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Do financial sector reforms lead to financial development? : evidence from a new dataset /
This paper studies whether the policies that, over the past decades, liberalized banking systems around the world have resulted in deeper credit markets. To measure banking sector reforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find tha...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
©2008.
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| Colección: | IMF working paper ;
WP/08/265. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper studies whether the policies that, over the past decades, liberalized banking systems around the world have resulted in deeper credit markets. To measure banking sector reforms 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 countries with institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions that protect property rights. Other country characteristics do not seem to significantly influencethe effect of banking reforms on financial development. |
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| Notas: | At head of title: Research Department and IMF Institute. "December 2008." |
| Descripción Física: | 1 online resource (42 pages) : illustrations |
| Bibliografía: | Includes bibliographical references (pages 22-25). |
| ISBN: | 1451915764 9781451915761 9781451871234 1451871236 1462375960 9781462375967 1452720827 9781452720821 9786612842160 6612842164 1282842161 9781282842168 |