Download or read book Banks Financial Development and Regional Growth written by Saovanee Chantapong and published by Peter Lang Publishing. This book was released on 2006 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work deals with finance and banking and the linkage between finance and economic growth in Thailand. Notwithstanding a strong reserve position and macroeconomic performance between mid-1980s and mid-1990s, the Thai economy in 1997 suffered the worst twin crisis in its history. This raises many related questions. What made the favourable performance disappear within a few years? What can we do to prevent financial crises in the future? Did the expanded participation of foreign banks in the Thai banking industry after the crisis lead to efficiency gains? And more generally, are there long-run effects of financial development on real economic growth? This work is intended to answer these questions. The main finding is that the growth rates of regional real incomes in Thailand during 1981 and 2003 are significantly negatively related to the initial level of regional real incomes as expected from unconditional convergence in growth theory. Based on the concept of conditional convergence, the results show that there is a divergence of regional real incomes in Thailand during 1994 and 2003, i.e. after controlling the differences in financial development, the richer ones grew faster. Based on the Granger causality test results, there is a bi-directional causality between finance and growth. Although this work is based on the case of Thailand, international evidence and comparisons are also included.

Download or read book Financial Development and Growth in the Middle East and North Africa written by Ms.Susan Creane and published by International Monetary Fund. This book was released on 2003-09-05 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, the authors assess financial sector development in the MENA regionand propose several policy measures, which include reinforcing the institutional environment and promoting nonbank financial sector development, to enhance this sector’s performance.

Download or read book Finance Financial Sector Policies and Long run Growth written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2008 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Download or read book The Quality of Banking and Regional Growth written by Iftekhar Hasan and published by . This book was released on 2016 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: We test whether output growth in European economic agglomeration regions depends on financial development. To this end we suggest a relative measure of the quality of financial institutions rather than the usual quantity proxy of financial development. In order to measure the quality of financial development we use profit efficiency derived from stochastic frontier analysis. We show that more efficient banks spur regional growth while the typically used quantity measure of financial development is negligible. Also, our results suggest an additional channel through which better banking can spur growth: the interaction of more credit with efficient banks.

Download or read book Advancing Financial Development in Latin America and the Caribbean written by Dyna Heng and published by International Monetary Fund. This book was released on 2016-04-12 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.

Download or read book Financing Regional Growth and the Inter American Development Bank written by Ernesto Vivares and published by Routledge. This book was released on 2013-05-02 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: The crisis of the current global financial order is challenging us to critically reflect on how this order has been driven, and the development outcomes produced by its central political and economic actors. There is a great deal of academic knowledge about the role of the international financial institutions, powerful states and capital markets in international development, but there is little understanding of how regional dynamics and regional institutions influence global governance and developing countries. This book offers an independent and grounded investigation concerning the political economic role of Regional Development Banks through a study of the world’s leading regional development bank, the Inter-American Development Bank (IDB). The book examines the political economy of the IDB and its role in regional and national development during the neoliberalisation processes of the 1990s. In particular, the investigations explore the IDB’s power in regional and national development – via its technical, political and financial interventions – to frame policy alternatives, absorb opposition forces, support specific coalition forces and justify a particular direction of development, all in order to legitimize specific political economic projects directed by market-led pro-reform coalitions aligned with global financial forces and financial development guidelines. This book will be relevant to scholars and professionals interested in the international and regional political economy of development financing.

Download or read book Financial Development in Sub Saharan Africa written by Mr.Montfort Mlachila and published by International Monetary Fund. This book was released on 2016-09-14 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.

Download or read book Handbook of Development Economics written by Dani Rodrick and published by Elsevier. This book was released on 2009-11-09 with total page 1066 pages. Available in PDF, EPUB and Kindle. Book excerpt: What guidance does academic research really provide to economic policy development? The critical and analytical surveys in this volume investigate links between policies and outcomes by surveying work from broad macroeconomic policies to interventions in microfinance. Asserting that there are no universal correspondences between policies and outcomes, contributors demonstrate instead that only an intense familiarity with the development context and the universe of applicable economic models can generate successful policies. Getting cause-and-effect right is essential for policy design and implementation. With the goal of drawing researchers and policy makers closer, this volume highlights our increasing understanding of ways to combine economic theorizing with careful, thoughtful empirical work. Presents an accurate, self-contained survey of the current state of the field Summarizes the most recent discussions, and elucidates new developments Although original material is also included, the main aim is the provision of comprehensive and accessible surveys

