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development were specified. Those were the ratio of broad money (M2) to Gross Domestic Product (GDP), the ratio of total bank …
Persistent link: https://www.econbiz.de/10009779135
for financing composition in terms of the sources (bank credit, debt securities, stock market) and the recipients of …) The non-linear impact of total bank credit is more pronounced than that of either household credit alone, or the sum of … bank credit, debt securities, and stock market financing. (2) Credit to non-financial corporations tends to have a positive …
Persistent link: https://www.econbiz.de/10012054612
This paper features a meta-analysis of the effects of financial development and liberalization on macroeconomic growth in Asia. A meta-synthesis of 748 estimates extracted from 75 previous studies indicates that the growthenhancing effect of finance reaches an economically meaningful scale in...
Persistent link: https://www.econbiz.de/10014333426
In this paper, we analyze the growth effects of historical and biological ancestry, diversity and financial development in transition economies. We show that the common indicators of ethnolinguistic fractionalization, state history and genetic distance yield significant results and to some...
Persistent link: https://www.econbiz.de/10011596107
will reap more benefits from bank-based financial systems. The impact of financial development on economic performance has …
Persistent link: https://www.econbiz.de/10014426285
From 2000-2006 U.S. house prices and mortgage credit grew while the relative cost of mortgage credit fell - particularly for privately securitized mortgages - suggesting a credit supply expansion. This paper explores two (credit supply) shocks: an increased inow of global savings into the United...
Persistent link: https://www.econbiz.de/10012548230
This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. A significant relationship is found between financial...
Persistent link: https://www.econbiz.de/10003849379
This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...
Persistent link: https://www.econbiz.de/10003889597
, both in the industrial sector and in GDP as a whole. The basis of the financial system, measured as commercial bank assets …
Persistent link: https://www.econbiz.de/10003408330
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10008907303