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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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01 Jan 2015
TL;DR: In this paper, the authors conducted a study on 150 employees from different financial institutions, such as banks, insurance, stockbrokers and microfinance companies, and found that operational risk management effects have positive effects on the financial development and growth in the financial sector.
Abstract: Operational risk in inherent in all financial products, activities and processes and systems and the effective management of operational risk is paramount importance for every financial institution board and senior management. With globalization and deregulation of financial markets, increased competition combined with the advent of high-end, innovative, sophisticated technology tremendous changes have taken place in the products distribution channels and serviced delivery mechanism of financial sector. These have introduced more complexities into the operations and consequently the risk partners and profiles of the sector have also become complex, diverse and catastrophic. The New Capital Adequacy Framework of most of most financial institutions requires them to study the regulatory frame work related to operational risk management. A research was conducted on 150 employees from different financial institutions, such as banks, insurance, stockbrokers and microfinance companies. Analysis of Variance (ANOVA) was used to test the hypothesis and response of respondents was analyzed through the use of Statistical Package for Social Science (SPSS). The result showed that operational risk management effects have positive effects on the financial development and growth in the financial sector.

6 citations

Journal ArticleDOI
TL;DR: In this article, the authors studied the relationship between financial development, economic growth and millennium development goals in South Africa and found that there are long run relationships between per capita spending on food, per capita income and financial sector development.
Abstract: The relationship between financial development, economic growth and millennium development goals are unsettled in the literature. Using four indicators of financial development, this paper studies the link between the three variables in South Africa. In general, per capita income improves per capita spending on education in the short run. However, total domestic credit to GDP ratio decreases spending on education. There are highly significant long run relationships among the variables. Improving access to private sector credit and increasing per capita incomes are associated with improvement in health outcomes in South Africa. There are no short run nor long run relationships between household spending on clothes, economic growth and financial sector development. Improved private sector credit also improves household spending on food. In general, there are long run relationships between per capita spending on food, per capita income and financial sector development.

6 citations

01 Nov 2009
TL;DR: A vigorous economic rebound is under way in East Asia since the second quarter of 2009, following the sharp impact from the financial crisis and the global recession that began in late 2008 as mentioned in this paper.
Abstract: A vigorous economic rebound is under way in East Asia since the second quarter of 2009, following the sharp impact from the financial crisis and the global recession that began in late 2008. As much as the reduction in exports and industrial production across the region in the fourth quarter of 2008 and the first quarter of 2009 was unexpectedly swift and deep, so is the strength of the rebound, with doubts about green shoots dispelled in a matter of months and replaced by near-consensus views of a synchronized global rebound led by emerging East Asia. The robust rebound is due to a combination of timely and large fiscal and monetary stimulus in most countries in East Asia, notably in China, and a powerful process of inventory restocking that began after mid-2009. Globally, the advanced economies joined the rebound trend in the third quarter of 2009, and their contributions to global industrial production notably driven by inventory accumulation have begun to outpace the contribution from the East Asia region. These developments are set against a background of solid macroeconomic fundamentals, including high foreign exchange reserves, large private and corporate savings, and low corporate and government debt. The region's well-capitalized banks and much improved banking supervision since the 1997-98 Asian financial crisis have also helped limit financial contagion and the transmission of the forces of global recession.

6 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the short and long-term effects of urbanisation via favorable urban development policies, on income distribution and social welfare for a developing country, in which the urban manufacturing sector is characterised by imperfect competition and free entry.
Abstract: This paper examines the short and long‐term effects of urbanisation, via favourable urban development policies, on income distribution and social welfare for a developing country, in which the urban manufacturing sector is characterised by imperfect competition and free entry. Urbanisation shifts rural workers to the highly productive urban sector, while causing production in urban firms to expand because of scale economies. However, urbanisation may worsen wage inequality between skilled and unskilled labour in the short term. In the long term, urbanisation can attract new firms to the urban sector and favourable urban development policies may result in excessive entry of firms, which can amplify wage inequality in the economy. This entry‐amplifying effect is confirmed empirically, especially for low and lower‐middle‐income countries. If the entry effect is not considered, the impact of urbanisation on wage inequality could be understated by 13% for low and lower‐middle‐income countries.

6 citations

01 Sep 2015
TL;DR: The data in this book are for 2003, 2008, and 2013 as discussed by the authors, and data are shown for economies with population greater than 30,000 or for smaller economies if they are members of the World Bank.
Abstract: The data in this book are for 2003, 2008, and 2013. Data are shown for economies with population greater than 30,000 or for smaller economies if they are members of the World Bank. The little data book has put emphasis on long-term finance indicators and in particular, includes additional variables capturing different aspects of long-term capital markets. The financial development data in this book are a small slice of the information contained in the global financial development database (GFDD).

6 citations


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