Download or read book Financial Development Integration and Stability written by Klaus Liebscher and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial industries in central, eastern and south-eastern Europe have undergone dramatic changes over the past decade. Foreign direct investment contributed to the development of market-oriented banking and financial systems able to support the rapid pace of economic growth in these countries. Policymakers, academics and private sector analysts have contributed to this volume with their stimulating insights on a broad range of issues, from recent credit booms to the cross-border integration of banking and capital markets. Anyone who wants to understand how finance, growth and financial stability interact in transition economies should read this book. Mario Draghi, Governor of the Banca d Italia and Chairman of the Financial Stability Forum This book highlights the achievements and challenges of the ongoing process of financial integration in Europe. The financial integration of Europe is both welcomed as an economic driving force and watched with concern as a source of potential stability. After all, changing financial, regulatory and corporate ownership structures are fuelling competition, capital mobility and financial intermediation, but at the same time creating new systemic risks. With a special focus on Central, Eastern and South-Eastern Europe, the contributors to this book explore a wide spectrum of underlying issues, including the finance-growth nexus, credit boom patterns, the implications of foreign bank entry modes, lessons learned from old EU member states and commercial bank strategies. Authoritative views from central bank officials and policymakers are complemented with a special focus on empirical and econometric evidence from academia as well as practical insights from key financial market players. This unique collection will be of great interest to economists and experts in the fields of financial markets and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes.

Download or read book Financial Markets and Regional Economic Development written by Sheila C. Dow and published by Aldershot, Hants., England ; Brookfield, Vt., USA : Avebury. This book was released on 1990 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rethinking Financial Deepening written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 2015-05-04 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation—not necessarily more regulation—thus leads to greater possibilities both for development and stability.

Download or read book Local Financial Development and Growth written by Jake Kendall and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: "Using a unique sample of net domestic product data for districts in India, I investigate the connection between banking sector development, human capital, and economic growth at the sub-national level. Using disaggregate data avoids many of the omitted variable problems that plague cross-country studies of the finance-growth connection and facilitates an instrumentation strategy. The findings show that the growth of many districts in India is financially constrained due to lack of banking sector development, and that the relationship between finance and growth may be non-linear. For the districts in the sample, moving from the 75th percentile of credit/net domestic product to the 25th percentile implies an average loss of 4 percent in growth over the 1990s. This indicates that the gains from increased banking sector outreach may be large. The analysis shows that human capital deepening can reduce the effect of the financial constraint and help decouple growth from financial development. In a district at the 25th literacy percentile, the implied growth loss due to a constrained banking sector is twice as large as in a district at the 75th literacy percentile. Thus, higher levels of human capital may activate alternative growth and production channels that are less finance intensive."--World Bank web site.

Download or read book Financial Sector Development in Africa written by Thorsten Beck and published by World Bank Publications. This book was released on 2012-11-27 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume contains eight studies of financial sector challenges in Africa that served as background studies for Financing Africa: Through the Crisis and Beyond. One of the major challenges for African financial systems is to expand financial services to a larger share of the population. The chapters in this area cover microfinance in Africa, the role of technology, reforms of payment infrastructure, and financing agriculture. Two chapters cover challenges in increasing long-term finance; one covers housing finance and the other the role of sovereign wealth fund. The book also contains a detailed discussion of bank regulation and supervision, especially in light of the current regulatory reforms in Europe and North America. The final chapter provides a political economy perspective, discussing the conditions for activist government policies in the financial sector.

Download or read book A History of Banking in Antebellum America written by Howard Bodenhorn and published by Cambridge University Press. This book was released on 2000-02-13 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Bodenhorn reveals how America was served by an efficient system of financial intermediaries by the mid-nineteenth century.

Download or read book The Finance and Growth Nexus Re Examined written by Mr.Adolfo Barajas and published by International Monetary Fund. This book was released on 2013-05-29 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich dataset for 150 countries for the period 1975–2005, dynamic panel estimation results suggest that the beneficial effect of financial deepening on economic growth in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions, such as the Middle East and North Africa (MENA); and in lower-income countries. Further analysis suggests that these differences might be driven by regulatory/supervisory characteristics and related to differences in the ability to provide widespread access to financial services.

Download or read book Finance Development March 2012 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2012-03-14 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young people, hardest hit by the global economic downturn, are speaking out and demanding change. F&D looks at the need to urgently address the challenges facing youth and create opportunities for them. Harvard professor David Bloom lays out the scope of the problem and emphasizes the importance of listening to young people in "Youth in the Balance." "Making the Grade" looks at how to teach today's young people what they need to get jobs. IMF Deputy Managing Director, Nemat Shafik shares her take on the social and economic consequences of youth unemployment in our "Straight Talk" column. "Scarred Generation" looks at the effects the global economic crisis had on young workers in advanced economies, and we hear directly from young people across the globe in "Voices of Youth." Renminbi's rise, financial system regulation, and boosting GDP by empowering women. Also in the magazine, we examine the rise of the Chinese currency, look at the role of the credit rating agencies, discuss how to boost the empowerment of women, and present our primer on macroprudential regulation, seen as increasingly important to financial stability. People in economics - C. Fred Bergsten, American Globalist. Back to basics - The multi-dimensional role of banks in our financial systems.