Introducing a new broad-based index of financial development /

There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth - the ratio of private credit to GDP or stock mark...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Svirydzenka, Katsiaryna (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C] : International Monetary Fund, Strategy, Policy, and Review Department, 2016.
Colección:IMF working paper ; WP/16/5.
Temas:
Economic indicators.
Financial institutions.
Capital market.
Economic development.
Indicateurs économiques.
Institutions financières.
Marché financier.
Développement économique.
economic development.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover
  • Contents
  • Abstract
  • I. Introduction
  • II. Methodology
  • A. Data sources
  • B. Treatment of missing data
  • C. Normalization and treatment of outliers
  • D. Functional form of the aggregator
  • E. Weights
  • F. Putting it all together
  • III. Landscape of Financial Development
  • IV. Caveats and Limitations
  • References
  • Figures
  • 1. Financial Development Index Pyramid
  • 2. Treatment of Missing Data: Example 1
  • 3. Treatment of Missing Data: Example 2
  • 4. Databank Composition: Raw, Reconstructed, and Missing Data Shares
  • 5. Linear Versus Geometric Aggregation: Hypothetical Example, Equal Weights
  • 6. Linear Versus Geometric Aggregation: 2013 FD Index Ratings
  • 7. Luxembourg Example: Index Ratings for 2013
  • 8. Principal Component Analysis: Normalized Weights
  • 9. World Map of Financial Development, 2013
  • 10. Correlation of FD Index with Traditional Measures: Private Credit to GDP
  • 11. Correlation of FD Index with Traditional Measures: Stock Market Capitalization/GDP
  • 12. Financial Development through Time
  • 13. Financial Development Index: Peer Group Averages
  • 14. Financial Development Index: Selected Countries, 2013
  • Tables
  • 1. Data Sources
  • 2. Summary Statistics of the Underlying Data
  • 3. Percent of Countries and Years with Data Availability
  • 4. Share of Variance Explained by PCA Components
  • 5. Summary Statistics of the Financial Development Index
  • Annexes
  • Annex 1. 2013 Country Rankings on Financial Development
  • Annex 2. 2013 Country Rankings on Financial Institutions Depth, Access, Efficiency
  • Annex 3. 2013 Country Rankings on Financial Markets Depth, Access, Efficiency.

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