Cornell University Press. This book was released on 1997 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan, South Korea, Mexico, France, and Spain once exercised significant control over the allocation of credit, and used that control to facilitate economic adjustment and industrial development. In the 1980s all that changed. Why and how these states dismantled their activist credit policies is the subject of Capital Ungoverned. The volume brings together five specialists in the economics and politics of these various states to assess the internal and global changes that prompted them to adopt financial liberalization.Comparison reveals the distinctive political and institutional logic that guided liberalization in each country--from the role of a newly dominant capitalist class in Korea to the replacement of state financing by private financing and self-financing in Japan, from the maneuvers of the banking establishment in Spain to attempts to attract foreign capital in Mexico. At the same time, these cases clarify the importance of international factors, in particular the shifts that occurred in U.S. policy as it sought to respond to the effects of uneven growth in the world economy.
Author : K. L. Gupta
Publisher : Springer Science & Business Media
ISBN 13 : 9401153701
Total Pages : 283 pages
Book Rating : 4.4/5 (11 download)
Download or read book Experiences with Financial Liberalization written by K. L. Gupta and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experiences with Financial Liberalization provides a broad spectrum of policy experiences relating to financial liberalization around the globe since the 1960s. There is a sizable body of theoretical and aggregative empirical literature in this area, but there is little work documenting and analyzing the experiences of individual countries and/or sets of countries. This book is divided into four parts by geographical region - Africa, Asia and Latin America, Central and Eastern Europe, and the Middle East. Aggregative econometric studies cannot substitute for country-wide studies in allowing the researcher to draw lessons for the future, and this volume adds to this relatively small body of literature.
Author : Miranda S. Goeltom
Publisher : Institute of Southeast Asian
ISBN 13 : 9813016876
Total Pages : 109 pages
Book Rating : 4.8/5 (13 download)
Download or read book Indonesia's Financial Liberalization written by Miranda S. Goeltom and published by Institute of Southeast Asian. This book was released on 1995 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using 1981-99 panel data on Indonesian manufacturing establishments and a survey of 2000 top business in Indonesia, Indonesia's Financial Liberalization analyses the consequences of financial liberalization on investment and allocation of credit, noting differential effects depending on size of firms, organizational form, and other categorizations.Using rigorous econometric tools, the conclusion derived is that although financial liberalization has increased borrowing costs, particularly for smaller firms, it has widened access to finance. The move from administrative-based to market-based allocation of credit has increased credit flow to firms that are more efficient, and these firms consequently have a higher concentration of investment.
Author : Donald Ofoegbu
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659169946
Total Pages : 196 pages
Book Rating : 4.1/5 (699 download)
Download or read book Financial Liberalization Effect on Savings, Credit and Economic Growth written by Donald Ofoegbu and published by LAP Lambert Academic Publishing. This book was released on 2012-07 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shift from a directly regulated financial system, to a liberalized one; where prices are left to market mechanism, is attracting global adoption, given the gains obtainable from a capitalist-competitive market structure on one hand, and possible side effects on the another causing reversal effects and program withdrawals. This book presents an extensive appraisal of recent financial development research works, proffers an ideal measure of financial liberalization degree (which has been a hot debate in the field), sheds light on the gains and caution on the use of an Auto-Regressive Distributed Lag (ARDL-Bound Test)Model, and test the potency of McKinnon's Complementarity Hypothesis on a credit constrained economy like Nigeria. The book has the potency to stimulate the curiosity of readers and researcher into the gains or flaws of liberalizing or deregulating an economy or sector. It provide an ideal foundation to final year students and project researchers of economics and finance, as it serves as a guide in carrying out standard literary review and flow in research writin
Author : Christina Stahn
Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.:/5 (318 download)
Download or read book Financial Liberalization and Its Impact on Monetary Policy written by Christina Stahn and published by . This book was released on 2000 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of this study is to identify similarities and differences of monetary policy in Korea, Indonesia, Malaysia, Chile, Argentina, and Mexico following diverging financial liberalization strategies. The evolution of monetary transmission channels, targets and instruments is examined in connection with the timing and sequencing of financial reforms. Money demand functions are analyzed with respect to stability, causality, and structural breaks. It is shown that the gradual (Asian) liberalization strategy affected monetary policy in a different way than the big-bang (Latin American) approach. Constraints on monetary management are imposed by complex monetary transmission channels changing in view of financial sector crises, alterations in exchange rate regimes, and the increasing globalization of financial markets.
