Bericht
Domestic Financial Development in Emerging Economies: Evidence and Implications
We construct, on the basis of an original methodology and database, composite indices to measure domestic financial development in 26 emerging economies, using mature economies as a benchmark. Twenty-two variables are used and grouped according to three broad dimensions: (i) institutions and regulations; (ii) size of and access to financial markets and (iii) market performance. This new evidence aims to fill a gap in the economic literature, which has not thus far developed comparable time series including both emerging and mature economies. In doing so, we provide a quantitative measure of the – usually considerable – scope for the selected emerging countries and regions to “catch up” in financial terms. Moreover, we find evidence that a process of financial convergence towards mature economies has already started in certain emerging economies. Finally, we conduct an econometric analysis showing that different levels of domestic financial development tend to be associated with the building up of external imbalances across countries.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Occasional Paper ; No. 102
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Investment; Capital; Intangible Capital; Capacity
Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
Financial Institutions and Services: General
- Thema
-
Financial development
index construction
commodity and oil-exporting countries
major emerging economies
financial catching up
global imbalances.
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Dorrucci, Ettore
Meyer-Cirkel, Alexis
Santabárbara, Daniel
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Bericht
Beteiligte
- Dorrucci, Ettore
- Meyer-Cirkel, Alexis
- Santabárbara, Daniel
- European Central Bank (ECB)
Entstanden
- 2009
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