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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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30 Jun 2002
TL;DR: The paper as discussed by the authors was prepared while the author was a professor of economics at the University of Osaka and a Visiting Scholar at the ADB Institute, and the author thanks Masaru Yoshitomi, Hidenobu Okuda, and anonymous referees for useful comments.
Abstract: This paper was prepared while the author was a professor of economics at the University of Osaka and a Visiting Scholar at the ADB Institute. Without implicating, the author thanks Masaru Yoshitomi, Hidenobu Okuda, and anonymous referees for useful comments. The views expressed in the paper do not necessarily represent those of the International Monetary Fund, the Independent Evaluation Office, or the ADB Institute.

24 citations

DOI
01 Dec 2006
TL;DR: This paper found that most of the variation in bilateral remittance flows can be explained by a few gravity variables, suggesting that remittances may not play a major role in limiting vulnerability to shocks.
Abstract: This paper creates the first dataset of bilateral remittance flows for a limited set of developing countries and estimates a gravity model for workers' remittances. We find that most of the variation in bilateral remittance flows can be explained by a few gravity variables. The evidence on the motives to remit is mixed, but altruism may be less of a factor than commonly believed. Most strikingly, remittances do not seem to increase in the wake of a natural disaster and appear aligned with the business cycle in the home country, suggesting that remittances may not play a major role in limiting vulnerability to shocks. To encourage remittances and maximize their economic impact, policies should be directed at reducing transaction costs, promoting financial sector development, and improving the business climate.

24 citations

Journal ArticleDOI
TL;DR: In this article, the authors investigated the long run relationship between financial sector development and unemployment in Pakistan, along with the direction of causality, and found that increased financial sector activities showed positive impact on reducing unemployment in short run as well as in the long-run.
Abstract: The study empirically investigated the long run relationship between financial sector development and unemployment in Pakistan, along with the direction of causality. Annual data used were from the period of 1973 to 2007. Auto Regressive Distributed Lag (ARDL) bound testing technique for cointegration was applied to estimate the long run relationship. A stable long run relationship was found between financial sector indicators and unemployment. Escalating money circulation in economy proved to have negative impact on employment rate as it increased the unemployment rate by 2.3 percent for aone percent increase in M2 minus currency in circulation/GDP. Increased Financial sector activities showed positive impact on reducing unemployment in short run as well as in the long run. Further, Granger causality test revealed the importance of credit disbursement to private sector in improving job opportunities and increasing employment rate.

24 citations

Journal ArticleDOI
TL;DR: This paper applied a production function approach to analyze the impact of single financial market segments along with real capital stock growth, labor participation rate and educational attainment on economic growth in four emerging economies from Southeastern Europe.
Abstract: Many inquiries into whether and how finance supports economic growth use broad cross-country samples, combine countries at a different development stage, focus on the financial system at large, and rely on older data. Using recent (1995-2005) data, we investigate the finance-growth-nexus in a narrow four-country sample of four emerging economies from Southeastern Europe that share many similarities. We apply a production function approach to analyze the impact of single financial market segments along with real capital stock growth, labor participation rate and educational attainment. Bond markets and the capital stock proved to have significant and positive effects on growth.

24 citations

Journal Article
TL;DR: In this article, the determinants of private saving in Sri Lanka were investigated using dynamic econometric techniques with a primary focus on the role of financial sector development, and empirical evidence was obtained indicating the existence of the Ricardian equivalence hypothesis and the significance of credit constraints on private saving.
Abstract: Using dynamic econometric techniques the paper investigates the determinants of private saving in Sri Lanka with a primary focus on the role of financial sector development. Empirical evidence is obtained indicating the existence of the Ricardian equivalence hypothesis, and the significance of credit constraints on private saving. Most significantly, an index of financial sector development variables is constructed, based on measures of the relative size of the financial sector, the absolute size, and the activity of financial intermediaries. The index is found to have a significant positive influence on the level of private saving, giving support to the hypothesized nexus between saving and financial sector development.

24 citations


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