LEADER 03829nam 2200685 450 001 9910464251703321 005 20170821160650.0 010 $a1-4623-7596-0 010 $a1-4527-2082-7 010 $a9786612842160 010 $a1-4518-7123-6 010 $a1-282-84216-1 035 $a(CKB)3170000000055162 035 $a(EBL)1608099 035 $a(SSID)ssj0000944015 035 $a(PQKBManifestationID)11944103 035 $a(PQKBTitleCode)TC0000944015 035 $a(PQKBWorkID)10982810 035 $a(PQKB)10129339 035 $a(OCoLC)761874253 035 $a(MiAaPQ)EBC1608099 035 $a(EXLCZ)993170000000055162 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDo financial sector reforms lead to financial development? $eevidence from a new dataset /$fThierry Tressel and Enrica Detragiache 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (44 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/265 300 $aDescription based upon print version of record. 311 $a1-4519-1576-4 320 $aIncludes bibliographical references. 327 $aContents; 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 Regressions 327 $a8. 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 Specification 330 $aThis paper studies whether the policies that, over the past decades, liberalized bankingsystems around the world have resulted in deeper credit markets. To measure banking sectorreforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find that reforms have led to financial deepening, but only in countrieswith institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions thatprotect property rights. Other country characteristics 410 0$aIMF Working Papers 606 $aFinance$xEconometric models 606 $aEconomic development$xEconometric models 606 $aBanks and banking$xEconometric models 606 $aRight of property$xEconometric models 608 $aElectronic books. 615 0$aFinance$xEconometric models. 615 0$aEconomic development$xEconometric models. 615 0$aBanks and banking$xEconometric models. 615 0$aRight of property$xEconometric models. 676 $a338.9 700 $aTressel$b Thierry$0867897 701 $aDetragiache$b Enrica$0120810 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464251703321 996 $aDo financial sector reforms lead to financial development$91937338 997 $aUNINA