03829nam 2200685 450 991046425170332120170821160650.01-4623-7596-01-4527-2082-797866128421601-4518-7123-61-282-84216-1(CKB)3170000000055162(EBL)1608099(SSID)ssj0000944015(PQKBManifestationID)11944103(PQKBTitleCode)TC0000944015(PQKBWorkID)10982810(PQKB)10129339(OCoLC)761874253(MiAaPQ)EBC1608099(EXLCZ)99317000000005516220140226h20082008 uy 0engur|n|---|||||txtccrDo financial sector reforms lead to financial development? evidence from a new dataset /Thierry Tressel and Enrica Detragiache[Washington, District of Columbia] :International Monetary Fund,2008.©20081 online resource (44 p.)IMF Working PapersIMF working paper ;WP/08/265Description based upon print version of record.1-4519-1576-4 Includes bibliographical references.Contents; I. Introduction; II. The Empirical Model; III. The Data; IV. Estimation Results; V. Conclusions; References; Tables; 1. Sample Countries; 2. Summary Statistics; 3. Cross-Correlations; 4. Baseline Regression: Two Alternative Maximum Lags; 5A. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Shocks, Policies, Non-Linearities; 5B. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Institutions; 6. Regressions Countries with Good Property Rights; 7. GMM Regressions8. Regressions with 5 Year Periods Panels9. Impact of Specific Banking Sector Reforms on Financial Depth; Figures; 1. Financial Reforms by Regions; 2. Private Credit to GDP Around Episodes of Banking Reform; 3. Financial Depth and Banking Reform Index-evolution of cross-sectional dispersion; 4. Financial Depth and Banking Reform Index-correlation over time; 5. Estimated Effect of Banking Reforms on the Private Credit to GDP Ratio; Data Appendix; Appendix; Empirical SpecificationThis paper studies whether the policies that, over the past decades, liberalized bankingsystems around the world have resulted in deeper credit markets. To measure banking sectorreforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find that reforms have led to financial deepening, but only in countrieswith institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions thatprotect property rights. Other country characteristics IMF Working PapersFinanceEconometric modelsEconomic developmentEconometric modelsBanks and bankingEconometric modelsRight of propertyEconometric modelsElectronic books.FinanceEconometric models.Economic developmentEconometric models.Banks and bankingEconometric models.Right of propertyEconometric models.338.9Tressel Thierry867897Detragiache Enrica120810MiAaPQMiAaPQMiAaPQBOOK9910464251703321Do financial sector reforms lead to financial development1937338UNINA