scispace - formally typeset
Search or ask a question
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.


Papers
More filters
Journal ArticleDOI
TL;DR: In this article, the authors examine the ways in which financial sector development policy might contribute to poverty reduction, particularly by supporting the growth of micro and small enterprises (MSEs).
Abstract: This paper examines the ways in which financial sector development policy might contribute to poverty reduction, particularly by supporting the growth of micro and small enterprises (MSEs). Specifically, the paper draws on case studies and empirical work on the changing role of MSEs in the development process and the access of MSEs to informal and formal finance, including the role of microfinance. A number of research priorities relating to the links among financial policy, small enterprise development and poverty reduction are identified for the immediate attention of researchers engaged in contributing to the achievement of the Millennium Development Goal (MDG) of halving global poverty by 2015. Copyright © 2006 John Wiley & Sons, Ltd.

122 citations

Posted Content
TL;DR: In this article, the authors assess the role of financial development on income inequality in a panel of 48 African countries for the period 1996 to 2014 and find that with the exception of financial stability, access to credit (or financial activity) and intermediation efficiency, financial sector development indicators have favorable income redistributive effects.
Abstract: The study assesses the role of financial development on income inequality in a panel of 48 African countries for the period 1996 to 2014. Financial development is defined in terms of depth (money supply and liquid liabilities), efficiency (from banking and financial system perspectives), activity (at banking and financial system levels) and stability while, three indicators of inequality are used, namely, the: Gini coefficient, Atkinson index and Palma ratio. The empirical evidence is based on Generalised Method of Moments. When financial sector development indicators are used exclusively as strictly exogenous variables in the identification process, it is broadly established that with the exception of financial stability, access to credit (or financial activity) and intermediation efficiency have favourable income redistributive effects. The findings are robust to the: control for unobserved heterogeneity in terms of time effects and inclusion of time invariant variables as strictly exogenous variables in the identification process. The findings are also robust to the Kuznets hypothesis: a humped shaped nexus between increasing GDP per capita and inequality. Policy implications are discussed.

120 citations

BookDOI
TL;DR: In this paper, the authors examined the effect of different design features of deposit insurance on long-run financial development, defined to include the level of financial activity, the stability of the banking sector, and the quality of resource allocation.
Abstract: The authors examine the effect of different design features of deposit insurance, on long-run financial development, defined to include the level of financial activity, the stability of the banking sector, and the quality of resource allocation. Their empirical analysis is guided by recent theories of banking regulation, that employ an agency framework. The authors examine the effect of deposit insurance on the size, and volatility of the financial sector, in a sample of fifty eight countries. They find that generous deposit insurance, leads to financial instability in lax regulatory environments. But in sound regulatory environments, deposit insurance does have the desired impact on financial development, and growth. Thus, countries introducing a deposit insurance scheme, need to ensure that it is accompanied by a sound regulatory framework. Otherwise, the scheme will likely lead to instability, and deter financial development. In weak regulatory environments, policymakers should at least limit deposit insurance coverage.

120 citations

Journal ArticleDOI
TL;DR: In this paper, the authors use data from financial access surveys carried out in 2006 in Kenya and Uganda to investigate the socioeconomic, demographic and geographical factors influencing access to and exclusion from formal, semi-formal and informal financial services.
Abstract: Policy emphasis has recently shifted to ‘Finance for All’ given evidence that financial sector development contributes to growth but effects on poverty do not arise from pro-poor provision. We argue that, given this policy goal, analyses of barriers to access must be country specific and go beyond the emphasis on transactions costs to incorporate the effects of social institutions since these contribute to discrimination. This paper uses data from Financial Access Surveys carried out in 2006 in Kenya and Uganda to investigate the socio-economic, demographic and geographical factors influencing access to and exclusion from formal, semi-formal and informal financial services.

119 citations

Book
07 Sep 2011
TL;DR: This book creates an opportunity for Africa's policy makers, private sector, civil society, and development partners to harness the progress of the past as a way to address the challenges of the future and enable the financial sector to play its rightful role in Africa's transformation.
Abstract: Financing Africa: through the crisis and beyond is a call to arms for a new approach to Africa's financial sector development. First, policy makers should focus on increasing competition within and outside the banking sector to foster innovation. This implies a more open regulatory mindset, possibly reversing the usual timeline of legislation-regulation-innovation for new players and products. It also implies expanding traditional infrastructure, such as credit registries and payment systems beyond banks. Second, the focus should be on services rather than existing institutions and markets. Expanding provision of payment, savings and other financial services to the unbanked might mean looking beyond existing institutions, products, and delivery channels, such as banks, traditional checking accounts, and brick-and-mortar branches. All financial sector policy is local. To reap the benefits of globalization, regional integration, and technology, policy makers have to recognize the politics of financial deepening and build constituencies for financial sector reform. While the challenges of expanding access, lengthening contracts, and safeguarding the financial system are similar, the ways of addressing them will depend on the circumstances and context of each country. With its cautiously optimistic tone, this book creates an opportunity for Africa's policy makers, private sector, civil society, and development partners to harness the progress of the past as a way to address the challenges of the future and enable the financial sector to play its rightful role in Africa's transformation.

119 citations


Network Information
Related Topics (5)
Exchange rate
47.2K papers, 944.5K citations
82% related
Foreign direct investment
47.2K papers, 1M citations
82% related
Interest rate
47K papers, 1M citations
80% related
Volatility (finance)
38.2K papers, 979.1K citations
80% related
Monetary policy
57.8K papers, 1.2M citations
80% related
Performance
Metrics
No. of papers in the topic in previous years
YearPapers
202357
202279
202155
202093
201991
201888