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  • 1
    Online-Ressource
    Online-Ressource
    Bank Competition And Financial Stability : Friends Or Foes? (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (32 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Bank Competition And Financial Stability
    Schlagwort(e): Access to Finance ; Bank ; Banking ; Banking crises ; Banking sector ; Banking system ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Financial stability ; Governments ; Labor Policies ; Markets ; Private Sector Development ; Social Protections and Labor ; Access to Finance ; Bank ; Banking ; Banking crises ; Banking sector ; Banking system ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Financial stability ; Governments ; Labor Policies ; Markets ; Private Sector Development ; Social Protections and Labor ; Access to Finance ; Bank ; Banking ; Banking crises ; Banking sector ; Banking system ; Banks and Banking Reform ; Debt Markets ; Deposit Insurance ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Financial stability ; Governments ; Labor Policies ; Markets ; Private Sector Development ; Social Protections and Labor
    Kurzfassung: Theory makes ambiguous predictions about the relationship between market structure and competitiveness of the banking system and banking sector stability. Empirical studies focusing on individual countries provide similarly ambiguous results, while cross-country studies point mostly to a positive relationship between competition and stability in the banking system. Where liberalization and unfettered competition have resulted in fragility, this has been mostly the consequence of regulatory and supervisory failures. The advantages of competition for an efficient and inclusive financial system are strong, and regulatory and supervisory policies should focus on an incentive-compatible environment for banking rather than try to fine-tune market structure or the degree of competition
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 2
    Online-Ressource
    Online-Ressource
    Who Gets The Credit? : And Does It Matter? (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (41 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Who Gets The Credit?
    Schlagwort(e): Access to Finance ; Bank ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Credit ; Debt Markets ; Economic Theory and Research ; Enterprise ; Enterprise credit ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial systems ; Household ; Households ; Macroeconomics and Economic Growth ; Regulatory policies ; Access to Finance ; Bank ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Credit ; Debt Markets ; Economic Theory and Research ; Enterprise ; Enterprise credit ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial systems ; Household ; Households ; Macroeconomics and Economic Growth ; Regulatory policies ; Access to Finance ; Bank ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Credit ; Debt Markets ; Economic Theory and Research ; Enterprise ; Enterprise credit ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Financial systems ; Household ; Households ; Macroeconomics and Economic Growth ; Regulatory policies
    Kurzfassung: While the theoretical and empirical finance literature has focused almost exclusively on enterprise credit, about half of credit extended by banks to the private sector in a sample of 45 developing and developed countries is to households. The share of household credit in total credit increases as countries grow richer and financial systems develop. Cross-country regressions, however, suggest a positive and significant impact on gross domestic product per capita growth only of enterprise but not household credit. These two findings together partly explain why previous studies have found a small or insignificant effect of finance on growth in high-income countries. In addition, countries with a lower share of manufacturing, a higher degree of urbanization, and more market-oriented financial systems have a higher share of household credit. It is thus mostly socio-economic trends that determine credit composition, while policies influencing banking market structure and regulatory policies are not robustly related to credit composition
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  • 3
    Online-Ressource
    Online-Ressource
    Foreign Bank Acquisitions And Outreach : Evidence From Mexico (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (43 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Foreign Bank Acquisitions And Outreach
    Schlagwort(e): Access to Finance ; Bank Acquisitions ; Banking Sector ; Banking Sector Development ; Banking Services ; Banking Stability ; Banks ; Banks and Banking Reform ; Corporate Law ; Debt Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Foreign Banks ; Law and Development ; Municipalities ; Access to Finance ; Bank Acquisitions ; Banking Sector ; Banking Sector Development ; Banking Services ; Banking Stability ; Banks ; Banks and Banking Reform ; Corporate Law ; Debt Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Foreign Banks ; Law and Development ; Municipalities ; Access to Finance ; Bank Acquisitions ; Banking Sector ; Banking Sector Development ; Banking Services ; Banking Stability ; Banks ; Banks and Banking Reform ; Corporate Law ; Debt Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Foreign Banks ; Law and Development ; Municipalities
