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The Resource Do financial sector reforms lead to financial development? : evidence from a new dataset, prepared by Thierry Tressel and Enrica Detragiache

Do financial sector reforms lead to financial development? : evidence from a new dataset, prepared by Thierry Tressel and Enrica Detragiache

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Author
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Summary
This paper studies whether the policies that, over the past decades, liberalized banking systems around the world have resulted in deeper credit markets. To measure banking sector reforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find that reforms have led to financial deepening, but only in countries with institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions that protect property rights. Other country characteristics do not seem to significantly influencethe effect of banking reforms on financial development
Language
eng
Work
Publication
Extent
1 online resource (42 pages)
Note
  • "December 2008."
  • At head of title: Research Department and IMF Institute
Contents
  • I. Introduction; II. The Empirical Model; III. The Data; IV. Estimation Results; V. Conclusions; References; Tables; 1. Sample Countries; 2. Summary Statistics; 3. Cross-Correlations; 4. Baseline Regression: Two Alternative Maximum Lags; 5A. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Shocks, Policies, Non-Linearities; 5B. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Institutions; 6. Regressions Countries with Good Property Rights; 7. GMM Regressions
  • 8. Regressions with 5 Year Periods Panels9. Impact of Specific Banking Sector Reforms on Financial Depth; Figures; 1. Financial Reforms by Regions; 2. Private Credit to GDP Around Episodes of Banking Reform; 3. Financial Depth and Banking Reform Index-evolution of cross-sectional dispersion; 4. Financial Depth and Banking Reform Index-correlation over time; 5. Estimated Effect of Banking Reforms on the Private Credit to GDP Ratio; Data Appendix; Appendix; Empirical Specification
Isbn
9781462375967
Instance
Label
Do financial sector reforms lead to financial development? : evidence from a new dataset
Title
Do financial sector reforms lead to financial development?
Title remainder
evidence from a new dataset
Statement of responsibility
prepared by Thierry Tressel and Enrica Detragiache
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
This paper studies whether the policies that, over the past decades, liberalized banking systems around the world have resulted in deeper credit markets. To measure banking sector reforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find that reforms have led to financial deepening, but only in countries with institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions that protect property rights. Other country characteristics do not seem to significantly influencethe effect of banking reforms on financial development
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Action
digitized
Cataloging source
OCLCE
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Tressel, Thierry
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
Language note
English
LC call number
HG3881.5.I58
LC item number
W67 NO.08/265 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Detragiache, Enrica
  • IMF Institute
  • International Monetary Fund
http://library.link/vocab/subjectName
  • Economic development
  • Banks and banking
  • Finance
  • Right of property
  • Banks and banking
  • Economic development
  • Finance
  • Finanzsektor
  • Kapitalmarktliberalisierung
  • Right of property
  • Welt
Label
Do financial sector reforms lead to financial development? : evidence from a new dataset, prepared by Thierry Tressel and Enrica Detragiache
Instantiates
Publication
Copyright
Note
  • "December 2008."
  • At head of title: Research Department and IMF Institute
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 22-25)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • I. Introduction; II. The Empirical Model; III. The Data; IV. Estimation Results; V. Conclusions; References; Tables; 1. Sample Countries; 2. Summary Statistics; 3. Cross-Correlations; 4. Baseline Regression: Two Alternative Maximum Lags; 5A. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Shocks, Policies, Non-Linearities; 5B. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Institutions; 6. Regressions Countries with Good Property Rights; 7. GMM Regressions
  • 8. Regressions with 5 Year Periods Panels9. Impact of Specific Banking Sector Reforms on Financial Depth; Figures; 1. Financial Reforms by Regions; 2. Private Credit to GDP Around Episodes of Banking Reform; 3. Financial Depth and Banking Reform Index-evolution of cross-sectional dispersion; 4. Financial Depth and Banking Reform Index-correlation over time; 5. Estimated Effect of Banking Reforms on the Private Credit to GDP Ratio; Data Appendix; Appendix; Empirical Specification
Control code
761874253
Dimensions
unknown
Extent
1 online resource (42 pages)
File format
one file format
Form of item
online
Isbn
9781462375967
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451915761.001
Other physical details
illustrations
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • imfWPIEA2008265
  • (IMF)WPIEA2008265
  • (OCoLC)761874253
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Label
Do financial sector reforms lead to financial development? : evidence from a new dataset, prepared by Thierry Tressel and Enrica Detragiache
Publication
Copyright
Note
  • "December 2008."
  • At head of title: Research Department and IMF Institute
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 22-25)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • I. Introduction; II. The Empirical Model; III. The Data; IV. Estimation Results; V. Conclusions; References; Tables; 1. Sample Countries; 2. Summary Statistics; 3. Cross-Correlations; 4. Baseline Regression: Two Alternative Maximum Lags; 5A. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Shocks, Policies, Non-Linearities; 5B. What Explains the Lack of Sustained Effect of Reforms on Financial Depth in Developing Countries? Institutions; 6. Regressions Countries with Good Property Rights; 7. GMM Regressions
  • 8. Regressions with 5 Year Periods Panels9. Impact of Specific Banking Sector Reforms on Financial Depth; Figures; 1. Financial Reforms by Regions; 2. Private Credit to GDP Around Episodes of Banking Reform; 3. Financial Depth and Banking Reform Index-evolution of cross-sectional dispersion; 4. Financial Depth and Banking Reform Index-correlation over time; 5. Estimated Effect of Banking Reforms on the Private Credit to GDP Ratio; Data Appendix; Appendix; Empirical Specification
Control code
761874253
Dimensions
unknown
Extent
1 online resource (42 pages)
File format
one file format
Form of item
online
Isbn
9781462375967
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451915761.001
Other physical details
illustrations
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • imfWPIEA2008265
  • (IMF)WPIEA2008265
  • (OCoLC)761874253
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

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