Open AccessPosted Content
A New Database on Financial Development and Structure
Reads0
Chats0
TLDR
Beck, Demirguc-Kunt, and Levine as mentioned in this paper introduced a new database of indicators of financial development and structure across countries and over time, which unifies a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.Abstract:
This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. Beck, Demirguc-Kunt, and Levine introduce a new database of indicators of financial development and structure across countries and over time. This database is unique in that it unites a variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. It improves on previous efforts by presenting data on the public share of commercial banks, by introducing indicators of the size and activity of nonbank financial institutions, and by presenting measures of the size of bond and primary equity markets. The compiled data permit the construction of financial structure indicators to measure whether, for example, a country's banks are larger, more active, and more efficient than its stock markets. These indicators can then be used to investigate the empirical link between the legal, regulatory, and policy environment and indicators of financial structure. They can also be used to analyze the implications of financial structure for economic growth. Beck, Demirguc-Kunt, and Levine describe the sources and construction of, and the intuition behind, different indicators and present descriptive statistics. This paper - a product of Finance, Development Research Group - is part of a broader effort in the group to understand the determinants of financial structure and its importance to economic development. The authors may be contacted at tbeck@worldbank.org, ademirguckunt@worldbank.org, or rlevine@csom.umn.edu.read more
Citations
More filters
Journal ArticleDOI
Housing Financialization in the Global South: In Search of a Comparative Framework
TL;DR: The financialization of housing in the Global South (GS) and peripheries of the Global North (GN) develops in different ways than in the GN because the mechanisms underlying and pushing financialization are different.
BookDOI
Beyond legal origin and checks and balances : political credibility, citizen information, and financial sector development
TL;DR: In this article, the authors argue that government actions that promote financial sector development, whether prudent financial regulation or secure property and contract rights, are public goods and sensitive to political incentives to provide public goods.
Journal ArticleDOI
The Impact of the Financial System's Structure on Firms' Financial Constraints
Christopher F. Baum,Christopher F. Baum,Dorothea Schäfer,Dorothea Schäfer,Oleksandr Talavera +4 more
TL;DR: In this article, the authors estimate firms' cash flow sensitivity of cash to empirically test how the financial system's structure and level of development influence their financial constraints, and they find that both the structure of financial system and its level of developing matter.
Posted Content
Bank Heterogeneity and Monetary Policy Transmission
TL;DR: In this paper, the role of bank liquidity, capitalization and market power as internal factors influencing banks' reaction in terms of lending and risk-taking to monetary policy impulses is examined.
Posted Content
The quality of public finances and economic growth
TL;DR: In this paper, a multi-dimensional approach on the quality of public finances (QPF) and its relationship with economic growth is presented, including a growth-accounting approach using discriminant analysis.
References
More filters
Journal ArticleDOI
Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.
ReportDOI
Financial Dependence and Growth
Raghuram G. Rajan,Raghuram G. Rajan,Raghuram G. Rajan,Luigi Zingales,Luigi Zingales,Luigi Zingales +5 more
TL;DR: This paper examined whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship; that financial development reduces the costs of external finance to firms, and found that industrial sectors that are relatively more in need of foreign finance develop disproportionately faster in countries with more developed financial markets.
BookDOI
Financial development and economic growth : views and agenda
Ross Levine,Ross Levine +1 more
TL;DR: The authors argued that the preponderance of theoretical reasoning and empirical evidence suggests a positive first-order relationship between financial development and economic growth, and that financial development level is a good predictor of future rates of economic growth.
Posted Content
Financial Intermediation and Growth: Causality and Causes
TL;DR: In this article, the authors evaluate whether the level of development of financial intermediaries exerts a casual influence on economic growth, and they find that financial intermediary development has a large causal impact on growth.
Journal ArticleDOI
Finance, entrepreneurship and growth
TL;DR: The authors construct an endogenous growth model in which financial systems evaluate prospective entrepreneurs, mobilize savings to finance the most promising productivity-enhancing activities, diversify the risks associated with these innovative activities and reveal the expected profits from engaging in innovation rather than the production of existing goods using existing methods.