The Experts below are selected from a list of 304014 Experts worldwide ranked by ideXlab platform
Martin Melecky - One of the best experts on this subject based on the ideXlab platform.
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Financial Sector strategies and Financial Sector outcomes: Do the strategies perform?
Economic Systems, 2020Co-Authors: Martin Melecky, Anca Maria PodpieraAbstract:Financial Sector strategies enable Financial policy makers and stakeholders to take a holistic view of the Financial development needs in their country and formulate balanced Financial policies. They help policy makers consider the systemic risk that different development policies involve and choose an informed way forward. This study constructed a new data set of historical Financial Sector strategies covering 150 countries over 1985-2014. It assesses the strategies using the rating criteria proposed by Maimbo and Melecky (2014). It further investigates how the quality of the strategies can affect Financial Sector outcomes, such as Financial depth, inclusion, efficiency, and stability. The investigation finds that the use of Financial Sector strategies helped increase Financial Sector deepening, inclusion, and stability, and this impact could be greater for higher-quality strategies. However, a significant relationship between the use of strategies and the efficiency of banks is not confirmed. One way how Financial Sector strategies can improve Financial Sector outcomes is by improving the regulatory framework for finance.
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Financial Sector Policy in Practice: Benchmarking Financial Sector Strategies around the World - Financial Sector policy in practice : benchmarking Financial Sector strategies around the world
Emerging Markets Finance and Trade, 2014Co-Authors: Samuel Munzele Maimbo, Martin MeleckyAbstract:Policy makers use Financial Sector strategies to formulate a holistic policy for their national Financial Sectors. This paper examines and rates Financial Sector strategies around the world based on how well they formulate development targets, arrangements for systemic risk management, and implementation plans. The strategies are also rated on whether they consider policy trade-offs between Financial development and systemic risk management. The rated strategies are then benchmarked against a wide range of country characteristics. The analysis finds that the scope and quality of national strategies for the Financial Sector are influenced by the country's type of legal system, its level of income and macroeconomic stability, the existing Financial depth and inclusion, the share of foreign ownership in the national Financial Sector, and the experience of past Financial crises. Giving due consideration to policy trade-offs, particularly between Financial development and systemic risk management, remains the weakest part of these strategies. Countries with civil- and religious-based law and those with a higher share of foreign ownership in their Financial system address the policy trade-offs more often.
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Financial Sector Policy in Practice: Benchmarking Financial Sector Strategies Around the World
2014Co-Authors: Samuel Munzele Maimbo, Martin MeleckyAbstract:Policy makers use Financial Sector strategies to formulate a holistic policy for their national Financial Sectors. This paper examines and rates Financial Sector strategies around the world based on how well they formulate development targets, arrangements for systemic risk management, and implementation plans. The strategies are also rated on whether they consider policy trade-offs between Financial development and systemic risk management. The rated strategies are then benchmarked against a wide range of country characteristics. The analysis finds that the scope and quality of national strategies for the Financial Sector are influenced by the country's type of legal system, its level of income and macroeconomic stability, the existing Financial depth and inclusion, the share of foreign ownership in the national Financial Sector, and the experience of past Financial crises. Giving due consideration to policy trade-offs, particularly between Financial development and systemic risk management, remains the weakest part of these strategies. Countries with civil- and religious-based law and those with a higher share of foreign ownership in their Financial system address the policy trade-offs more often.
Simplice A. Asongu - One of the best experts on this subject based on the ideXlab platform.
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Financial Sector Transparency and Net Interest Margins: Should the Private or Public Sector lead Financial Sector Transparency?
2020Co-Authors: Baah Aye Kusi, Elikplimi Komla Agbloyor, Agyapomaa Gyeke-dako, Simplice A. AsonguAbstract:This study examines the effect of private and public Sector led Financial Sector transparency on bank interest margins across eighty-six economies. Using a two-step dynamic system generalized method of moments, least square dummy variables, fixed effects and bootstrap quantile panel models between 2005 and 2016, the findings of the two-step GMM are reported as follows. First, results reveal that Financial Sector transparency whether led by private or public Sector reduces interest margins. Second, while no statistical evidence was found on which of the two (private or public Sector led transparency) is more effective in dealing with bank interest margins, public Sector-led Financial transparency is found to be more consistent in reducing bank interest margins across many more economies. Third, the study shows that the effect of Financial Sector transparency is visible at lower and middle levels of bank interest margins implying that economies with lower and moderately high bank interest margin level can benefit more from policies targeted at improving transparency in the Financial Sector. These findings imply that the sampled countries must enact policies and laws that deepen and expand Financial Sector transparency in order to potentially reduce bank interest margins for the good of banking market participants and society at large.