Author : Mr.Abdul Abiad
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451853636
Total Pages : 35 pages
Book Rating : 4.8/5 (536 download)
Download or read book The Quality Effect written by Mr.Abdul Abiad and published by INTERNATIONAL MONETARY FUND. This book was released on 2004-06-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study documents evidence of a "quality effect" of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin's Q across firms. Based on a simple model, the authors predict that financial liberalization, by equalizing access to credit, reduces the variation in expected marginal returns. They test this prediction using a new financial liberalization index and firm-level data for five emerging markets: India, Jordan, Korea, Malaysia, and Thailand. They find strong evidence that financial liberalization, rather than financial deepening, improves allocative efficiency.
Author : Gerard Caprio
Publisher : Cambridge University Press
ISBN 13 : 0521803691
Total Pages : 320 pages
Book Rating : 4.5/5 (218 download)
Download or read book Financial Liberalization written by Gerard Caprio and published by Cambridge University Press. This book was released on 2001-10-08 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a rounded view of financial liberalization after the collapses in East Asia.
Author : Omer Mohammed
Publisher : GRIN Verlag
ISBN 13 : 3668546789
Total Pages : 177 pages
Book Rating : 4.6/5 (685 download)
Download or read book The Effect of Financial Liberalization on Economic Development in Ethiopia written by Omer Mohammed and published by GRIN Verlag. This book was released on 2017-10-11 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2016 in the subject Economics - Finance, grade: 2, Addis Ababa University (College of Bussiness and Economics), course: Accounting and Finance, language: English, abstract: This study aims to empirically examine the impact of financial liberalization on economic development in Ethiopia over the period of 1984-2014. In doing so, the ARDL approach to Co-integration and Error Correction Model were employed to investigate the long run and short run relationships. Accordingly, the empirical results obtained from the study indicate that financial widening has contributed significantly to the increase in saving and the level of economic growth. Even though, the total deposit happens to generate more investment; there is shortage of supply of credit. In addition, the study indicates financial widening and credit to the private sector exhibited a significant positive association with financial development while total banks credit bearing a significant impact on industrial development. However, the overall financial reform showed insignificant association both with economic growth and industrial development. The efficiency in allocating financial resources show significant positive association with share of banks credit to the private sector, however, the overall financial reform has positive insignificant impact on efficiency of resource allocation. The contribution of financial sector after the deregulation has a mixed result on welfare. In terms of catalyzing employment opportunity, financial widening and the overall liberalization policy measure have played a positive role while the financial development has no significant impact on employment creation. Financial widening has significant positive impact on poverty alleviation while the overall policy measure has insignificant impact on the impoverished. Consequently, the result of the study indicate the overall financial liberalization measure actually decrease the likelihood of financial instability and indicates the direction of causality going from economic growth to financial development proving the demand leading hypothesis, which in turn portrays the heavy involvement of government in the financial sector.
Author : Prema-chandra Athukorala
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)
Download or read book The Domestic Financial Market and the Trade Liberalization Outcome written by Prema-chandra Athukorala and published by World Bank Publications. This book was released on 1991 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main finding of the study is the domestic financial market plays a very significant role in the success or failure of trade liberalization. This was found to be the case in Sri Lanka during 1977-87.
Author : Abdul G. Abiad
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Quality Effect written by Abdul G. Abiad and published by . This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study documents evidence of a quot;quality effectquot; of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin`s Q across firms. Based on a simple model, the authors predict that financial liberalization, by equalizing access to credit, reduces the variation in expected marginal returns. They test this prediction using a new financial liberalization index and firm-level data for five emerging markets: India, Jordan, Korea, Malaysia, and Thailand. They find strong evidence that financial liberalization, rather than financial deepening, improves allocative efficiency.