    Kurzfassung: Between 1995 and 2005, foreign bank participation in Mexico rose from 2 percent of bank assets to 83 percent, as the top five largest banks were acquired by foreigners. This paper examines the link between foreign bank acquisitions and banking outreach. Using quarterly country, bank, and bank-municipality-level data, the authors find some contrasting patterns. As foreign bank participation rose due to foreign acquisitions, the number of municipalities with bank presence increased but the number of loan and deposit accounts fell for the country as a whole and for banks after they became foreign. The drop in the number of loans, however, was partially off-set by an increase in domestic bank loans. Further, the decline in loan and deposit accounts was more pronounced in more rural and poorer areas. Finally, only very rich and urban areas experienced an increase in branches after foreign acquisition
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  • 4
    Online-Ressource
    Online-Ressource
    The Econometrics of Finance And Growth (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (45 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten The Econometrics of Finance And Growth
    Schlagwort(e): Access to Finance ; Debt Markets ; Economic Theory and Research ; Economic development ; Economic growth ; External finance ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial sector development ; Information asymmetries ; International Bank ; Macroeconomics and Economic Growth ; Payment services ; Poverty Reduction ; Pro-Poor Growth ; Science and Technology Development ; Statistical and Mathematical Sciences ; Transaction costs ; Access to Finance ; Debt Markets ; Economic Theory and Research ; Economic development ; Economic growth ; External finance ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial sector development ; Information asymmetries ; International Bank ; Macroeconomics and Economic Growth ; Payment services ; Poverty Reduction ; Pro-Poor Growth ; Science and Technology Development ; Statistical and Mathematical Sciences ; Transaction costs ; Access to Finance ; Debt Markets ; Economic Theory and Research ; Economic development ; Economic growth ; External finance ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial sector development ; Information asymmetries ; International Bank ; Macroeconomics and Economic Growth ; Payment services ; Poverty Reduction ; Pro-Poor Growth ; Science and Technology Development ; Statistical and Mathematical Sciences ; Transaction costs
    Kurzfassung: This paper reviews different econometric methodologies to assess the relationship between financial development and growth. It illustrates the identification problem, which is at the center of the finance and growth literature, using the example of a simple Ordinary Least Squares estimation. It discusses cross-sectional and panel instrumental variable approaches to overcome the identification problem. It presents the time-series approach, which focuses on the forecast capacity of financial development for future growth rates, and differences-in-differences techniques that try to overcome the identification problem by assessing the differential effect of financial sector development across states with different policies or across industries with different needs for external finance. Finally, it discusses firm-level and household approaches that allow analysts to dig deeper into the channels and mechanisms through which financial development enhances growth and welfare, but pose their own methodological challenges
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  • 5
    Online-Ressource
    Online-Ressource
    Benchmarking Financial Development (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (47 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Benchmarking Financial Development
    Schlagwort(e): Access to Finance ; Bond ; Bond market ; Debt Markets ; Economic Theory & Research ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial markets ; Financial system ; Financial systems ; International bank ; Private Sector Development ; Returns ; Access to Finance ; Bond ; Bond market ; Debt Markets ; Economic Theory & Research ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial markets ; Financial system ; Financial systems ; International bank ; Private Sector Development ; Returns ; Access to Finance ; Bond ; Bond market ; Debt Markets ; Economic Theory & Research ; Economic development ; Emerging Markets ; Finance and Financial Sector Development ; Financial development ; Financial institutions ; Financial markets ; Financial system ; Financial systems ; International bank ; Private Sector Development ; Returns
    Kurzfassung: Capitalizing on recent improvements in the availability of cross-country financial sector data, this paper proposes a standard methodology for benchmarking the policy component of financial development. Systematic controls are introduced to isolate main structural country characteristics and a principal components analysis is used to help identify a parsimonious set of ten "core" outcome indicators from a broader set of twenty seven potential indicators covering different dimensions of development in both financial institutions and financial markets. Such a broad-based approach helps reveal important determinants and regularities of the process of financial development. The paper also identifies some of the main data gaps that will need to be filled to allow further progress in financial benchmarking looking forward
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  • 6
    Online-Ressource
    Online-Ressource
    The Typology of Partial Credit Guarantee Funds Around The World (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (38 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten The Typology of Partial Credit Guarantee Funds Around The World
