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Financial Development and Economic Growth : An Overview

Khan, Mohsin S. - 2000

In recent years there has been substantial theoretical and empirical work on the role that financial markets play in fostering economic growth and development. This paper provides a selective review of the literature, as well as new empirical evidence on the relationship between financial...

Persistent link: https://www.econbiz.de/10014403474

Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?

Allard, Julien - 2011

Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies … and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in … particular the more bank-based economies of continental Europe). Further, stronger recoveries also tend to be associated with …

Persistent link: https://www.econbiz.de/10014398329

Should Banks Be Narrowed?

Bossone, Biaggio - 2001

the real economy. The study also runs an empirical exercise to estimate the costs of bank narrowness and draws policy …

Persistent link: https://www.econbiz.de/10014403522

Linkages Between Financial Variables, Financial Sector Reform and Economic Growth and Efficiency

Johnston, R. B. - 1995

This paper analyzes the different channels through which financial variables and financial sector reform can affect economic growth and efficiency, using panel data for 40 countries which reformed their financial systems. Financial sector reform is hypothesized to affect economic growth and...

Persistent link: https://www.econbiz.de/10014395836

Financial Development and Economic Growth

Guidotti, Pablo Emilio - 1992

by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and …

Persistent link: https://www.econbiz.de/10014397886

The non-U.S. bank demand for U.S. dollar assets

Adrian, Tobias; Xie, Peichu - 2020

The USD asset share of non-U.S. banks captures the demand for dollars by these investors. An instrumental variable strategy identifies a causal link from the USD asset share to the USD exchange rate. Cross-sectional asset pricing tests show that the USD asset share is a highly significant...

Persistent link: https://www.econbiz.de/10012252026

Shedding light on shadow banking

Harutyunyan, Artak; Massara, Alexander; Ugazio, Giovanni; … - 2015

noncore liabilities concept developed in recent literature to encompass all noncore liabilities of both bank and nonbank …

Persistent link: https://www.econbiz.de/10010479339

Financial Development, Financial Fragility, and Growth

Loayza, Norman - 2005

This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit...

Persistent link: https://www.econbiz.de/10014404211

Managing the impact of resource booms on the real effective exchange rate : the role of financial sector development

Herderschee, Han; Li, Ran; Ouedraogo, Abdoulaye; … - 2021

Whereas most of the literature related to the so-called 'resource curse' tends to emphasize on institutional factors and public policies, in this research we focus on the role of the financial sector, which has been surprisingly overlooked. We find that countries that have financial systems with...

Persistent link: https://www.econbiz.de/10012518905

Financial Markets and Inflation Under Imperfect Information

De Gregorio, Jose - 1994

This paper studies the effect of inflation on the operation of financial markets, and shows how the ability of financial intermediaries to distinguish among heterogenous firms is reduced as inflation rises. This point is illustrated by presenting a simple model where inflation affects firms’...

Persistent link: https://www.econbiz.de/10014397999

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