Introducing A New Broad Based Index Of Financial Development
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Introducing a New Broad-based Index of Financial Development
Author: Katsiaryna Svirydzenka
language: en
Publisher: International Monetary Fund
Release Date: 2016-01-12
There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers.
The Promise of Fintech
Author: Ms.Ratna Sahay
language: en
Publisher: International Monetary Fund
Release Date: 2020-07-01
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
Handbook of Microfinance, Financial Inclusion and Development
Author: Valentina Hartarska
language: en
Publisher: Edward Elgar Publishing
Release Date: 2023-02-14
This timely Handbook collates a range of evidence from top scholars in the field to help readers understand who microfinance reaches, how it helps, and why clients come back. It offers updated views on important concepts that enable a broader framework for understanding poverty and the corresponding financial needs of poor households.