    Schlagwort(e): Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Borrower ; Credit guarantee ; Debt Markets ; Deposit Insurance ; Finance and Financial Sector Development ; Financial support ; Financing obstacles ; Guarantee schemes ; International bank ; Microfinance ; Partial credit ; Risk management ; Risk-based pricing ; Transaction costs ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Borrower ; Credit guarantee ; Debt Markets ; Deposit Insurance ; Finance and Financial Sector Development ; Financial support ; Financing obstacles ; Guarantee schemes ; International bank ; Microfinance ; Partial credit ; Risk management ; Risk-based pricing ; Transaction costs ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Borrower ; Credit guarantee ; Debt Markets ; Deposit Insurance ; Finance and Financial Sector Development ; Financial support ; Financing obstacles ; Guarantee schemes ; International bank ; Microfinance ; Partial credit ; Risk management ; Risk-based pricing ; Transaction costs
    Kurzfassung: This paper presents data on 76 partial credit guarantee schemes across 46 developed and developing countries. Based on theory, the authors discuss different organizational features of credit guarantee schemes and their variation across countries. They focus on the respective role of government and the private sector and different pricing and risk reduction tools and how they are correlated across countries. The findings show that government has an important role to play in funding and management, but less so in risk assessment and recovery. There is a surprisingly low use of risk-based pricing and limited use of risk management mechanisms
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  • 7
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    Bank Financing For SMEs Around The World : Drivers, Obstacles, Business Models, And Lending Practices (2008)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (43 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Bank Financing For SMEs Around The World
    Schlagwort(e): Access to Finance ; Banks ; Banks and Banking Reform ; Debt Markets ; Employment ; Factoring ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Interest rates ; Nonperforming loans ; Profitability ; Prudential regulations ; Risk management ; Small banks ; Access to Finance ; Banks ; Banks and Banking Reform ; Debt Markets ; Employment ; Factoring ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Interest rates ; Nonperforming loans ; Profitability ; Prudential regulations ; Risk management ; Small banks ; Access to Finance ; Banks ; Banks and Banking Reform ; Debt Markets ; Employment ; Factoring ; Finance and Financial Sector Development ; Financial Intermediation ; Financial institutions ; Interest rates ; Nonperforming loans ; Profitability ; Prudential regulations ; Risk management ; Small banks
    Kurzfassung: Using data from a survey of 91 banks in 45 countries, the authors characterize bank financing to small and medium enterprises (SMEs) around the world. They find that banks perceive the SME segment to be highly profitable, but perceive macroeconomic instability in developing countries and competition in developed countries as the main obstacles. To serve SMEs banks have set up dedicated departments and decentralized the sale of products to the branches. However, loan approval, risk management, and loan recovery functions remain centralized. Compared with large firms, banks are less exposed to small enterprises, charge them higher interest rates and fees, and experience more non-performing loans from lending to them. Although there are some differences in SMEs financing across government, private, and foreign-owned banks - with the latter being more likely to engage in arms-length lending - the most significant differences are found between banks in developed and developing countries. Banks in developing countries tend to be less exposed to SMEs, provide a lower share of investment loans, and charge higher fees and interest rates. Overall, the evidence suggests that the lending environment is more important than firm size or bank ownership type in shaping bank financing to SMEs
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  • 8
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    Online-Ressource
    The "How To" of Fiscal Sustainability : A Technical Manual For Using The Fiscal Sustainability Tool (2007)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (71 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Bandiera, Luca The "How To" of Fiscal Sustainability
    Schlagwort(e): Bank Policy ; Contingent Liabilities ; Currencies and Exchange Rates ; Debt ; Debt Data ; Debt Management ; Debt Markets ; Defic Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Inflation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Marke ; Private Sector Development ; Bank Policy ; Contingent Liabilities ; Currencies and Exchange Rates ; Debt ; Debt Data ; Debt Management ; Debt Markets ; Defic Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Inflation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Marke ; Private Sector Development ; Bank Policy ; Contingent Liabilities ; Currencies and Exchange Rates ; Debt ; Debt Data ; Debt Management ; Debt Markets ; Defic Developing Countries ; Economic Theory and Research ; Emerging Markets ; Exchange ; Exchange Rate ; External Debt ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Policy ; Inflation ; International Economics & Trade ; Macroeconomics and Economic Growth ; Marke ; Private Sector Development
    Kurzfassung: Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis for many developing countries. To further enhance understanding of fiscal policy and the constraints faced by policymakers, the authors develop a toolkit for FSA in middle-income countries which builds on previous work in this area and on new developments in dealing with uncertainty. The FSA toolkit includes an Excel-based FSA tool and a technical manual accompanying it. The FSA tool is standardized and simple, but at the same time flexible enough to allow for user-defined country-specifics. This manual provides step-by-step technical instructions for running the FSA tool and includes mathematical appendices and a glossary
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 9
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    Online-Ressource