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The Mobile Phone, Information Sharing, and Financial Sector Development in Africa: a Quantile Regression Approach
Journal of the Knowledge Economy, 2019Co-Authors: Simplice A. Asongu, Nicholas M. OdhiamboAbstract:This study investigates linkages between the mobile phone, information sharing offices (ISO), and Financial Sector development in 53 African countries for the period 2004–2011. ISO are private credit bureaus and public credit registries. The empirical evidence is based on contemporary and non-contemporary quantile regressions. Two main hypotheses are tested: mobile phones complement ISO to enhance the formal Financial Sector ( hypothesis 1 ) and mobile phones complement ISO to reduce the informal Financial Sector ( hypothesis 2 ). The hypotheses are largely confirmed. This research adds to the existing body of literature by engaging hitherto unexplored dimensions of Financial Sector development and investigating the role of mobile phones in information sharing for Financial Sector development.
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ICT IN REDUCING INFORMATION ASYMMMETRY FOR Financial Sector COMPETITION
2018Co-Authors: Simplice A. Asongu, Joseph NnannaAbstract:In this study, we examine the role of information and communication technology in complementing information sharing bureaus (or private credit bureaus and public credit registries) for Financial Sector competition. Hitherto unexplored dimensions of Financial Sector competition are employed, namely: Financial Sector dynamics of formalization, informalization and non-formalization.
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information sharing and Financial Sector development in africa
Journal of African Business, 2017Co-Authors: Vanessa Tchamyou, Simplice A. AsonguAbstract:This study investigates the effect information sharing has on Financial Sector development in 53 African countries for the period 2004-2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of Financial Sector development are employed, namely: Financial Sector dynamics of formalization, informalization and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalised Method of Moments (GMM). The following findings are established. Information sharing bureaus increase (reduce) formal (informal/non-formal) Financial Sector development. In order to ensure that information sharing bureaus improve (decrease) formal (informal/non-formal) Financial development, public credit registries should have between 45.45 and 50 percent coverage while private credit bureaus should have at least 26.25 percent coverage.
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information sharing and Financial Sector development in africa
Journal of African Business, 2017Co-Authors: Vanessa Tchamyou, Simplice A. AsonguAbstract:ABSTRACTThis study investigates the effect information sharing has on Financial Sector development in 53 African countries for the period 2004 to 2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of Financial Sector development are employed, namely: Financial Sector dynamics of formalization, informalization, and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM). The following findings are established. Information-sharing bureaus increase (reduce) formal (informal/non-formal) Financial Sector development. In order to ensure that information-sharing bureaus improve (decrease) formal (informal/non-formal) Financial development, public credit registries should have between 45.45 and 50% coverage while private credit bureaus should have at least 26.25% coverage.
Vanessa Tchamyou - One of the best experts on this subject based on the ideXlab platform.
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information sharing and Financial Sector development in africa
Journal of African Business, 2017Co-Authors: Vanessa Tchamyou, Simplice A. AsonguAbstract:This study investigates the effect information sharing has on Financial Sector development in 53 African countries for the period 2004-2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of Financial Sector development are employed, namely: Financial Sector dynamics of formalization, informalization and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalised Method of Moments (GMM). The following findings are established. Information sharing bureaus increase (reduce) formal (informal/non-formal) Financial Sector development. In order to ensure that information sharing bureaus improve (decrease) formal (informal/non-formal) Financial development, public credit registries should have between 45.45 and 50 percent coverage while private credit bureaus should have at least 26.25 percent coverage.
