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Book Synopsis banking Sector Openness and Economic Growth by :
Download or read book banking Sector Openness and Economic Growth written by . This book was released on . Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nihal Bayraktar
Release : 2006
Genre : Acumulacion de capital
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Book Synopsis Banking Sector Openness and Economic Growth by : Nihal Bayraktar
Download or read book Banking Sector Openness and Economic Growth written by Nihal Bayraktar. This book was released on 2006. Available in PDF, EPUB and Kindle. Book excerpt: Banking sector openness may directly affect growth by improving the access to financial services and indirectly by improving the efficiency of financial intermediaries, both of which reduce the cost of financing, and in turn, stimulate capital accumulation and economic growth. The objective of the paper is to empirically reinvestigate these direct and indirect links using a more advanced econometric technique (GMM dynamic panel estimators). An illustrative model is presented to link financial market development with investment. The empirical results confirm the presence of direct and indirect links, and thus provide support for countries planning to open their banking sector for international competition.
Author : Zhiren Mao
Release : 2009
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Book Synopsis The Impact on Banking Sector Openness and Economic Growth----A Panel Data Study by : Zhiren Mao
Download or read book The Impact on Banking Sector Openness and Economic Growth----A Panel Data Study written by Zhiren Mao. This book was released on 2009. Available in PDF, EPUB and Kindle. Book excerpt: The current global financial crisis centres on the impact of banking sector openness on economies. The tradeoff of banking sector openness between the potential benefit (economic growth) and risk (economic volatility) sparks hot debates. This thesis addresses the question of whether there are sufficient economic reasons to support openness. Banking sector openness may directly and indirectly affect growth. Chapter II reinvestigates these direct and indirect links, using an advanced econometric technique (GMM dynamic panel estimators). The empirical results confirm the presence of direct and indirect links, and thus provide the backbone for countries planning to open their banking sector to international competition, especially developing countries. In Chapter III, we use parametric and non-parametric stochastic frontiers to measure banking sectors' cost efficiencies, and then use panel data methodology to reinvestigate the empirical relationship between bank efficiency and banking sector openness. Our results suggest the world banking industry becomes increasingly efficient with greater openness. Chapter IV studies the relationship between macroeconomic volatility and banking sector openness. We address several questions: can high levels of volatility be explained by the opening of the banking sector? Are the effects of banking sector openness in developing and developed countries different in a crisis compared with normal times? What is the effect of mis-match between banking sector openness and financial development? We find that the positive relationship between banking sector openness and economic volatility originates from the mismatch between banking sector openness and financial markets development. Banking sector openness in itself eases crisis volatility. Chapter V presents the main conclusions.
Author : Charles W. Calomiris
Release : 2007
Genre : Business & Economics
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Book Rating : 920/5 ( reviews)
Book Synopsis China's Financial Transition at a Crossroads by : Charles W. Calomiris
Download or read book China's Financial Transition at a Crossroads written by Charles W. Calomiris. This book was released on 2007. Available in PDF, EPUB and Kindle. Book excerpt: China's increasing role in global economic affairs has placed the country at a crossroads: how many and what types of international capital-market transactions will China permit? How will China's financial system change internally? What kind of relationships will the Chinese government develop with foreign financial institutions, especially with those based in the United States? Can China broker a sustainable partnership with America that will avoid sending economic shock waves throughout the world? Drawing on the contemporary research of prominent international scholars, the experts in this volume outline the trajectory of China's financial markets since the advent of reform and anticipate their uncertain future. Chapter authors and commentators include Geert Bekaert, Loren Brandt, Lee Branstetter, Mary Wadsworth Darby, Michael DeStefano, Barry Eichengreen, Campbell Harvey, Fred Hu, Xiaobo Lu, Christian Lundblad, Ailsa Roell, Daniel Rosen, Shang-Jin Wei, Jialin Yu, and Xiaodong Zhu. The book begins with an overview of the history of financial-sector development, regulation, and performance and then focuses on the banking sector, discussing the progress, challenges, and prospects of current sector reform. Subsequent chapters describe the role of foreign capital in China's development and analyze the changes in capital flows and controls over time; explore various explanations for China's composition of foreign-capital and foreign-exchange policies, particularly the factors shaping China's reliance on foreign direct investment; and provide an international, comparative perspective on the remarkable growth experience of China and the contribution of its institutional environment to that experience. Contributors dispute the belief that stock market listing has done little to reform state-owned enterprises and take a hard look at the exchange rate regime choice for China, considering the potential long-run desirability of flexibility and the appropriate sequencing of reforms in foreign-exchange policy, domestic banking reform, and capital-market openness. The book concludes with a roundtable discussion in which prominent economists, including Peter Garber, Robert Hodrick, John Makin, David Malpass, Frederic Mishkin, and Eswar Prasad, debate the pace of the appreciation of China's currency and the likely consequences of that policy within and outside of China.
Author : Mona Haddad
Release : 2011
Genre : Business & Economics
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Book Rating : 336/5 ( reviews)
Book Synopsis Managing Openness by : Mona Haddad
Download or read book Managing Openness written by Mona Haddad. This book was released on 2011. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis triggered a broad reassessment of economic integration policies in developed and developing countries worldwide. The crisis-induced collapse in trade was the sharpest ever since World War II, affecting all countries and all product categories. A huge shock to the trading system, combined with severe macroeconomic instability, makes it natural for policymakers to call into question the basic underlying assumptions of trade liberalization and openness. In particular, outward-oriented or export-led growth strategies are being reassessed as openness is increasingly associated with greater volatility. However, it is crucial not to lose sight of the dynamic benefits that openness can offer. Examples include technology transfer, increased competitive pressure that reduces markups and improves efficiency, and economies of scale. The real question is how to manage outward-oriented strategies so as to maximize the benefits of openness while minimizing risks. This book aims to contribute to this important and ongoing policy debate, bringing together recent empirical work on the trade collapse, its causes and consequences, and the broader trade policy agenda in the post-crisis environment. It addresses critical policy issues revolving around the topic of outward-oriented growth strategy, including policy instruments that help manage risks associated with outward-orientation, lessons learned from the crisis for particular countries and regions, and how emerging trade policy issues such as climate change, commodities, global production networking, and migration affect the prospects for recovery and outward-oriented growth.
