Topic
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.
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Book•
01 Jul 2003
TL;DR: Bakker et al. as mentioned in this paper presented an overview of capital account liberalization in the transition phase, focusing on advanced country experiences and earlier experiences with capital account and financial sector development in transition countries.
Abstract: Capital account liberalization in the transition phase - an overview, Age Bakker, Bryan Chapple. Part one - policy issues and earlier experiences: advanced country experiences with capital account liberalization, Age Baker sequencing capital account liberalization and financial sector stability, Stefan Ingves managing capital account liberalization - the experience of Indonesia, Malaysia, Korea and Thailand, Yung Chul Park, Chi-Young Song recent codes-based liberalization in the OECD, Eva Thiel capital account liberalization and financial sector development in transition countries, Willem Buiter, Anita Taci. Part two - transition country experiences: capital account liberalization in Ukraine, Anatolii Shapovalov capital account liberalization experiences in Armenia, Vache Gabrielyan, Armine Khachatryan capital flows and capital account liberalization in Croatia, Boris Vujcic the liberalization of the capital account in Hungary - experiences and lessons, Roger Nord capital account liberalization and financial market reform in the Republic of Moldova, Veronica Bacalu capital account liberalization in Poland, Ewa Sadowska-Cieslak.
12 citations
Book•
23 Dec 2002
TL;DR: In this paper, the authors reviewed the decade of rapid political, and economic transformation, where obstacles to reform had to be surmounted, namely, state-owned institutions' need to focus on regulation and oversight; an economic structure more focused on comparative advantage; production and distribution systems needed to undergo organizational, and structural changes; while the newly created financial sector struggled through regulation, amidst a weak authority, and complex federal system.
Abstract: The Country Assistance Evaluation (CAE) for Russia, covering the period 1992-2001, showed disappointing, but improving results for the Bank's activities in the Russian Federation. Despite unsatisfactory ratings during 1992-98, with only modest institutional development impacts, the Operations Evaluation Department (OED) rated the outcome satisfactory for the period 1998-01, and institutional development impacts as substantial. This paper reviews the decade of rapid political, and economic transformation, where obstacles to reform had to be surmounted, namely, state-owned institutions' need to focus on regulation and oversight; an economic structure more focused on comparative advantage; production and distribution systems' need to undergo organizational, and structural changes; while the newly created financial sector struggled through regulation, amidst a weak authority, and complex federal system. Yet, no major policy reversal occurred, and economic recovery is in place. The paper then examines from investment lending to the adjustment lending, with an improved portfolio performance as of 1999, where the question remains on the resilience of achievements to external shocks, particularly the drop of oil prices and other export commodities. Recommendations include assistance for reform, focused on further social consensus, with emphasis on public sector management, legal and judicial reform, investment and business climate, pension reform and labor market performance.
12 citations
TL;DR: In this article, the authors investigated how different types of mobile money services have developed in different environments and found that the regulatory environment does not need to be very sophisticated for the mobile industry to emerge.
Abstract: This study intends to increase understanding of how different types of mobile money services have developed in different environments. For this purpose, two countries were selected, the Republic of Korea and Uganda. From these study cases, some conclusions emerge. The development of mobile banking services can appear at different stages of financial sector development, but it requires a vibrant and competitive telecommunications sector. The regulatory environment does not need to be very sophisticated for the mobile industry to emerge. However, some elements appear to be important. The legal framework should allow (or at least not explicitly forbid) nonbank financial institutions to issue money and use banking agents or correspondents. To ensure wider use of the service by the population, it is important to educate the population on the benefits of mobile money services.
12 citations
Posted Content•
TL;DR: In this article, the authors study how foreign bank penetration affects financial sector development in poor countries and find that when foreign banks are better at monitoring highend customers than domestic banks, their entry benefits those customers but may hurt other customers and worsen welfare.
Abstract: We study how foreign bank penetration affects financial sector development in poor countries. A theoretical model shows that when foreign banks are better at monitoring highend customers than domestic banks, their entry benefits those customers but may hurt other customers and worsen welfare. The model also predicts that credit to the private sector should be lower in countries with more foreign bank penetration. In the empirical section, we show that, in poor countries, a stronger foreign bank presence is robustly associated with less credit to the private sector both in cross-sectional and panel tests. In addition, in countries with more foreign bank penetration, credit growth is slower and there is less access to credit. We find no adverse effects of foreign bank presence in more advanced countries.
12 citations
01 Oct 2004
TL;DR: In this article, the authors report that if micro-finance in Uganda is to continue to flourish, a number of challenges must also be resolved, including the need for a coherent rural finance strategy that goes beyond microfinance institutions, over-ambitious government expectations of micro-financing, particularly with respect to rapid rural outreach, political pressure on the government to intervene in the micro finance market, the need to renewed sector-wide training to develop greater depth of micro finance resources in Uganda, and inadequate protection of poor people's savings in savings and credit cooperatives and non-
Abstract: Microfinance in Uganda grew rapidly between 1998 and 2003 due to a combination of significant donor funding; a shared stakeholder vision for the sector, including active government support for the vision; skilled human resources; and intensive collaboration among the major stakeholders (practitioner organizations, donor agencies, and government bodies). At the end of 2003, approximately 1,500 microfinance institutions (MFIs) were serving more than 935,000 small savers and close to 400,000 borrowers in the country. The Ugandan parliament passed the Micro Deposit-Taking Institution Act in 2003, which created the conditions for MFIs to become regulated, deposit taking institutions. Shared stakeholder vision, skilled human resources, and intensive stakeholder collaboration have been the three major drivers of effective microfinance in Uganda. The report finds that if microfinance in Uganda is to continue to flourish, a number of challenges must also be resolved. Resolution of these challenges will require conscious stakeholder action in both policy and implementation. Among these challenges are the need for a coherent rural finance strategy that goes beyond microfinance institutions; over-ambitious government expectations of microfinance, particularly with respect to rapid rural outreach; political pressure on the government to intervene in the microfinance market; the need for renewed sector-wide training to develop greater depth of microfinance resources in Uganda; and inadequate protection of poor people's savings in savings and credit cooperatives and non-governmental organizations.
12 citations