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information sharing and Financial Sector development in africa
Journal of African Business, 2017Co-Authors: Vanessa Tchamyou, Simplice A. AsonguAbstract:ABSTRACTThis study investigates the effect information sharing has on Financial Sector development in 53 African countries for the period 2004 to 2011. Information sharing is measured with private credit bureaus and public credit registries. Hitherto unexplored dimensions of Financial Sector development are employed, namely: Financial Sector dynamics of formalization, informalization, and non-formalization. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM). The following findings are established. Information-sharing bureaus increase (reduce) formal (informal/non-formal) Financial Sector development. In order to ensure that information-sharing bureaus improve (decrease) formal (informal/non-formal) Financial development, public credit registries should have between 45.45 and 50% coverage while private credit bureaus should have at least 26.25% coverage.
Samuel Munzele Maimbo - One of the best experts on this subject based on the ideXlab platform.
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Financial Sector Policy in Practice: Benchmarking Financial Sector Strategies around the World - Financial Sector policy in practice : benchmarking Financial Sector strategies around the world
Emerging Markets Finance and Trade, 2014Co-Authors: Samuel Munzele Maimbo, Martin MeleckyAbstract:Policy makers use Financial Sector strategies to formulate a holistic policy for their national Financial Sectors. This paper examines and rates Financial Sector strategies around the world based on how well they formulate development targets, arrangements for systemic risk management, and implementation plans. The strategies are also rated on whether they consider policy trade-offs between Financial development and systemic risk management. The rated strategies are then benchmarked against a wide range of country characteristics. The analysis finds that the scope and quality of national strategies for the Financial Sector are influenced by the country's type of legal system, its level of income and macroeconomic stability, the existing Financial depth and inclusion, the share of foreign ownership in the national Financial Sector, and the experience of past Financial crises. Giving due consideration to policy trade-offs, particularly between Financial development and systemic risk management, remains the weakest part of these strategies. Countries with civil- and religious-based law and those with a higher share of foreign ownership in their Financial system address the policy trade-offs more often.
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Financial Sector Policy in Practice: Benchmarking Financial Sector Strategies Around the World
2014Co-Authors: Samuel Munzele Maimbo, Martin MeleckyAbstract:Policy makers use Financial Sector strategies to formulate a holistic policy for their national Financial Sectors. This paper examines and rates Financial Sector strategies around the world based on how well they formulate development targets, arrangements for systemic risk management, and implementation plans. The strategies are also rated on whether they consider policy trade-offs between Financial development and systemic risk management. The rated strategies are then benchmarked against a wide range of country characteristics. The analysis finds that the scope and quality of national strategies for the Financial Sector are influenced by the country's type of legal system, its level of income and macroeconomic stability, the existing Financial depth and inclusion, the share of foreign ownership in the national Financial Sector, and the experience of past Financial crises. Giving due consideration to policy trade-offs, particularly between Financial development and systemic risk management, remains the weakest part of these strategies. Countries with civil- and religious-based law and those with a higher share of foreign ownership in their Financial system address the policy trade-offs more often.
Stephen G Cecchetti - One of the best experts on this subject based on the ideXlab platform.
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why does Financial Sector growth crowd out real economic growth
2015Co-Authors: Stephen G Cecchetti, Enisse KharroubiAbstract:In this paper we examine the negative relationship between the rate of growth of the Financial Sector and the rate of growth of total factor productivity. We begin by showing that by disproportionately benefiting high collateral/low productivity projects, an exogenous increase in finance reduces total factor productivity growth. Then, in a model with skilled workers and endogenous Financial Sector growth, we establish the possibility of multiple equilibria. In the equilibrium where skilled labour works in finance, the Financial Sector grows more quickly at the expense of the real economy. We go on to show that consistent with this theory, Financial growth disproportionately harms Financially dependent and R&D-intensive industries.
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why does Financial Sector growth crowd out real economic growth
2013Co-Authors: Stephen G Cecchetti, Enisse KharroubiAbstract:In this paper we examine the negative relationship between the rate of growth of finance and the rate of growth of total factor productivity. We begin by showing that by disproportionately benefiting highcollateral/low-productivity projects, an exogenous increase in finance reduces total factor productivity growth. Then, in a model with skilled workers and endogenous Financial Sector growth, we establish the possibility of multiple equilibria. In the equilibrium where skilled labour works in finance, the Financial Sector grows more quickly at the expense of the real economy. We go on to show that consistent with this theory, Financial growth disproportionately harms Financially dependent and R&D-intensive industries.
