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.

Public Expenditure and Financial Accountability: Assessing Public Financial Management Performance and Influencing Reform Processes

Abstract: 1 Lewis Hawke has headed the PEFA Secretariat since November 2014, leading implementation of the PEFA 2016 framework. Hawke has worked in the public sector and international development for more than 30 years and in 30 countries. He was a senior executive in the Department of Finance of the Government of Australia and a senior offi cial in the United Kingdom Her Majesty’s Treasury responsible for the development and implementation of leading edge public administration reforms. He was a World Bank lead public sector specialist for the Europe and Central Asia region until December 2014 when he was appointed as the head of the PEFA Secretariat. By Lewis Hawke1 Experience from Asia and the Pacifi c

Fiscal policy coordination in Asia: East Asian Infrastructure Investment Fund

Abstract: East Asian countries were seriously affected by the 2008 global crisis through a steep fall in exports. This experience exposed the vulnerability of the East Asian growth model and emphasized the importance of generating regional growth by expanding domestic demand and enlarging intra-regional trade. A key factor to achieving higher regional economic growth and enlarging intra-regional trade is the better connectivity of infrastructure such as roads, ports, airports, and rail links. Although some East Asian countries have made large investments in improving their infrastructures, others still lag behind. [ADBI Working Paper 232]

Factors affecting accessibility of microfinance services among the youth in nakuru county, kenya

Abstract: Financial sector development is recognized as a prerequisite to growth and poverty reduction. The goal of microfinance is to provide “booster shot”, and financing that would lead to the following projected outcomes, self-sufficiency for talented youth entrepreneurs, breaking of poverty cycle, facilitating and encouraging entrepreneurial spirit in quest for self-reliance and economic empowerment through business expansion and growth. Microfinance is seen as a solution to include on a large-scale previously excluded poorer groups like the youth without access to capital into the financial system so that they may “rise out of poverty” by on their own. This study was designed to assess the factors influencing accessibility of microfinance services amongst the youth in Nakuru County. The aim of the study was based on three objectives: entrepreneurship education and training and government policies and their influence on accessibility of microfinance services for youth. However, the study intended to answer two research questions based on the two objectives in relationship to accessibility of micro finance services for the youth. The study adopted survey design that was carried out in Nakuru County. The study sample comprised of 75 registered groups in the county. The instruments of data collection were self-administered questionnaires. The study concluded that, potential of entrepreneurship education and training to the overall sharpening of entrepreneurial instincts of youth entrepreneurs cannot be understated. Entrepreneurship education and training can drastically convert a novice youth entrepreneurs into a budding one with the knowledge to adapt, conquer and cope with the challenges in the world of business. Availability of affordable and accessible microfinance services is virtually important in enabling the budding youth entrepreneurs to succeed in business. Government policies on youth entrepreneurship should aim at reducing the bureaucracy in the participation of youth entrepreneurs in business. The current regime of regulatory framework requires an adaptation and inclusiveness to ensure that the youth entrepreneurs are incorporated and accommodated to engage in entrepreneurship. The study recommended that In order to enhance the full participation of youths in entrepreneurship and improve the wellbeing of their survival, the youths should be facilitated to access affordable microfinance credits. Also the government in collaboration with development partners should build capacity for youths to use credit efficiently and enforce laws for defaulters. On areas for further studies, the study on the determinants of entrepreneurial characteristics affecting accessibility of microfinance services among the youth in Nakuru County should be undertaken in other counties in Kenya. Key Words: Accessibility, Microfinance

Asian Capital Market Integration: Theory and Evidence

Abstract: Financial integration is a multidimensional process through which allocation of financial assets becomes increasingly borderless. This paper assesses the progress achieved thus far in capital market integration in Asia, and compares regional capital market integration with global financial integration. The results of the analysis on which the paper is based indicate that while the pace of regional integration of financial markets in Asia's emerging economies has accelerated in recent years, these markets remain more integrated with global financial markets than with other financial markets in the region. Further, integration of the region's domestic local-currency bond markets with their regional and global counterparts lags the pace of integration of its equity markets. The study also assesses the degree to which volatility in equity- and bond-market returns driven by financial turmoil originating at both the regional and global levels spills over into emerging Asia domestic equity and bond markets. The results of this analysis indicate that such spill-over significantly impacts both domestic equity and bond markets in the region. This finding suggests that ongoing regional capital market integration initiatives should take into account the risk of contagion that regional financial integration presents, and introduce measures for mitigating such risk as a means of ensuring financial stability in the region.