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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
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Dollarization and financial development
Bannister, Geoffrey J.; Gardberg, Malin; Turunen, Jarkko - 2018
Despite significant strides in financial development over the past decades, financial dollarization, as reflected in elevated shares of foreign currency deposits and credit in the banking system, remains common in developing economies. We study the impact of financial dollarization,...
Persistent link: https://www.econbiz.de/10011932543
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Macrofinancial linkages and growth at risk in the Dominican Republic
Bespalova, Olga; Rousset, Marina - 2019
This paper uses the Growth-at-Risk (GaR) methodology to examine how macrofinancial conditions affect the growth outlook and its probability distribution. Using this approach, we evaluate risks to GDP growth in the Dominican Republic using quarterly data for 1996-2018. We group macrofinancial...
Persistent link: https://www.econbiz.de/10012154738
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Financial Deepening, Inequality, and Growth : A Model-Based Quantitative Evaluation
Townsend, Robert M. - 2003
We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...
Persistent link: https://www.econbiz.de/10014400139
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Understanding the Growth of African Financial Markets
Andrianaivo, Mihasonirina - 2009
This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, financial repression, and political risk are the main determinants of banking sector...
Persistent link: https://www.econbiz.de/10014402464
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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
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Remittances, Financial Development, and Growth
Ruiz-Arranz, Marta - 2005
There has been little systematic empirical study on the relationship between remittances and growth. This paper attempts to examine this relationship. Using a newly constructed crosscountry of data series for remittances covering a large sample of developing countries, we relate the interaction...
Persistent link: https://www.econbiz.de/10014401504
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An Empirical Reassessment of the Relationship Between Finance and Growth
Favarra, Giovanni - 2003
private sector by banks and other financial institutions. The paper identifies two sets of findings. First, in contrast with …
Persistent link: https://www.econbiz.de/10014399535
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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
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Fiscal Revenue, Inflationary Finance and Growth
Choudhry, Nurun N. - 1992
This paper analyzes the optimal rate of monetary expansion when government resorts to inflationary finance to generate additional investment for enhancing growth. If there are lags in tax collection, an increase in inflation erodes real fiscal revenue, thereby worsening the current balance while...
Persistent link: https://www.econbiz.de/10014396286