Financial development, rule of law and wealth inequality: bayesian model averaging evidence
Gespeichert in:
| Beteiligte Personen: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Regensburg
Leibniz Institute for Eastern and Southeastern European Studies
September 2017
|
| Schriftenreihe: | IOS working papers
No. 368 |
| Links: | http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_368.pdf https://langzeitarchivierung.bib-bvb.de/delivery/action/cmsResolver.do?system=BVB01&id=BV044511020&startRecord=1 |
| Abstract: | We examine the determinants of financial development using our global sample and employing a rich set of measures of financial development that assess the degree of depth, access, stability and efficiency of financial intermediaries. We use Bayesian model averaging to test competing theories within this unifying framework. Examining nearly 40 potential determinants of financial development, we find that the rule of law and the level of economic development are the most important. Wealth inequality is irrelevant for banking sector development but positively associated with stock market development. Finally, our results suggest that financial market regulations matter for stock market efficiency and financial stability. |
| Umfang: | 1 Online-Ressource (v, 37 Seiten) Diagramme |
| Format: | kostenfrei |
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| illustrated | Not Illustrated |
| indexdate | 2024-12-20T18:04:46Z |
| institution | BVB |
| language | English |
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| spelling | Horváth, Roman Verfasser (DE-588)132057816 aut Financial development, rule of law and wealth inequality bayesian model averaging evidence Roman Horváth, Eva Horvatova, and Maria Siranova Regensburg Leibniz Institute for Eastern and Southeastern European Studies September 2017 1 Online-Ressource (v, 37 Seiten) Diagramme txt rdacontent c rdamedia cr rdacarrier IOS working papers No. 368 We examine the determinants of financial development using our global sample and employing a rich set of measures of financial development that assess the degree of depth, access, stability and efficiency of financial intermediaries. We use Bayesian model averaging to test competing theories within this unifying framework. Examining nearly 40 potential determinants of financial development, we find that the rule of law and the level of economic development are the most important. Wealth inequality is irrelevant for banking sector development but positively associated with stock market development. Finally, our results suggest that financial market regulations matter for stock market efficiency and financial stability. kostenfrei Langzeitarchivierung durch die Bayerische Staatsbibliothek Horvátová, Eva Verfasser (DE-588)171803132 aut Siranova, Maria Verfasser aut IOS working papers No. 368 (DE-604)BV040033175 368 http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_368.pdf Verlag kostenfrei https://langzeitarchivierung.bib-bvb.de/delivery/action/cmsResolver.do?system=BVB01&id=BV044511020&startRecord=1 Volltext // Ressource im BVB-Langzeitarchiv |
| spellingShingle | Horváth, Roman Horvátová, Eva Siranova, Maria Financial development, rule of law and wealth inequality bayesian model averaging evidence IOS working papers |
| title | Financial development, rule of law and wealth inequality bayesian model averaging evidence |
| title_auth | Financial development, rule of law and wealth inequality bayesian model averaging evidence |
| title_exact_search | Financial development, rule of law and wealth inequality bayesian model averaging evidence |
| title_full | Financial development, rule of law and wealth inequality bayesian model averaging evidence Roman Horváth, Eva Horvatova, and Maria Siranova |
| title_fullStr | Financial development, rule of law and wealth inequality bayesian model averaging evidence Roman Horváth, Eva Horvatova, and Maria Siranova |
| title_full_unstemmed | Financial development, rule of law and wealth inequality bayesian model averaging evidence Roman Horváth, Eva Horvatova, and Maria Siranova |
| title_short | Financial development, rule of law and wealth inequality |
| title_sort | financial development rule of law and wealth inequality bayesian model averaging evidence |
| title_sub | bayesian model averaging evidence |
| url | http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_368.pdf https://langzeitarchivierung.bib-bvb.de/delivery/action/cmsResolver.do?system=BVB01&id=BV044511020&startRecord=1 |
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