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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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Tressel, Thierry (Autor), Detragiache, Enrica (Autor)
Autores Corporativos: International Monetary Fund. Research Department, IMF Institute
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, ©2008.
Colección:IMF working paper ; WP/08/265.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Tressel, Thierry,  |e author. 
245 1 0 |a Do financial sector reforms lead to financial development? :  |b evidence from a new dataset /  |c prepared by Thierry Tressel and Enrica Detragiache. 
260 |a Washington, D.C. :  |b International Monetary Fund,  |c ©2008. 
300 |a 1 online resource (42 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
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500 |a At head of title: Research Department and IMF Institute. 
500 |a "December 2008." 
504 |a Includes bibliographical references (pages 22-25). 
520 |a 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. 
588 0 |a Print version record. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2011.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2011  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a 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 
505 8 |a 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 
546 |a English. 
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 0 |a Banks and banking  |x Econometric models. 
650 0 |a Right of property  |x Econometric models. 
650 6 |a Développement économique  |x Modèles économétriques. 
650 6 |a Finances  |x Modèles économétriques. 
650 6 |a Droit de propriété  |x Modèles économétriques. 
650 7 |a Banks and banking  |x Econometric models  |2 fast 
650 7 |a Economic development  |x Econometric models  |2 fast 
650 7 |a Finance  |x Econometric models  |2 fast 
650 7 |a Right of property  |x Econometric models  |2 fast 
650 7 |a Finanzsektor.  |2 stw 
650 7 |a Kapitalmarktliberalisierung.  |2 stw 
650 7 |a Welt.  |2 stw 
700 1 |a Detragiache, Enrica,  |e author. 
710 2 |a International Monetary Fund.  |b Research Department. 
710 2 |a IMF Institute. 
758 |i has work:  |a Do financial sector reforms lead to financial development? (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCH7mhv4dVfD8cBtf4dPKMP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Tressel, Thierry.  |t Do financial sector reforms lead to financial development?.  |d Washington, D.C. : International Monetary Fund, ©2008  |w (OCoLC)317047346 
830 0 |a IMF working paper ;  |v WP/08/265. 
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