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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TL;DR: In this article, a composite financial index (for 18 smart cities) is developed covering the dimensions of access and usage of financial services. But, the discussion on how people residing within the smart city could access finance is often missing in this discourse.
35 citations
TL;DR: The authors examined the impact of bank credits on non-oil tradable sector output using aggregate data from Azerbaijan and found that bank credits have a positive impact on NOC output both in the long and short run.
35 citations
Journal Article•
TL;DR: In this paper, the authors examined bank-specific, industry-specific and macroeconomic factors that influence credit risk in commercial banks in Ghana using unbalanced panel data set from 33 commercial banks covering the 21-year period 1990 to 2010.
Abstract: This paper examines bank-specific, industry-specific and macroeconomic factors that influence credit risk (CR) in commercial banks in Ghana using unbalanced panel data set from 33 commercial banks covering the 21-year period 1990 to 2010. The study employed annual time series data from 1990 to 2010. The paper is the first of its kind in Ghana, a developing country with emphasis on macroeconomic tools relied on by the central bank for creating a stable macroeconomic environment. Results suggest that credit risk in Ghana is significantly influenced by management efficiency, GDPPC, Government borrowing and the financial sector development. Government borrowing and financial sector development have a negative relationship with credit risk while management inefficiency and GDPPC have a positive relationship. Keywords : Ghana, Credit risk , Bank-specific factors, Industry-Specific factors, Macroeconomic variables
35 citations
Posted Content•
TL;DR: In this paper, the authors examined the link between financial development and industrial growth using an aggregate production framework and autoregressive distributed lag (ARDL) cointegration technique for Nigerian time series data covering the period 1970 to 2009.
Abstract: Literature abound justifying that industrialization is a pathway to economic development and growth. Whereas linkage between financial development and economic growth has long been a subject of intense scrutiny, not much has been done to examine the link between financial development and industrial growth. Using an aggregate production framework and autoregressive distributed lag (ARDL) cointegration technique for Nigerian time series data covering the period 1970 to 2009, the paper finds a cointegration relationship between financial sector development and industrial production. Both the long run and short run dynamic coefficients of financial sector development variables have negative and statistically significant impact on industrial production. Based on these research outcomes the following policy implications can be drawn: the most important task for government of Nigeria is to introduce further financial sector reforms to improve the efficiency of the domestic financial sector which is a pre-requisite for the achievement of industrial development. The inefficiency of the financial sector is responsible for the adverse impact on industrial production. Appropriate measures should be taken to eliminate the constraints and challenges facing small and medium scale enterprise (SME) funding schemes, as these enterprises form the bedrock of the Nigerian industrial sector. Furthermore, industrialization
34 citations
TL;DR: In this paper, the authors investigated the impact of financial sector development, sophistication and performance on economic growth based on a panel regression methodology and found statistically significant results that confirm the importance of this connection and that are very consistent with economic theory.
Abstract: The drivers of economic growth and development are among the most important issues explored by economic theory. Sustainability of economic development was previously linked by various economic schools of thought to natural resources (agriculture, land, minerals, metals etc.), labor force (including skills, productivity, and education), entrepreneurship or technology and innovation. Capital was later introduced by classical economic theory as the key element. Without significant capital accumulation, all other production factors remain idle. The value added of the production process is a result of the existence, the accessibility and the cost of capital. Therefore, the development and the sophistication of the financial sector has gradually become very important for any nation interested in sustainable growth. This paper investigates the impact of financial sector development, sophistication and performance on economic growth based on a panel regression methodology. We found statistically significant results that confirm the importance of this connection and that are very consistent with economic theory and previous relevant articles and studies.
34 citations