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Does economic diversification lead to financial development? : evidence from topography /
An influential theoretical literature has observed that economic diversification can reduce risk and increase financial development. But causality operates in both directions, as a well functioning financial system can enable a society to invest in more productive but risky projects, thereby determi...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, Research Dept.,
2006.
|
| Colección: | IMF working paper ;
WP/06/35. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Ramcharan, Rodney, |e author. | |
| 245 | 1 | 0 | |a Does economic diversification lead to financial development? : |b evidence from topography / |c prepared by Rodney Ramcharan. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, Research Dept., |c 2006. | ||
| 300 | |a 1 online resource (43 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 490 | 1 | |a IMF working paper ; |v WP/06/35 | |
| 504 | |a Includes bibliographical references. | ||
| 520 | |a An influential theoretical literature has observed that economic diversification can reduce risk and increase financial development. But causality operates in both directions, as a well functioning financial system can enable a society to invest in more productive but risky projects, thereby determining the degree of economic diversification. Thus, ordinary least squares (OLS) estimates of the impact of economic diversification on financial development are likely to be biased. Motivated by the economic geography literature, this paper uses instruments derived from topographical characteristics to estimate the impact of economic diversification on the development of finance. The fourth estimates suggest a large and robust role for diversification in shaping financial development. And these results imply that, by impeding financial sector development, the concentration of economic activity common in developing countries can adversely affect financial and economic development. | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Contents -- I. INTRODUCTION -- II. EMPIRICAL FRAMEWORK AND DATA OVERVIEW -- III. MAIN RESULTS -- IV. SENSITIVITY ANALYSES -- V. DISCUSSION -- References | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Economic development |x Econometric models. | |
| 650 | 0 | |a Finance |x Econometric models. | |
| 650 | 6 | |a Développement économique |x Modèles économétriques. | |
| 650 | 6 | |a Finances |x Modèles économétriques. | |
| 650 | 7 | |a Economic development |x Econometric models |2 fast | |
| 650 | 7 | |a Finance |x Econometric models |2 fast | |
| 710 | 2 | |a International Monetary Fund. |b Research Department. | |
| 758 | |i has work: |a Does economic diversification lead to financial development? (Text) |1 https://id.oclc.org/worldcat/entity/E39PCH9g44VGmtpx3wBkcthwfm |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 830 | 0 | |a IMF working paper ; |v WP/06/35. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=3014357 |z Texto completo |
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