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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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Book ChapterDOI
01 Jan 2013
TL;DR: In this article, the authors study whether micro-finance institutions (MFIs) have improved the availability of credit to microenterprises in Eastern Europe and Central Asia (ECA) in the first half of the past decade.
Abstract: We study whether microfinance institutions (MFIs) have improved the availability of credit to microenterprises in Eastern Europe and Central Asia (ECA) in the first half of the past decade. Our approach is different from that of a typical microfinance impact study, which focuses on evaluating social or economic impact of a single MFI (or product). Our motivation is closer to the financial sector development microfinance ‘schism’ that requires MFIs to lend to poor entrepreneurs who already have the skills and the markets but lack credit (Conning, 1999). Countries in the ECA region are appropriate for such an approach because, during the study period, they had an educated but impoverished population and limited credit supply.

11 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the relationship between inflation and financial sector development in Nigeria over the period between 1970 and 2012, and found that low and stable prices are a necessary first step to achieving a deeper and more active financial sector that will enhance growth.
Abstract: The paper examines the long run and short run relationships between inflation and financial sector development in Nigeria over the period between 1970 and 2012. Three variables, namely; broad definition of money as ratio of GDP, quasi money as share of GDP and credit to private sector as share of GDP, were used to proxy financial sector development. Our findings suggest that inflation presented deleterious effects on financial development over the study period. The main implication of the results is that poor macroeconomic performance has deleterious effects to financial development - a variable that is important for affecting economic growth and income inequality. More so, we observed a negative effect of the measures of financial development on growth, suggesting that impact of inflation on the economic growth passes through financial sector. Therefore, low and stable prices, is a necessary first step to achieving a deeper and more active financial sector that will enhance growth as predicted by Schumpeter.

11 citations

01 Jan 2000
TL;DR: In this article, the authors examine the contribution that financial sector development can make to poverty reduction in developing countries, and argue that financial market imperfections are a key constraint on pro-poor growth, and that public policy directed at the correction of these financial market failures is needed to ensure that financial development contributes effectively to growth and poverty reduction.
Abstract: The frequent failure of financial liberalisation efforts in developing countries, and the serious damage which recent financial crises have imposed on these economies, have led to renewed attempts to understand the relationships between financial sector development, economic growth and poverty reduction, and to provide a more robust intellectual foundation on which to design efficient and pro-poor financial sector policies for developing countries. The paper examines the contribution that financial sector development can make to poverty reduction in developing countries. The linkages between financial and economic growth, and between economic growth and poverty reduction, are considered, and some preliminary empirical evidence is presented on these linkages. The paper goes on to argue that financial market imperfections are a key constraint on pro-poor growth, and that public policy directed at the correction of these financial market failures is needed to ensure that financial development contributes effectively to growth and poverty reduction. The final part of the paper examines in some detail the role of financial regulation and supervision policy as a key area for public intervention directed at enhancing the financial sector’s contribution to poverty reduction.

11 citations

Posted Content
TL;DR: In this article, financial inclusion is about introducing justice and equity in financial systems and focuses on: (i) extending financial services to previously excluded populations and micro-entrepreneurs; (ii) empowering the poor and low income populations that have largely been excluded from access to financial services; and (iii) extending access through provision of holistic services ranging from credit delivery to deposits, insurance and pensions and other financial services.
Abstract: Financial inclusion is about introducing justice and equity in financial systems and focuses on: (i) extending financial services to previously excluded populations and micro-entrepreneurs; (ii) empowering the poor and low income populations that have largely been excluded from access to financial services; and (iii) extending access through provision of holistic services ranging from credit delivery to deposits, insurance and pensions and other financial services.

11 citations

Journal ArticleDOI
TL;DR: In this paper, the Simultaneous Openness Hypothesis (SOP) and Generalized Method of Moments (GMM) were used to identify whether Nigeria's financial and trade openness contribute to the development of Nigeria's economy.
Abstract: With so many countries of the world now open to global capital and trade, this study identi?es whether ?nancial and trade openness contribute to the development of Nigeria’s ?nancial system by considering both ?nancial depth and access to ?nance indicators. To achieve this objective, we applied the Simultaneous Openness Hypothesis as our theoretical framework and the Generalized Method of Moments (GMM) as our estimation method. Our ?ndings reveal that opening trade while neglecting capital (vice versa) may be detrimental to the development of Nigeria ?nancial system. In view of this evidence, we recommend that the simultaneous opening of trade and ?nance is a more guaranteed way of ensuring improved ?nancial development in Nigeria. JEL Classification: F1; F3; G1; G2

11 citations


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