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  • Online Resource  (3)
  • Kpodar, Kangni  (3)
  • Open access  (3)
  • 1
    Online Resource
    Online Resource
    Financial deepening, terms of trade shocks, and growth volatility in low-income countries (2019)
    [Washington, DC] : International Monetary Fund
    Details
    UID:
    gbv_1666514527
    Format: 1 Online-Ressource (circa 36 Seiten) , Illustrationen
    ISBN: 9781498303569
    Series Statement: IMF working paper WP/19, 68
    Content: This paper contributes to the literature by looking at the possible relevance of the structure of the financial system-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased policy attention on strengthening growth resilience. With low-income countries (LICs) being the most vulnerable to large and frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock-amplifier for most economies. These findings are consistent across a range of econometric estimators, including fixed effect, system GMM and local projection estimates
    Language: English
    Keywords: Graue Literatur
    DOI: 10.5089/9781498303569.001
    URL: kostenfrei
    URL: Volltext  (kostenfrei)
    URL: Volltext  (kostenfrei)
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    Stabi Berlin
  • 2
    Online Resource
    Online Resource
    Does Financial Structure Matter for Poverty? Evidence from Developing Countries (2012)
    Details
    UID:
    gbv_797522476
    Format: Online-Ressource
    Series Statement: Policy Research working paper WPS 5915
    Content: Although there has been research looking at the relationship between the structure of the financial system and economic growth, much less work has dealt with the importance of bank-based versus market-based financial systems for poverty and income distribution. Empirical evidence has indicated that the structure of the financial system has little relevance for economic growth, suggesting that the same could be true for poverty since growth is an important driver in reducing poverty. Some theories, however, claim that, by reducing information and transaction costs, the development of bank-based financial systems could exert a particularly large impact on the poor. This paper looks at a sample of 47 developing economies from 1984 through 2008. The results suggest that when institutions are weak, bank-based financial systems are better at reducing poverty and, as institutions develop, market-based financial systems can turn out to be beneficial for the poor.
    Language: English
    URL: Volltext  (kostenfrei)
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    Stabi Berlin
  • 3
    Online Resource
    Online Resource
    Financial Deepening in the CFA Franc Zone : The Role of Institutions (2009)
    Washington, D.C : International Monetary Fund
    Details
    UID:
    gbv_845893017
    Format: Online-Ressource (17 p)
    Edition: Online-Ausg.
    ISBN: 1451872607 , 9781451872606
    Series Statement: IMF Working Papers Working Paper No. 09/113
    Content: During the 1980s and early 1990s many Sub-Saharan African (SSA) countries undertook reforms to promote financial sector deepening. Nevertheless, financial sectors in SSA countries remain among the shallowest in the world and, within Sub-Saharan Africa, financial depth in the CFA franc zone is even more limited. This paper sets out to investigate empirically factors that may explain why financial depth in the CFA franc zone is shallower than in the rest of SSA using panel data for a sample of 40 countries for 1992-2006. The results indicate that the gap in financial development between the CFA franc zone countries and the rest of SSA can be explained by differences in institutional quality (e.g., availability of credit information, and strength and enforcement of property rights), variables that policy makers can influence
    Language: English
    DOI: 10.5089/9781451872606.001
    URL: kostenfrei
    URL: Volltext  (IMF e-Library)
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    Stabi Berlin
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