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Too Cold, Too Hot, or Just Right? Assessing Financial Sector Development Across the Globe
Barajas, Adolfo; Beck, Thorsten; Dabla-Norris, Era; … - International Monetary Fund (IMF) - 2013
This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and...
Persistent link: https://www.econbiz.de/10010790428
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Searching for the Finance-Growth Nexus in Libya
Cevik, Serhan; Rahmati, Mohammad - International Monetary Fund (IMF) - 2013
This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970–2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial...
Persistent link: https://www.econbiz.de/10010790327
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The Finance and Growth Nexus Re-Examined; Do All Countries Benefit Equally?
Barajas, Adolfo; Chami, Ralph; Yousefi, Reza - International Monetary Fund (IMF) - 2013
A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich dataset...
Persistent link: https://www.econbiz.de/10011242300
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The Impact of the Global Crisison South-Eastern Europe
Spadafora, Francesco; Cocozza, Emidio; Colabella, Andrea - International Monetary Fund (IMF) - 2011
This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible...
Persistent link: https://www.econbiz.de/10009401192
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Banks As Coordinators of Economic Growth
Ueda, Kenichi - International Monetary Fund (IMF) - 2006
This paper formally identifies an important role of banks: Banks competitively internalize production externalities and … facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks …. Banks compete for deposits to seek monopoly profits, including externalities. Using loan contracts that specify price and …
Persistent link: https://www.econbiz.de/10005605189
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Too Much Finance?
Berkes, Enrico; Panizza, Ugo; Arcand, Jean-Louis - International Monetary Fund (IMF) - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10010790393
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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
International Monetary Fund (IMF); International … - 2012
in general, better capitalized and less leveraged banks have outperformed their peers, a finding that supports …
Persistent link: https://www.econbiz.de/10011142021
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Financial Inclusion, Growth and Inequality: A Model Application to Colombia
Karpowicz, Izabela - International Monetary Fund (IMF) - 2014
Financial inclusion has been one of the key pillars of Colombia’s development strategy for a number of years. Financial inclusion policies have aimed at channeling microcredit to poor, spreading formal banking system usage, fostering electronic payment acceptance, and making financial...
Persistent link: https://www.econbiz.de/10011142110
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Is China Over-Investing and Does it Matter?
Lee, Il Houng; Syed, Murtaza H.; Xueyan, Liu - International Monetary Fund (IMF) - 2012
Now close to 50 percent of GDP, this paper assesses the appropriateness of China’s current investment levels. It finds that China’s capital-to-output ratio is within the range of other emerging markets, but its economic growth rates stand out, partly due to a surge in investment...
Persistent link: https://www.econbiz.de/10011142176
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The Eurozone Crisis; How Banks and Sovereigns Came to Be Joined At the Hip
Sandri, Damiano; Mody, Ashoka - International Monetary Fund (IMF) - 2011
We use the rise and dispersion of sovereign spreads to tell the story of the emergence and escalation of financial tensions within the eurozone. This process evolved through three stages. Following the onset of the Subprime crisis in July 2007, spreads rose but mainly due to common global...
Persistent link: https://www.econbiz.de/10009370546