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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Dissertation•
01 Jul 2018
3 citations
TL;DR: In this paper, the authors distil different models of the financial sector, which are characterized by peculiar interrelations among size, structure, efficiency, stability, inclusion and the institutional quality of financial development.
Abstract: In this paper, based on a cross-country analysis, the authors distil different models of the financial sector, which are characterized by peculiar interrelations among size, structure, efficiency, stability, inclusion and the institutional quality of financial development. Against this backdrop, the model of the Russian financial sector is described. To identify the financial sector models, cluster analysis involving the EM algorithm with a Bayesian extension is performed on a vast sample of countries. The analysis allows setting key long-term indicators of the Russian financial sector development, taking into consideration its potential of transition to the cluster of more financially advanced economies.
3 citations
TL;DR: In this article, the role of reducing information asymmetry (IA) on conditional financial sector development in 53 African countries for the period 2004-2011 was examined, based on contemporary and non-contemporary quantile regressions.
Abstract: Purpose- The purpose of this study is to examine the role of reducing information asymmetry (IA) on conditional financial sector development in 53 African countries for the period 2004-2011.
Design/methodology/approach- The empirical evidence is based on contemporary and non-contemporary quantile regressions. Instruments for reducing IA include pubic credit registries (PCRs) and private credit bureaus (PCBs). Hitherto unexplored dimensions of financial sector development are employed, namely: financial sector dynamics of formalization, informalization, semi-formalization and non-formalization.
Findings- The following findings are established. First, the positive (negative) effect of information sharing offices (ISO) on formal (informal) financial development is consistent with theory. Second, ISOs consistently increase: (i) formal financial development, with the incidence of PCRs higher in terms of magnitude and (ii) financial sector formalization, with the impact of PCBs higher for the most part. Third, only PCBs significantly decrease informal financial development and both ISOs decrease financial sector informalization. Policy implications are discussed.
Originality/value- The study assesses the effect of reducing information asymmetry on financial development when existing levels of it matter because current studies based on mean values of financial development provide blanket policy implications which are unlikely to be effective unless they are contingent on prevailing levels of financial development and tailored differently across countries with high, intermediate and low initial levels of financial development.
3 citations
TL;DR: In this paper , the authors re-assess the finance-growth relationship employing a broad-based measure of financial development and controlling for the stability-enabling features of financial environments.
3 citations
TL;DR: In this article, a research project submitted to the Department of Economics, Accounting and Finance in the School of Business in Partial fulfillment for the Degree of Master of Science in Economics in Jomo Kenyatta University of Agriculture and Technology.
3 citations