Introducing A New Broad Based Index Of Financial Development
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| Author | : Katsiaryna Svirydzenka |
| Publisher | : International Monetary Fund |
| Total Pages | : 43 |
| Release | : 2016-01-12 |
| Genre | : Business & Economics |
| ISBN | : 1513583700 |
There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers.
| Author | : Katsiaryna Svirydzenka |
| Publisher | : International Monetary Fund |
| Total Pages | : 43 |
| Release | : 2016-01-12 |
| Genre | : Business & Economics |
| ISBN | : 1513530739 |
There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers.
| Author | : Ms.Ratna Sahay |
| Publisher | : International Monetary Fund |
| Total Pages | : 83 |
| Release | : 2020-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1513512242 |
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
| Author | : El Bachir Boukherouaa |
| Publisher | : International Monetary Fund |
| Total Pages | : 35 |
| Release | : 2021-10-22 |
| Genre | : Business & Economics |
| ISBN | : 1589063953 |
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
| Author | : Dyna Heng |
| Publisher | : International Monetary Fund |
| Total Pages | : 33 |
| Release | : 2016-04-12 |
| Genre | : Business & Economics |
| ISBN | : 1484327535 |
This paper examines the state of financial development in the Latin America and Caribbean (LAC) region as well as potential growth and stability implications from further development. The analysis suggests that access to financial institutions has expanded notably in the past decade, and the region compares favorably with other emerging market regions on this dimension. The region, however, continues to lag behind peers on broader financial development, especially with respect to markets, though there is substantial heterogeneity across countries. Financial systems in many LAC countries are also underdeveloped relative to their macroeconomic fundamentals. Further financial development could convey net benefits to the region, provided there is adequate regulatory oversight to prevent excesses.
| Author | : Mr.Bernard Laurens |
| Publisher | : International Monetary Fund |
| Total Pages | : 108 |
| Release | : 1996-09-26 |
| Genre | : Business & Economics |
| ISBN | : 9781557755629 |
In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
| Author | : |
| Publisher | : World Economic Forum |
| Total Pages | : 363 |
| Release | : 2008 |
| Genre | : Economic development |
| ISBN | : 9295044088 |
| Author | : Adolfo Barajas |
| Publisher | : |
| Total Pages | : 51 |
| Release | : 2020-08-07 |
| Genre | : |
| ISBN | : 9781513553009 |
The past two decades have seen a rapid increase in interest in financial inclusion, both from policymakers and researchers. This paper surveys the main findings from the literature, documenting the trends over time and gaps that have arisen across regions, income levels, and gender, among others. It points out that structural, as well as policy-related, factors, such as encouraging banking competition or channeling government payments through bank accounts, play an important role, and describes the potential macro and microeconomic benefits that can be derived from greater financial inclusion. It argues that policy should aim to identify and reduce frictions holding back financial inclusion, rather than targeting specific levels of inclusion. Finally, it suggests areas for future research.
| Author | : Ms.Ratna Sahay |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2015-05-04 |
| Genre | : Business & Economics |
| ISBN | : 1498312616 |
The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation—not necessarily more regulation—thus leads to greater possibilities both for development and stability.
| Author | : Thorsten Beck |
| Publisher | : World Bank Publications |
| Total Pages | : 67 |
| Release | : 1999 |
| Genre | : Banca central |
| ISBN | : |
This new database of indicators of financial development and structure across countries and over time unites a range of indicators that measure the size, activity, and efficiency of financial intermediaries and markets.
