LEADER 05397oam 22011054 450 001 9910817523503321 005 20240402050820.0 010 $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(IMF)WPIEE2008265 035 $a(MiAaPQ)EBC1608099 035 $a(EXLCZ)993170000000055162 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDo Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset /$fThierry Tressel, Enrica Detragiache 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 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 3 $aThis paper studies whether the policies that, over the past decades, liberalized bankingsystems around the world have resulted in deeper credit markets. To measure banking sectorreforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find that reforms have led to financial deepening, but only in countrieswith institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions thatprotect property rights. Other country characteristics do not seem to significantly influencethe effect of banking reforms on financial development. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/265 606 $aFinance$xEconometric models 606 $aEconomic development$xEconometric models 606 $aBanks and banking$xEconometric models 606 $aRight of property$xEconometric models 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aBanking$2imf 606 $aFinance$2imf 606 $aMonetary economics$2imf 606 $aFinancial sector development$2imf 606 $aCredit$2imf 606 $aCommercial banks$2imf 606 $aBank credit$2imf 606 $aBanks and banking$2imf 606 $aFinancial services industry$2imf 607 $aKyrgyz Republic$2imf 615 0$aFinance$xEconometric models. 615 0$aEconomic development$xEconometric models. 615 0$aBanks and banking$xEconometric models. 615 0$aRight of property$xEconometric models. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancial Markets and the Macroeconomy 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aBanking 615 7$aFinance 615 7$aMonetary economics 615 7$aFinancial sector development 615 7$aCredit 615 7$aCommercial banks 615 7$aBank credit 615 7$aBanks and banking 615 7$aFinancial services industry 676 $a338.9 700 $aTressel$b Thierry$01621895 701 $aDetragiache$b Enrica$0120810 801 0$bDcWaIMF 906 $aBOOK 912 $a9910817523503321 996 $aDo Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset$94106040 997 $aUNINA