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Financial Structures and Economic Outcomes [electronic resource] : An Empirical Analysis, Gole, Tom.

Author/Creator:
Gole, Tom.
Publication:
Washington, D.C. : International Monetary Fund, 2013.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 13/121.
IMF Working Papers; Working Paper No. 13/121
Format/Description:
Government document
Book
1 online resource (29 p.)
Local subjects:
Banking sector.
Bond.
Bonds.
Deposit rate.
Domestic financial system.
Financial dependence.
Financial economics.
Financial globalization.
Financial instability.
Financial institutions.
Financial intermediaries.
Financial intermediation.
Financial market.
Financial markets.
Financial policies.
Financial sector.
Financial sector development.
Financial services.
Financial stability.
Financial systems.
Globalization. -- Finance
Government Policy and Regulation.
International banks.
International finance.
Models with Panel Data.
Money market mutual funds.
Stock market.
Stock markets.
Japan.
Summary:
This paper investigates the potential relationships between financial structures and economic outcomes. The empirical results that withstand a battery of methods suggest that some financial intermediation structures are likely to be more closely related to positive economic outcomes than others. For instance, protective financial buffers within institutions have been associated with better economic performance, and a domestic financial system that is dominated by some types of nontraditional bank intermediation or that has a high proportion of foreign banks has in some cases been associated with adverse economic outcomes, especially during the financial crisis. The results also suggest that there may be trade-offs between beneficial effects on growth and stability of some financial structures. For example, the positive association of financial buffers with growth can diminish above a certain, relatively high, threshold—a too-safe system may limit the available funds for credit and hence growth.
Notes:
Description based on print version record.
Contributor:
Gole, Tom.
Sun, Tao.
Other format:
Print Version:
ISBN:
1484335422:
9781484335420
ISSN:
1018-5941
Publisher Number:
10.5089/9781484335420.001
Access Restriction:
Restricted for use by site license.
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