The Recent Convergence of Financial Development in Asia

Autor:	Robert Dekle, Madhavi Pundit
Rok vydání:	2016
Předmět:	Strategic planning Financial inclusion jel:C82 Index (economics) 050208 finance 05 social sciences Financial structure Convergence (economics) Financial system Monetary economics Financial development jel:G01 Asian economies convergence to benchmark financial development index construction jel:G02 Gross domestic product 0502 economics and business Economics Per capita 050207 economics Volatility (finance) China General Economics Econometrics and Finance Finance
Zdroj:	Emerging Markets Finance and Trade. 52:1106-1120
ISSN:	1558-0938 1540-496X
Popis:	We construct an index of financial development for twenty-three Asian economies based on sub-indices of access, depth, and efficiency of financial institutions and markets and find evidence that economies with weaker financial systems are catching up to the Asian benchmark economies, namely Hong Kong, China; Japan; the Republic of Korea; and Singapore. Gross domestic product (GDP) per capita, aggregate GDP, and mobile subscriptions all increase the growth rate of financial development in Asian economies while institutional factors have insignificant or ambiguous effects. We also evaluate the relative importance of the sub-indices in delivering high economic growth, low volatility, and greater financial access.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::99e3037f729bf6699f223f27eff2de99 https://doi.org/10.1080/1540496x.2015.1103142 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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