    Nigeria's Growth Record : Dutch Disease Or Debt Overhang ? (2007)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (32 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: van Wijnbergen, Sweder Nigeria's Growth Record
    Schlagwort(e): Access to Finance ; Bank Policy ; Commodity prices ; Debt ; Debt Markets ; Debt Overhang ; Economic Theory and Research ; Emerging Markets ; Expenditure ; Exporters ; Finance and Financial Sector Development ; Fiscal policies ; Government expenditure ; Macroeconomic policies ; Macroeconomics and Economic Growth ; Oil boom ; Private Sector Development ; Public Sector Expenditure Analysis and Management ; Access to Finance ; Bank Policy ; Commodity prices ; Debt ; Debt Markets ; Debt Overhang ; Economic Theory and Research ; Emerging Markets ; Expenditure ; Exporters ; Finance and Financial Sector Development ; Fiscal policies ; Government expenditure ; Macroeconomic policies ; Macroeconomics and Economic Growth ; Oil boom ; Private Sector Development ; Public Sector Expenditure Analysis and Management ; Access to Finance ; Bank Policy ; Commodity prices ; Debt ; Debt Markets ; Debt Overhang ; Economic Theory and Research ; Emerging Markets ; Expenditure ; Exporters ; Finance and Financial Sector Development ; Fiscal policies ; Government expenditure ; Macroeconomic policies ; Macroeconomics and Economic Growth ; Oil boom ; Private Sector Development ; Public Sector Expenditure Analysis and Management
    Kurzfassung: Nigeria's oil boom has not brought an end to perennial stagnation in the non-oil economy. Is this the unavoidable consequence of the resource boom or have misguided policies contributed? This paper indicates that the extreme volatility of expenditure rather than Dutch Disease effects are behind the disappointing non-oil growth record. Fiscal policies failed to smooth highly volatile oil income; on the contrary government expenditure was more volatile than oil income. The authors provide econometric evidence showing that volatility of expenditure was increased by debt overhang problems. Moreover, they also find evidence of voracity effects that exacerbated expenditure volatility prior to 1984
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  • 10
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    Online-Ressource
    Quantitative Approaches To Fiscal Sustainability Analysis : A New World Bank Tool Applied To Turkey (2007)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (41 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Budina, Nina Quantitative Approaches To Fiscal Sustainability Analysis
    Schlagwort(e): Balance of Payments ; Balance of Payments Crises ; Bank Policy ; Budget ; Business Cycle ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Management ; Debt Management Policies ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Deficits ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Expenditure Analysis and Management ; Balance of Payments ; Balance of Payments Crises ; Bank Policy ; Budget ; Business Cycle ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Management ; Debt Management Policies ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Deficits ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Expenditure Analysis and Management ; Balance of Payments ; Balance of Payments Crises ; Bank Policy ; Budget ; Business Cycle ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Management ; Debt Management Policies ; Debt Markets ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange ; External Debt ; Finance and Financial Sector Development ; Financial Literacy ; Fiscal Deficits ; International Economics & Trade ; Macroeconomics and Economic Growth ; Private Sector Development ; Public Sector Expenditure Analysis and Management
    Kurzfassung: Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis. The authors review various quantitative approaches to FSA with a major objective to bring these approaches together and to present a user-friendly tool for FSA that reflects modern developments. They combine a dynamic simulations approach with a simplified version of the steady-state consistency approach. They also incorporate two different methods to deal with uncertainty: user-defined stress tests and stochastic simulations. The tool goes further by evaluating the required fiscal adjustment as a consequence of the stochastic realizations of the exogenous variables. Furthermore, the fiscal sustainability tool incorporates an endogenous debt feedback rule for the primary surplus, a fiscal policy reaction function. Besides outlining the theoretical framework, the authors also present a case study for Turkey
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  • 11
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    Online-Ressource
    The Basic Analytics of Access To Financial Services (2006)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (58 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten The Basic Analytics of Access To Financial Services
    Schlagwort(e): Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development
    Kurzfassung: Access to financial services, or rather the lack thereof, is often indiscriminately decried as a problem in many developing countries. The authors argue that the "problem of access" should rather be analyzed by identifying different demand and supply constraints. They use the concept of an access possibilities frontier, drawn for a given set of state variables, to distinguish between cases where a financial system settles below the constrained optimum, cases where this constrained optimum is too low, and-in credit services-cases where the observed outcome is excessively high. They distinguish between payment and savings services and fixed intermediation costs, on the one hand, and lending services and different sources of credit risk, on the other hand. The authors include both supply and demand side frictions that can lead to lower access. The analysis helps identify bankable and banked population, the binding constraint to close the gap between the two, and policies to prudently expand the bankable population. This new conceptual framework can inform the debate on adequate policies to expand access to financial services and can serve as the basis for an informed measurement of access
