Download or read book Stock Markets Banks and Economic Growth written by Hafiz A. Akhand and published by World Bank Publications. This book was released on 1999 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock markets, banks and economic growth: a reasonable extreme bounds analysis (Discussion paper, 99/4)
Download or read book Stock Markets Banks and Growth written by Thorsten Beck and published by World Bank Publications. This book was released on 2001 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of a panel data set for 1976-98 shows that on balance stock markets and banks positively influence economic growth; findings that do not result from biases induced by simultaneity, omitted variables, or unobserved country-specific effects.
Download or read book stock market development and long run growth written by Ross Levine and published by World Bank Publications. This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Structure and Economic Growth written by Aslı Demirgüç-Kunt and published by MIT Press. This book was released on 2001 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: CD-ROM contains: World Bank data.
Download or read book Stock Markets Banks and Growth Correlation Or Causality written by Ross Levine and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 2001 Analysis of a panel data set for 1976-98 shows that on balance stock markets and banks positively influence economic growth--findings that do not result from biases induced by simultaneity, omitted variables, or unobserved country-specific effects. Beck and Levine investigate the impact of stock markets and banks on economic growth using a panel data set for 1976-98 and applying recent generalized method of moments (GMM) techniques developed for dynamic panels. The authors illustrate econometrically the differences that emerge from different panel procedures. On balance, stock markets and banks positively influence economic growth--and these findings are not a result of biases induced by simultaneity, omitted variables, or unobserved country-specific effects. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand the links between the financial system and economic growth. The authors may be contacted at [email protected] or [email protected].
Download or read book Stock Markets Speculative Bubbles and Economic Growth written by Mathias Binswanger and published by Edward Elgar Publishing. This book was released on 1999 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining the role of speculative bubbles in the stock market, this text argues that, provided they are sustainable, bubbles may have a positive effect on the market. They may provide additional investment opportunities with the potential to increase aggregate profits and improve economic welfare.
Download or read book Stock Markets Banks and Economic Growth written by Ross Levine and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do well-functioning stock markets and banks promote long-term economic growth? Yes, but stock markets and banks differ in the financial services they provide. Using data on 49 countries from 1976 to 1993, the authors investigate whether measures of stock market liquidity, size, volatility, and integration in world capital markets predict future rates of economic growth, capital accumulation, productivity improvements, and private savings. They find that stock market liquidity-as measured by stock trading relative to the size of the market and economy - is positively and significantly correlated with current and future rates of economic growth, capital accumulation, productivity growth, even after controlling for economic and political factors. Stock market size, volatility, and integration are not robustly linked with growth. Nor are financial indicators closely associated with private savings rates. Significantly, banking development - as measured by bank loans to private enterprises divided by GDP - when combined with stock market liquidity predicts future rates of growth, capital accumulation, and productivity growth when entered together in regressions. The authors determine that these results are consistent with views that (1)financial markets and institutions provide important services for long-run growth, and (2)stock markets and banks provide different financial services. This paper - a product of the Finance and Private Sector Development Division, Policy Research Department - is part of a larger effort in the department to understand the links between the financial system and economic growth. The study was funded by the Bank's Research Support Budget under the research project "Stock Market Development and Financial Intermediary Growth" (RPO 679-53).
Download or read book Financial Development and Economic Growth written by C. Goodhart and published by Springer. This book was released on 2004-06-13 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.
Download or read book Stock Market Development and Long Run Growth written by Ross Levine and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: March 1996 Is there a strong empirical association between stock market development and long-term economic growth? Cross-country regressions suggest that there is a positive and robust association. Levine and Zervos empirically evaluate the relationship between stock market development and long-term growth. The data suggest that stock market development is positively associated with economic growth. Moreover, instrumental variables procedures indicate a strong connection between the predetermined component of stock market development and economic growth in the long run. While cross-country regressions imply a strong link between stock market development and economic growth, the results should be viewed as suggestive partial correlations that stimulate additional research rather than as conclusive findings. Much work remains to be done to shed light on the relationship between stock market development and economic growth. Careful case studies might help identify causal relationships and further research could be done on the time-series property of such relationships. Research should also be done to identify policies that facilitate the development of sound securities markets. This paper -- a product of the Finance and Private Sector Development Division, Policy Research Department -- is part of a larger effort in the department to study the relationship between financial systems and economic growth. The study was funded by the Bank's Research Support Budget under the research project Stock Market Development and Financial Intermediary Growth2 (RPO 679-53).
Download or read book Financial Development and Economic Growth written by Ross Levine and published by World Bank Publications. This book was released on with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF) presents the full text of the December 2000 paper entitled "Financial Development and Economic Growth: An Overview," prepared by Mohsin S. Khan and Abdelhak S. Senhadji. The text is available in PDF format and the paper is part of the IMF's Working Paper series. This paper provides a review of literature on financial markets and discusses the relationship between financial development and economic growth.
Download or read book Stock Market Development and Firm Financing Choices written by Aslı Demirgüç-Kunt and published by World Bank Publications. This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Creating an Efficient Financial System written by Thorsten Beck and published by World Bank Publications. This book was released on 2006 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.
Download or read book Domestic Resource Mobilization and Financial Development written by G. Mavrotas and published by Springer. This book was released on 2008-03-27 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insights into the evolving debate regarding the mobilization of domestic resources and the crucial role that financial development can and should play in this regard, exploring aspects of the financial development–domestic resource mobilization nexus, including country case studies.
Download or read book Stock Market Development and Long Run Growth written by Sara Zervos and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is there a strong empirical association between stock market development and long-term economic growth? Cross-country regressions suggest that there is a positive and robust association.Levine and Zervos empirically evaluate the relationship between stock market development and long-term growth. The data suggest that stock market development is positively associated with economic growth. Moreover, instrumental variables procedures indicate a strong connection between the predetermined component of stock market development and economic growth in the long run.While cross-country regressions imply a strong link between stock market development and economic growth, the results should be viewed as suggestive partial correlations that stimulate additional research rather than as conclusive findings. Much work remains to be done to shed light on the relationship between stock market development and economic growth. Careful case studies might help identify causal relationships and further research could be done on the time-series property of such relationships.Research should also be done to identify policies that facilitate the development of sound securities markets.This paper - a product of the Finance and Private Sector Development Division, Policy Research Department - is part of a larger effort in the department to study the relationship between financial systems and economic growth. The study was funded by the Bank's Research Support Budget under the research project Stock Market Development and Financial Intermediary Growth (RPO 679-53).
Download or read book A New Database on Financial Development and Structure written by Thorsten Beck and published by World Bank Publications. This book was released on 1999 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.
Download or read book Stock Market Development and Long run Growth written by Ross Levine and published by . This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s Emerging Financial Markets written by James R. Barth and published by Springer Science & Business Media. This book was released on 2009-12-02 with total page 661 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s emerging financial markets reflect the usual contrast between the country’s measured approach toward policy, regulatory, and market reform, and the dynamic pace of rapid economic growth and development. But they also offer unusual challenges and opportunities. In the past five years, the pace of opening and reform has accelerated sharply. Recapitalization and partial privatization of the largest banks, and the allowance of some joint venture and branch operations for foreign financial institutions, are making rapid headway in developing and expanding financial services and improving access to domestic business and households. This book provides the most extensive look available at the evolving Chinese financial system. It begins with alternative perspectives on the evolution of the financial system and the broad outlines of its prospects and potential contribution to economic growth. Three articles review broad aspects of the financial system. Franklin Allen, Jun ‘‘QJ’’ Qian, Meijun Qian, and Mengxin Zhao lead off with overviews of the banking system and performance of the equity market and other institutions.
