Too cold, too hot, or just right? : assessing financial sector development across the globe /

Too cold, too hot, or just right? : assessing financial sector development across the globe /

Saved in:

Bibliographic Details
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2013.
Description:	1 online resource (30 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/13/81 IMF working paper ; WP/13/81.
Subject:	Finance -- Government policy -- Econometric models. Financial institutions -- Government policy -- Econometric models. Monetary policy -- Econometric models. Business cycles -- Econometric models. Business cycles -- Econometric models. Monetary policy -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12501654

Hidden Bibliographic Details
Other authors / contributors:	Barajas, Adolfo, author. International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
ISBN:	9781484320822 1484320824 9781484351086 1484351088 9781484329566 1484329562
Notes:	Title from PDF title page (IMF Web site, viewed Apr. 2, 2013). "Strategy, Policy, and Review Department"--Page 2 of pdf. "March 2013"--Page 2 of pdf. Includes bibliographical references (pages 28-29).
Summary:	"This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and macroeconomic factors that impact financial system deepening. We operationalize this framework using a benchmarking exercise, which relates the difference between the actual level of financial development and the level predicted by structural characteristics, to an array of policy variables. We also show that an overshooting of the financial system significantly beyond levels predicted by its structural fundamentals is associated with credit booms and busts"--Page 2 of pdf.

Description
Summary:	This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and macroeconomic factors that impact financial system deepening. We operationalize this framework using a benchmarking exercise, which relates the difference between the actual level of financial development and the level predicted by structural characteristics, to an array of policy variables. We also show that an overshooting of the financial system significantly beyond levels predicted by its structural fundamentals is associated with credit booms and busts.
Item Description:	Title from PDF title page (IMF Web site, viewed Apr. 2, 2013). "Strategy, Policy, and Review Department"--Page 2 of pdf. "March 2013"--Page 2 of pdf.
Physical Description:	1 online resource (30 pages) : color illustrations
Bibliography:	Includes bibliographical references (pages 28-29).
ISBN:	9781484320822 1484320824 9781484351086 1484351088 9781484329566 1484329562