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Financial sector development

About: Financial sector development is a research topic. Over the lifetime, 1674 publications have been published within this topic receiving 90787 citations.


Papers
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Journal ArticleDOI
TL;DR: In this paper , the mediating role of financial development and economic growth in mediating the relationship between foreign direct investment and environmental degradation, especially in Asian economies, using panel data approaches for 21 Asian countries over the period of 1980-2018.

17 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the long-run nexus between economic growth and inward remittances during a three-decade period (1981-2008) and discussed some important policy implications arising out of the study's findings.
Abstract: [In the context of the current recession in industrialized countries and the resultant dim prospects for exports from small Pacific island countries, mobilization of foreign exchange earnings assumes considerable importance. The dependency of Samoa and Tonga on inward remittances is well known, as the two Polynesian island countries in recent years have been among the first top ten remittance recipient countries of the world. This paper examines the long-run nexus between economic growth and inward remittances during a three-decade period (1981-2008). The paper also discusses some important policy implications arising out of the study's findings., Abstract In the context of the current recession in industrialized countries and the resultant dim prospects for exports from small Pacific island countries, mobilization of foreign exchange earnings assumes considerable importance. The dependency of Samoa and Tonga on inward remittances is well known, as the two Polynesian island countries in recent years have been among the first top ten remittance recipient countries of the world. This paper examines the long-run nexus between economic growth and inward remittances during a three-decade period (1981-2008). The paper also discusses some important policy implications arising out of the study’s findings.]

17 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the relationship between financial development and, respectively, capital accumulation and productivity in a time-series vector autoregression (VAR) framework, and found that there is either bi-directional Granger causality between finance development and capital accumulation or that Granger causal causality runs from capital accumulation to financial development, depending on how financial development is measured.
Abstract: Financial sector development may contribute to economic growth by facilitating capital accumulation and by improving productivity. This article investigates empirically the contribution that financial development may make to these two alternative drivers of economic growth in China using annual data for the period 1952 to 2005. Using cointegration and Granger-causality testing we examine the relationship between financial development and, respectively, capital accumulation and productivity in a time-series vector autoregression (VAR) framework. The substantive findings are that there is either bi-directional Granger causality between financial development and capital accumulation or that Granger causality runs from capital accumulation to financial development, depending on how capital accumulation and financial development are measured. The link between financial development and productivity is found to be statistically weak.

17 citations

Book
28 Jun 2016
TL;DR: In this article, the authors present the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, to provide a concise overview of the EI-related topics these professionals are likely to encounter.
Abstract: The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Economists, public finance professionals, and policy makers working in these countries are frequently confronted with issues that require an in-depth understanding of the sector—its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, Public Finance Professionals, and Policy Makers, published in the World Bank Studies series, is to provide a concise overview of the EI-related topics these professionals are likely to encounter. This second volume, Fiscal Management in Resource-Rich Countries, addresses the critical challenges that volatile, uncertain, and exhaustible revenues from the EI sector pose to fiscal policies in these countries. The volume discusses fiscal policy across four related dimensions: policies for short-run stabilization; management of fiscal risks and vulnerabilities; promotion of long-term sustainability; and the importance of good public financial management, public investment systems, and fiscal transparency. Institutional mechanisms used to help fiscal management are examined, including medium-term expenditure frameworks, fiscal rules, fiscal councils, and resource funds. The volume also discusses revenue earmarking and the resource prices used in the government budget and outlines important fiscal indicators for resource-rich countries. The authors hope that economists, public finance professionals, and policy makers working in resource-rich countries, including decision makers in ministries of finance, international organizations, and other relevant entities, will find the volume useful to their understanding and analysis of fiscal policy and public financial management.

17 citations

Journal ArticleDOI
TL;DR: In this article, the role of ICT (internet and mobile phone penetration) in complementing financial sector development (financial formalization and informalization) for financial access is assessed.
Abstract: This study assesses the role of ICT (internet and mobile phone penetration) in complementing financial sector development (financial formalization and informalization) for financial access. The empirical evidence is based on generalized method of moments with 53 African countries for the period 2004–2011. The following findings are established from linkages between ICT, financial sector development and financial activity. First, the interaction between ICT and financial formalization (informalization) decreases (increases) financial activity. Second, with regard to net effects, the expected signs are established for the most part. In spite of the negative marginal effects from financial informalization, the overall net effects are positive. Third, the potentially appealing interaction between ICT and informalization produces positive thresholds that are within ranges. Policy implications are discussed in three main strands. They include implications for (i) mobile/internet banking, (ii) a quiet life and (iii) ICT in reducing information asymmetry and surplus liquidity.

17 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
202357
202279
202155
202093
201991
201888