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  • 12
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    Online-Ressource
    Bank Efficiency, Ownership, And Market Structure : Why Are Interest Spreads So High In Uganda ? (2006)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (39 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Bank Efficiency, Ownership, And Market Structure
    Schlagwort(e): Bank Policy ; Bank Spreads ; Banking System ; Banks and Banking Reform ; Bond ; Debt Markets ; Developing Countries ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Bank ; Foreign Bank Entry ; Foreign Banks ; Interest ; Interest Rate ; Interest Rate System ; Private Sector Development ; Bank Policy ; Bank Spreads ; Banking System ; Banks and Banking Reform ; Bond ; Debt Markets ; Developing Countries ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Bank ; Foreign Bank Entry ; Foreign Banks ; Interest ; Interest Rate ; Interest Rate System ; Private Sector Development ; Bank Policy ; Bank Spreads ; Banking System ; Banks and Banking Reform ; Bond ; Debt Markets ; Developing Countries ; Emerging Markets ; Exchange ; Finance and Financial Sector Development ; Financial Literacy ; Foreign Bank ; Foreign Bank Entry ; Foreign Banks ; Interest ; Interest Rate ; Interest Rate System ; Private Sector Development
    Kurzfassung: Using a unique bank-level data set on the Ugandan banking system during 1999-2005, the authors explore the factors behind consistently high interest rate spreads and margins. While foreign banks charge lower interest rate spreads, they do not find a robust and economically significant relationship between privatization, foreign bank entry, market structure, and banking efficiency. Similarly, macroeconomic variables can explain little of the over-time variation in bank spreads. Bank-level characteristics, on the other hand, such as bank size, operating costs, and composition of loan portfolio explain a large proportion of cross-bank, cross-time variation in spreads and margins. However, time-invariant bank-level fixed effects explain the largest part of bank variation in spreads and margins. Further, the authors find tentative evidence that banks targeting the low end of the market incur higher costs and therefore higher margins
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  • 13
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    Online-Ressource
    Banking Services For Everyone ? : Barriers To Bank Access And Use Around The World (2006)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (60 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Banking Services For Everyone ?
    Schlagwort(e): Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development ; Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development ; Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development
    Kurzfassung: Using information from 193 banks in 58 countries, the authors develop and analyze indicators of physical access, affordability, and eligibility barriers to deposit, loan, and payment services. They find substantial cross-country variation in barriers to banking and show that in many countries these barriers can potentially exclude a significant share of the population from using banking services. Correlations with bank- and country-level variables show that bank size and the availability of physical infrastructure are the most robust predictors of barriers. Further, the authors find evidence that in more competitive, open, and transparent economies, and in countries with better contractual and informational frameworks, banks impose lower barriers. Finally, though foreign banks seem to charge higher fees than other banks, in foreign dominated banking systems fees are lower and it is easier to open bank accounts and to apply for loans. On the other hand, in systems that are predominantly government-owned, customers pay lower fees but also face greater restrictions in terms of where to apply for loans and how long it takes to have applications processed. These findings have important implications for policy reforms to broaden access
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  • 14
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    Online-Ressource
    Determinants of Bulgarian Brady Bond Prices : An Empirical Assessment (2000)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (36 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Budina, Nina Determinants of Bulgarian Brady Bond Prices
    Schlagwort(e): Bond ; Bond Issues ; Bond Price ; Bond Prices ; Bonds ; Debt Management ; Debt Markets ; Debt Prices ; Debt Service ; Economic Theory and Research ; Emerging Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Support ; Foreign Debt ; Macroeconomic Stabilization ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Option ; Price Movement ; Private Sector Development ; Savings Bank ; Secondary Market ; Secondary Market Debt ; Secondary Market Price ; Bond ; Bond Issues ; Bond Price ; Bond Prices ; Bonds ; Debt Management ; Debt Markets ; Debt Prices ; Debt Service ; Economic Theory and Research ; Emerging Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Support ; Foreign Debt ; Macroeconomic Stabilization ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Option ; Price Movement ; Private Sector Development ; Savings Bank ; Secondary Market ; Secondary Market Debt ; Secondary Market Price ; Bond ; Bond Issues ; Bond Price ; Bond Prices ; Bonds ; Debt Management ; Debt Markets ; Debt Prices ; Debt Service ; Economic Theory and Research ; Emerging Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Literacy ; Financial Support ; Foreign Debt ; Macroeconomic Stabilization ; Macroeconomic Variables ; Macroeconomics and Economic Growth ; Market ; Markets and Market Access ; Option ; Price Movement ; Private Sector Development ; Savings Bank ; Secondary Market ; Secondary Market Debt ; Secondary Market Price
