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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TL;DR: In this paper, the authors consider the link between financial structure and the productive sector, and raise some of the important issues that emerge in the process of financial reform and venture some tentative suggestions.
Abstract: Neither in theory nor in practice have financial economists confronted a problem as all encompassing as the reform of financial systems in the socialist economies in transition (SET). In the economics literature, the impact of the financial system on the productive sectors has been a subject of much dispute, and the analysis has not been completely satisfactory. In particular, country experience has only involved the diagnosis and design of remedies for comparatively limited specific problems and the implementation of marginal changes in working systems. The problems being tackled today in the SET are hence beyond both our theoretical range and prior experience in country work. The purpose of this paper is to raise some of the important issues that emerge in the process of financial reform and venture some tentative suggestions. The discussion centers mainly on banking, which in the SET is the dominant segment of the financial sector. It considers the link between financial structure and the productive sector. It deals with a range of structural issues, including efficiency, contestability, ownership, separation of banking and industry and regulation. It also examines the transitional problems involved in implementing the new structure, and the sequencing of reforms.
11 citations
Posted Content•
TL;DR: In this article, the authors investigated linkages between the mobile phone, information sharing offices (ISO) and financial sector development in 53 African countries for the period 2004-2011, based on contemporary and non-contemporary quantile regressions.
Abstract: This study investigates linkages between the mobile phone, information sharing offices (ISO) and financial sector development in 53 African countries for the period 2004-2011. ISO are private credit bureaus and public credit registries. The empirical evidence is based on contemporary and non-contemporary quantile regressions. Two main hypotheses are tested: mobile phones complement ISO to enhance the formal financial sector (Hypothesis 1) and mobile phones complement ISO to reduce the informal financial sector (Hypothesis 2). The hypotheses are largely confirmed. This research adds to the existing body of literature by engaging hitherto unexplored dimensions of financial sector development and investigating the role of mobile phones in information sharing for financial sector development.
11 citations
01 Jan 2012
TL;DR: This article found that financial sector development and access to credit are the most important drivers of entrepreneurship, but not with more entrepreneurial success, while women are less likely to attempt to set up a venture but no less likely than men to succeed than men once they try.
Abstract: Summary: Entrepreneurial activity is a key contributor to economic growth, innovation and the development of a market economy in transition countries Data from the Life in Transition Survey reveal that financial sector development and access to credit are the most important drivers of entrepreneurship Education is associated with a higher probability of trying to set up a business, but not with more entrepreneurial success Women are less likely to attempt to set up a venture but no less likely to succeed than men once they try Furthermore, entrepreneurial activity develops in clusters An individual is more likely to try – and succeed – in setting up a business in a region that is already home to many entrepreneurs
11 citations
31 May 2014
TL;DR: In this paper, the authors examined the long run and causal relationship between financial sector development and industrialization in Nigeria for the period 1981 to 2011 using time series data and found that the two measures of financial development had contrasting effects on industrial output.
Abstract: This paper examines the long run and causal relationship between financial sector development and industrialization in Nigeria for the period 1981 to 2011 using time series data. Results from a multivariate VAR and vector error correction model provide evidence of long run relationship between financial sector development and industrialization in Nigeria. The two measures of financial development had contrasting effects on industrial output. Ratio of private sector bank credit to GDP has a positive relationship with industrial output while the ratio of broad money stock to GDP has a negative relationship with industrial output. Granger causality test reveals long-run unidirectional causal link running from industrialization to financial development. There is therefore the urgent need for government to consolidate on past financial sector reforms to address the challenges of financial intermediation in the domestic financial sector to improve loan disbursement to the industrial sector of the Nigerian economy.
11 citations
TL;DR: In this article, the authors investigated the relationship between financial sector development and economic growth taking into consideration the role of institutions quality and found that unlike developing countries, developed countries enjoyed the presence of proper institutions in their countries which in turn have contributed further to the development of their financial sector.
Abstract: The main purpose of this paper is to investigate the relationship between financial sector development and economic growth taking into consideration the role of institutions quality. Our sample is on a group of 143 countries observed during the period of 2006-2013. The sample is dived into 100 developing and 43 developed countries. Using structural GMM the paper shows that financial sector plays a crucial role in economic development and growth for the whole sample as well as for developed and developing countries. However, the results show that unlike developing countries, developed countries enjoyed the presence of proper institutions in their countries which in turn have contributed further to the development of their financial sector.
11 citations