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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.


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Book
01 Feb 2011
TL;DR: The South Asia Pension Forum (SAPF) as discussed by the authors is an initiative of the Asian Pension Forum, which was established by the World Bank and the Asian Development Bank to promote the development of South Asia's pension systems.
Abstract: viii I. Context 1 Demography and Labor Markets 1 Limited Coverage and High Fiscal Cost of Formal Pension Programs 3 Limited Capacity for Meaningful Fiscal Transfers 4 Financial Sector Development and Access 5 II. Overview of Pension Systems in South Asia 7 Bangladesh 7 India 8 Nepal 10 Pakistan 12 Sri Lanka 14 III. South Asia Pension Forum: Proposal 17 Rationale and Role 17 Precedence 19 Mission 21 Goals 21 Activities 22 Organization Structure 24 Editorial Board 24 Steering Committee 25 Members 25

8 citations

Book
06 Dec 2016
TL;DR: In this article, the authors examined how the Foreign Direct Investment inflows in Ethiopia is determined by the financial sector development, domestic investment, lending interest rate, exchange rate, human capital development, trade openness and domestic market potential in Ethiopia.
Abstract: This study examined how the Foreign Direct Investment inflows in Ethiopia is determined by, the financial sector development, domestic investment, lending interest rate, exchange rate, human capital development ,trade openness and domestic market potential in Ethiopia. In doing so, the study used a VECM with co-integration based on secondary data from 1975-2014 collected from various sources. The study revealed that, FDI in Ethiopia is highly determined by domestic investment, lending interest rate, exchange rate depreciation, domestic market potential and trade openness. However, human capital development and financial sector development are found to be an insignificant effect on FDI in Ethiopia. So that, the government of Ethiopia needs to work towards increasing the countries market potential by further enhancing the economic growth. Besides, it needs to continue the existing managed floating exchange rate regime, modifying the existing lending interest rate based on the kind of investment and kind of benefit the government and the country will have got, work towards encouraging the import substituting foreign direct investment. Keywords: Vector Error Correction Model, FDI, Depreciation, Co-integration

8 citations

Dissertation
01 Mar 2016
TL;DR: In this article, the authors examined the relationship between human welfare measured by the aggregate HumanDevelopment Index and financial sector measured by broad money (M2) is influenced by the level of income inequality in Sub-Sahara African countries from 1990 to 2010.
Abstract: This thesis contains the findings of an examination of the joint and endogenous evolution of financial development, income inequality and human welfare using data for a sample of 29 Sub-Sahara African countries from 1990 to 2010. Specifically, the study purposed to investigate whether the relationship between human welfare measured by the aggregate Human Development Index and financial sector measured by broad money (M2) is influenced by the level of income inequality in SSA. Unlike previous studies, this study uses the Vector Error Correction Model (VECM) methodology to correct for biases arising from the presence of unit roots, serial correlation and endogeneity. The results suggest that financial sector development measured by its size or broad money as a percentage of GDP (M2/GDP) yields a disproportionately higher and significant robust effect on living standards in SSA when national incomes are highly unequally distributed (GINI > 0.45) both in the long and short run. This finding is strongly causal and irrespective of whether a multidimensional measure of welfare such as the human development index (HDI) or a one-dimensional measure such as the infant mortality rate is employed. Also, the finding that high income inequality is not a fatality in SSA could be taken as evidence in support of the Kuznets (1955) hypothesis. In addition, the results suggest that the disproportionate impact of financial sector deepening (credit to the private sector) on human welfare in the highly unequal countries only occurs in the long run. Contrary to Beck et al. (2007), the liquidity, savings and transactions functions offered by a more developed financial sector in terms of broad money (M2) provides a higher economic wellbeing for the residents of our highly unequal SSA sub-sample than credit issued to private individuals and businesses. Again, this study found that the disproportionate impact of financial sector development in the highly unequal countries is related to an average ratio to GDP of broad money (M2) of 25 percent and credit to the private sector of 18 percent calculated independently of the VECM model. The implication is that these average ratios could be important thresholds for which the impact of financial development on human welfare becomes vital. This is consistent with theories that suggest that there is increasing returns to scale as the financial sector develops from a lower level. Consequently, and because of the finding that there is strong causality between M2 and human welfare in the highly unequal SSA countries in our sample, any policy designs to combat poverty and enhance living standards in such countries must have a strong financial sector development component. Then too, the findings suggest that low income SSA countries must enact adequate policies to increase the size and depth of their financial sectors to reach at least, a long term average ratio to GDP of 25 percent for M2 and 18 percent for credit to the private sector.

8 citations

Journal ArticleDOI
TL;DR: In this paper, the authors investigated the relationship between the crude oil price and private investment in Saudi Arabia and found that public investment has adverse effects on the domestic private investment, while other variables contribute in stimulating private investment.

8 citations

BookDOI
Jose de Luna Martinez1
TL;DR: In this paper, the authors analyzed the factors that have prevented the development of a large and inclusive banking system in Zambia and highlighted possible actions that may help improve access to finance in both the short and long terms.
Abstract: Despite the deep financial sector reforms undertaken in Zambia in the early 1990s, the expected benefits of establishing a market-based banking system has not materialized. In 2005 the banking system continued to be small and underdeveloped. Credit to the private sector by banks represented only 8 percent of GDP in 2005, which is slightly lower than the level registered in 1990. As in the early 1990s, only large corporations and a few small- and medium-size enterprises have access to credit in 2006. Moreover, less than 8 percent of Zambia's adult population had a bank account in 2005. And despite the open door policy to foreign financial institutions, which has been in place since Zambia's independence, only a few new banking products have been introduced by foreign banks to serve the needs of households and firms. This paper analyzes the factors that have prevented the development of a large and inclusive banking system in Zambia and highlights possible actions that may help improve access to finance in Zambia in both the short and long terms.

8 citations


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