    Kurzfassung: Macroeconomic variables and changes in foreign reserves affect the secondary market price of Brady bonds in Bulgaria. So do changes in the external environment, including crises in other parts of the world. - To analyze the main determinants of secondary market prices of Bulgarian Brady bonds, Budina and Mantchev investigate to what extent fluctuations in domestic fundamentals affect the bonds' secondary market price. They also assess the extent to which external shocks affect the bonds' prices. They estimate the long-term relationship between domestic fundamentals and market prices of the bonds, using cointegration techniques. In the long run, they find that gross foreign reserves and exports had a positive effect on bond prices and the real exchange rate and Mexico's nominal exchange rate depreciation had a negative effect. In the short run, the Asian crisis had a negative impact, and Bulgaria's change in political regime and introduction of a currency board had a positive impact. Mexico's economic crisis in 1995 had contagion effects. The authors' empirical results confirm the view that the so-called fundamentals approach should be used to supplement the analysis of spillover effects for Bulgarian Brady bonds. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study transition economies. The authors may be contacted at nbudinaworldbank.org or tmantchev@hotmail.com
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 15
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    Online-Ressource
    Fiscal Deficits, Monetary Reform, and Inflation Stabilization in Romania (2000)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (38 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Budina, Nina Fiscal Deficits, Monetary Reform, and Inflation Stabilization in Romania
    Schlagwort(e): Banks and Banking Reform ; Budget ; Budget Deficits ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Defic Exchange ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange Rate ; Expenditure ; Finance and Financial Sector Development ; Fiscal Deficits ; Fiscal Policy ; Government Expenditures ; Inflation ; Macroeconomics and Economic Growth ; Monetary Policy ; Private Sector Development ; Public Debt ; Public Investment ; Public Sector Defic Revenues ; Tax ; Transition Economies ; Transition Economy ; Banks and Banking Reform ; Budget ; Budget Deficits ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Defic Exchange ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange Rate ; Expenditure ; Finance and Financial Sector Development ; Fiscal Deficits ; Fiscal Policy ; Government Expenditures ; Inflation ; Macroeconomics and Economic Growth ; Monetary Policy ; Private Sector Development ; Public Debt ; Public Investment ; Public Sector Defic Revenues ; Tax ; Transition Economies ; Transition Economy ; Banks and Banking Reform ; Budget ; Budget Deficits ; Central Bank ; Currencies and Exchange Rates ; Debt ; Debt Markets ; Defic Exchange ; Economic Stabilization ; Economic Theory and Research ; Emerging Markets ; Exchange Rate ; Expenditure ; Finance and Financial Sector Development ; Fiscal Deficits ; Fiscal Policy ; Government Expenditures ; Inflation ; Macroeconomics and Economic Growth ; Monetary Policy ; Private Sector Development ; Public Debt ; Public Investment ; Public Sector Defic Revenues ; Tax ; Transition Economies ; Transition Economy
    Kurzfassung: March 2000 - Fiscal problems are a key factor behind the inflation that has persisted in Eastern Europe since 1989. Deficits need to be cut back, but by how much for a given inflation target? A simple framework links debt, the deficit, and inflation to assess the fiscal stance of the Romanian economy. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since 1989. Deficits need to be cut back, but by how much for a given inflation target? Budina and van Wijnbergen develop a simple framework for debt, the deficit, and inflation to study the interactions between fiscal and monetary policy in Romania's economy. This framework can be used to 1) determine the financeable deficit and the required deficit reduction for a given rate of output growth, inflation rate, and target for debt-output ratios, and 2) to find the inflation rate for which no fiscal adjustment is needed. They use this framework to assess consistency between inflation, monetary reform, and fiscal policy in Romania. Many of the issues in Romania are similar to those in other countries. But Romania is an interesting case because of its history of unsuccessful stabilization attempts. The authors' results suggest that fiscal problems during 1992-94 were masked by shifting government expenses to the books of the National Bank of Romania so that the government deficit did not fully reflect public spending. In addition, the effects of delayed fiscal adjustment were mitigated by exchange rate overvaluation and favorable debt dynamics. In the late 1990s, however, debt dynamics worsened and the economy experienced significant real depreciation. That exacerbated the fiscal problems and increased the fiscal adjustment needed to restore consistency. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study transition economies. The authors may be contacted at nbudinaworldbank.org or svw.heas@wxs.nl
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 16
