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
|
|
|
|
Mother, Can I trust the Government?Sustained Financial Deepening - A Political InstitutionsView
|
Author/Editor: |
Quintyn, Marc | Verdier, Geneviève |
| Authorized for Distribution: |
September 1, 2010 |
|
Electronic Access: |
Free Full Text (PDF file size is 1,328KB)
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: Only a minority of countries have succeeded in establishing a developed financial system, despite widespread financial liberalization. Confronted with this finding, the political institutions view claims that sustained financial deepening is most likely to take place in institutional environments where governments effectively impose constraints on their own powers in order to create trust. This paper identifies over 200 post-1960 episodes of accelerations in financial development in a large cross-section of countries. We find that the likelihood of an acceleration leading to sustained financial development increases greatly in environments that have high-quality political institutions.
|
|
|
|
Order a print copy
|
|
Series: |
Working Paper No. 10/210 |
|
Subject(s): |
Credit expansion | Cross country analysis | Development | Economic growth | Financial systems | Governance | Political economy | Private sector |
|
|
|
|
| |
Published: |
|
September 1, 2010 |
|
|
|
|
| |
|
|
|
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA2010210 |
|
Pages: |
|
42 |
| |
Price: |
|
US$18.00 (Academic Rate: US$18.00 )
|
|
|
|
|
|
|
