کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7342057 1476191 2014 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
What drives the development of the MENA financial sector?
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
What drives the development of the MENA financial sector?
چکیده انگلیسی
We explore a wide range of macroeconomic, fiscal and institutional factors in order to assess their relevance as determinants of financial development in MENA countries. A first interesting result is that bank and non-bank development are affected differently by the determinants under consideration. For example, growth does not promote banking activity; it promotes development of stock market liquidity. While we find that better institutions, in general, have a positive and significant effect on financial development, some institutional aspects matter more than others do. We also present evidence on the impact of macroeconomic factors, such as investment, inflation, savings, trade openness and financial liberalization, as key determinants of financial development in the MENA region, further reflecting a sharp contrast between bank and non-bank activity. Our results are robust to different specifications and different estimation techniques.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Borsa Istanbul Review - Volume 14, Issue 4, December 2014, Pages 212-223
نویسندگان
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