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    A New Database on Financial Development and Structure (1999)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (67 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Levine, Ross A New Database on Financial Development and Structure
    Schlagwort(e): Bank ; Banks and Banking Reform ; Bond ; Bond Markets ; Commercial Banks ; Corporate Law ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance ; Finance and Financial Sector Development ; Financial Crises ; Financial Institutions ; Financial Intermediaries ; Financial Literacy ; Financial Sector ; Financial Systems ; Insurance ; Insurance Companies ; Law and Development ; Money ; Non Bank Financial Institutions ; Ownership ; Pension ; Pension Funds ; Private Sector Development ; Stock ; Stock Market ; Bank ; Banks and Banking Reform ; Bond ; Bond Markets ; Commercial Banks ; Corporate Law ; Debt Markets ; Emerging Markets ; Equity ; Equity Markets ; Finance ; Finance and Financial Sector Development ; Financial Crises ; Financial Institutions ; Financial Intermediaries ; Financial Literacy ; Financial Sector ; Financial Systems ; Insurance ; Insurance Companies ; Law and Development ; Money ; Non Bank Financial Institutions ; Ownership ; Pension ; Pension Funds ; Private Sector Development ; Stock ; Stock Market
    Kurzfassung: July 1999 - 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. Beck, Demirgüç-Kunt, and Levine introduce a new database of indicators of financial development and structure across countries and over time. This database is unique in that it unites a variety of indicators that measure the size, activity, and efficiency of financial intermediaries and markets. It improves on previous efforts by presenting data on the public share of commercial banks, by introducing indicators of the size and activity of nonbank financial institutions, and by presenting measures of the size of bond and primary equity markets. The compiled data permit the construction of financial structure indicators to measure whether, for example, a country's banks are larger, more active, and more efficient than its stock markets. These indicators can then be used to investigate the empirical link between the legal, regulatory, and policy environment and indicators of financial structure. They can also be used to analyze the implications of financial structure for economic growth. Beck, Demirgüç-Kunt, and Levine describe the sources and construction of, and the intuition behind, different indicators and present descriptive statistics. This paper - a product of Finance, Development Research Group - is part of a broader effort in the group to understand the determinants of financial structure and its importance to economic development. The authors may be contacted at tbeckworldbank.org, ademirguckunt@worldbank.org, or rlevine@csom.umn.edu
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 17
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    Liquidity Constraints and Investment in Transition Economies : The Case of Bulgaria (1999)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (30 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Budina, Nina Liquidity Constraints and Investment in Transition Economies
    Schlagwort(e): Banks and Banking Reform ; Budget ; Budget Constraints ; Capital Markets ; Cash Flow ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Financial Market ; Financial Structure ; Financial System ; Financial Weakness ; Investment ; Investment Function ; Investment Projects ; Liquidity ; Liquidity Constraints ; Macroeconomics and Economic Growth ; Market ; Market Economies ; Market Economy ; Private Sector Development ; Transition Economies ; Banks and Banking Reform ; Budget ; Budget Constraints ; Capital Markets ; Cash Flow ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Crisis ; Financial Institutions ; Financial Intermediation ; Financial Literacy ; Financial Market ; Financial Structure ; Financial System ; Financial Weakness ; Investment ; Investment Function ; Investment Projects ; Liquidity ; Liquidity Constraints ; Macroeconomics and Economic Growth ; Market ; Market Economies ; Market Economy ; Private Sector Development ; Transition Economies
    Kurzfassung: January 2000 - In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness. Budina, Garretsen, and de Jong use firm level data on Bulgaria to investigate the impact of liquidity constraints on firms' investment performance. Internal funds are an important determinant of investment in most industrial economies. The authors use a simple accelerator model of investment to test whether liquidity constraints are relevant in Bulgaria's case. Their estimates are based on data for 1993-95, before Bulgaria's financial crisis of 1996-97. It turns out that Bulgarian firms are liquidity-constrained and that firms' size and financial structure help to distinguish between firms that are more and less liquidity-constrained. In the authors' view, liquidity constraints in transition economies should be interpreted in different ways than those in industrial economies. In Bulgaria, liquidity constraints and hence access to external funds should be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. The relationship between liquidity constraints and firm characteristics may actually be the opposite of what is normally the case in industrial countries. In Bulgaria, lack of liquidity constraints may be a sign of financial weakness. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study transition economies. The authors may be contacted at nbudinaworldbank.org, h.garretsen@bw.kun.nl or e.dejong@bw.kun.nl
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 18
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    New Firm Formation and Industry Growth : Does Having a Market- or Bank-Based System Matter? (1999)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (50 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Levine, Ross New Firm Formation and Industry Growth
