World Bank Lending and Financial Sector Development
A new database of World Bank loans to support financial sector development is used to investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. Self-selection is accounted for with treatment-effects regressions. The results indicate that borrowing countries had significantly more rapid growth in M2/GDP than nonborrowers and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than nonborrowers in some treatment-effects regressions but not in standard panel regressions with fixed country effects. On the whole, the results indicate some significant advantages in financial development for borrowers over nonborrowers.
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Format: | Journal Article biblioteca |
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World Bank
2008-05-30
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Subjects: | bank lending, bank loans, borrowers, borrowing, financial development, financial sector development, interest, interest rate, private credit, |
Online Access: | http://hdl.handle.net/10986/4482 |
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dig-okr-1098644822021-04-23T14:02:18Z World Bank Lending and Financial Sector Development Cull, Robert Effron, Laurie bank lending bank loans borrowers borrowing financial development financial sector development interest interest rate private credit A new database of World Bank loans to support financial sector development is used to investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. Self-selection is accounted for with treatment-effects regressions. The results indicate that borrowing countries had significantly more rapid growth in M2/GDP than nonborrowers and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than nonborrowers in some treatment-effects regressions but not in standard panel regressions with fixed country effects. On the whole, the results indicate some significant advantages in financial development for borrowers over nonborrowers. 2012-03-30T07:12:37Z 2012-03-30T07:12:37Z 2008-05-30 Journal Article World Bank Economic Review 1564-698X http://hdl.handle.net/10986/4482 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank World Bank Journal Article Nigeria Brazil Burkina Faso Bolivia Macedonia |
institution |
Banco Mundial |
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Estados Unidos |
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US |
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Bibliográfico |
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biblioteca |
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America del Norte |
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Biblioteca del Banco Mundial |
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bank lending bank loans borrowers borrowing financial development financial sector development interest interest rate private credit bank lending bank loans borrowers borrowing financial development financial sector development interest interest rate private credit |
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bank lending bank loans borrowers borrowing financial development financial sector development interest interest rate private credit bank lending bank loans borrowers borrowing financial development financial sector development interest interest rate private credit Cull, Robert Effron, Laurie World Bank Lending and Financial Sector Development |
description |
A new database of World Bank loans to support financial sector development is used to investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. Self-selection is accounted for with treatment-effects regressions. The results indicate that borrowing countries had significantly more rapid growth in M2/GDP than nonborrowers and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than nonborrowers in some treatment-effects regressions but not in standard panel regressions with fixed country effects. On the whole, the results indicate some significant advantages in financial development for borrowers over nonborrowers. |
format |
Journal Article |
topic_facet |
bank lending bank loans borrowers borrowing financial development financial sector development interest interest rate private credit |
author |
Cull, Robert Effron, Laurie |
author_facet |
Cull, Robert Effron, Laurie |
author_sort |
Cull, Robert |
title |
World Bank Lending and Financial Sector Development |
title_short |
World Bank Lending and Financial Sector Development |
title_full |
World Bank Lending and Financial Sector Development |
title_fullStr |
World Bank Lending and Financial Sector Development |
title_full_unstemmed |
World Bank Lending and Financial Sector Development |
title_sort |
world bank lending and financial sector development |
publisher |
World Bank |
publishDate |
2008-05-30 |
url |
http://hdl.handle.net/10986/4482 |
work_keys_str_mv |
AT cullrobert worldbanklendingandfinancialsectordevelopment AT effronlaurie worldbanklendingandfinancialsectordevelopment |
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1756571510097575936 |