Working Papers in full text
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
Do Financial Sector Reforms Lead to Financial Development? Evidence from a New Dataset
|
Author/Editor: |
Tressel, Thierry | Detragiache, Enrica |
| Authorized for Distribution: |
December 1, 2008 |
|
Electronic Access: |
Free Full Text (PDF file size is 713KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
|
|
Summary: This paper studies whether the policies that, over the past decades, liberalized bankingsystems around the world have resulted in deeper credit markets. To measure banking sectorreforms 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 countrieswith institutions that place checks and balances on political power. We interpret this asevidence of a complementarity between financial sector reforms and political institutions thatprotect property rights. Other country characteristics do not seem to significantly influencethe effect of banking reforms on financial development.
|
|
|
|
Series: |
Working Paper No. 08/265 |
|
Subject(s): |
Economic reforms | Financial sector | Development | Banking systems | Political economy | Credit policy | Economic models |
|
Author's keyword(s): |
Financial development | financial liberalization | property rights |
|
|
|
|
| |
Published: |
|
December 1, 2008 |
|
|
|
|
| |
|
|
|
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA2008265 |
|
Pages: |
|
42 |
| |
Price: |
|
US$18.00
|
|
|
|
|
|
|