    Schlagwort(e): Banks and Banking Reform ; Debt Markets ; Economic Development ; Emerging Markets ; External Finance ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Financial Structure ; Financial System ; Financial Systems ; Individual Investors ; Legal Protection ; Liquid Market ; Market ; Market Development ; Market Liquidity ; Markets ; Outside Investors ; Private Sector Development ; Public Markets ; Shareholders ; Shares ; Stock ; Transaction ; Transaction Costs ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Emerging Markets ; External Finance ; Finance and Financial Sector Development ; Financial Development ; Financial Literacy ; Financial Structure ; Financial System ; Financial Systems ; Individual Investors ; Legal Protection ; Liquid Market ; Market ; Market Development ; Market Liquidity ; Markets ; Outside Investors ; Private Sector Development ; Public Markets ; Shareholders ; Shares ; Stock ; Transaction ; Transaction Costs
    Kurzfassung: June 2000 - Do industries that depend heavily on external finance grow faster in market-based or bank-based financial systems? Are new firms more likely to form in a bank-based or a market-based financial system? Beck and Levine find no evidence for the superiority of either market-based or bank-based financial systems for industries dependent on external financing. But they find overwhelming evidence that industries heavily dependent on external finance grow faster in economies with higher levels of financial development and with better legal protection for outside investors - including strong creditor and shareholder rights and strong contract enforcement mechanisms. Financial development also stimulates the establishment of new firms, which is consistent with the Schumpeterian view of creative destruction. Financial development matters. That the financial system is bank-based or market-based offers little additional information. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to understand the link between financial development and economic growth. The authors may be contacted at tbeckworldbank.org or rlevine@csom.umn.edu
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 19
    Online-Ressource
    Online-Ressource
    Impediments to the Development and Efficiency of Financial Intermediation in Brazil (1999)
    Washington, D.C : The World Bank
    Details
    Sprache: Englisch
    Seiten: Online-Ressource (1 online resource (20 p.))
    Ausgabe: Online-Ausg. World Bank E-Library Archive
    Paralleltitel: Beck, Thorsten Impediments to the Development and Efficiency of Financial Intermediation in Brazil
    Schlagwort(e): Accounting ; Accounting Standards ; Banks and Banking Reform ; Bond Markets ; Borrowers ; Contract ; Contract Enforcement ; Credit Information ; Credit Information Systems ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforceability ; Enforceability Of Contracts ; Enforcement Of Contracts ; Finance and Financial Sector Development ; Financial Development ; Financial Institutions ; Financial Literacy ; Interest ; Liabilities ; Macroeconomics and Economic Growth ; Private Bond ; Private Sector Development ; Regulatory Framework ; Stock ; Stock Markets ; Unsecured Creditors ; Accounting ; Accounting Standards ; Banks and Banking Reform ; Bond Markets ; Borrowers ; Contract ; Contract Enforcement ; Credit Information ; Credit Information Systems ; Debt Markets ; Economic Theory and Research ; Emerging Markets ; Enforceability ; Enforceability Of Contracts ; Enforcement Of Contracts ; Finance and Financial Sector Development ; Financial Development ; Financial Institutions ; Financial Literacy ; Interest ; Liabilities ; Macroeconomics and Economic Growth ; Private Bond ; Private Sector Development ; Regulatory Framework ; Stock ; Stock Markets ; Unsecured Creditors
    Kurzfassung: June 2000 - To improve on the low level and low efficiency of Brazil's financial intermediation (and hence economic growth), Brazil needs reforms leading to a more efficient judicial sector, better enforcement of contracts, stronger rights for creditors, stronger accounting standards and practices, and a legal and regulatory framework that facilitates the exchange of information about borrowers. Reforms to improve both the level and the efficiency of financial intermediation in Brazil should be high on Brazilian policymakers' agendas, because of the financial sector's importance to economic growth. This means that Brazil must also improve the legal and regulatory environment in which its financial institutions operate. Brazil is weak in important components of such an environment: the rights of secured and unsecured creditors, the enforcement of contracts, and the sharing of credit information among intermediaries. Recent reforms, such as the extension of alienação fiduciaria to housing, the introduction of cédula de crédito bancario, the legal separation of principal and interest, and improvements in credit information systems, are useful steps in strengthening the framework. But more is needed. Reforms that will significantly increase the level and efficiency of financial intermediation and have a positive impact on economic growth include: · A more efficient judicial sector and better enforcement of contracts. · Stronger rights for secured and unsecured creditors. · Stronger accounting standards and practices, to improve the quality of information available about borrowers. · The development of a legal and regulatory framework that facilitates the exchange among financial institutions of both negative and positive information about borrowers. This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to better understand the link between financial development and economic growth, with application to Brazil. The author may be contacted at tbeckworldbank.org
    URL: Volltext  (Deutschlandweit zugänglich)
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