Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset / / Thierry Tressel, Enrica Detragiache
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| Autore: |
Tressel Thierry
|
| Titolo: |
Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset / / Thierry Tressel, Enrica Detragiache
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2008 |
| Descrizione fisica: | 1 online resource (44 p.) |
| Disciplina: | 338.9 |
| Soggetto topico: | Finance - Econometric models |
| Economic development - Econometric models | |
| Banks and banking - Econometric models | |
| Right of property - Econometric models | |
| Banks and Banking | |
| Finance: General | |
| Money and Monetary Policy | |
| Banks | |
| Depository Institutions | |
| Micro Finance Institutions | |
| Mortgages | |
| Financial Markets and the Macroeconomy | |
| Monetary Policy, Central Banking, and the Supply of Money and Credit: General | |
| Banking | |
| Finance | |
| Monetary economics | |
| Financial sector development | |
| Credit | |
| Commercial banks | |
| Bank credit | |
| Banks and banking | |
| Financial services industry | |
| Soggetto geografico: | Kyrgyz Republic |
| Altri autori: |
DetragiacheEnrica
|
| Note generali: | Description based upon print version of record. |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | 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 Regressions |
| 8. 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 | |
| Sommario/riassunto: | This 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. |
| Titolo autorizzato: | Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset |
| ISBN: | 1-4623-7596-0 |
| 1-4527-2082-7 | |
| 9786612842160 | |
| 1-4518-7123-6 | |
| 1-282-84216-1 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910788341003321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2008/265