Rethinking Financial Deepening : Stability and Growth in Emerging Markets /

The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from...

Mô tả đầy đủ

Chi tiết về thư mục
Tác giả chính: Sahay, Ratna
Tác giả khác: Barajas, Adolfo, Cihak, Martin, N'Diaye, Papa
Định dạng: Tạp chí
Ngôn ngữ:English
Được phát hành: Washington, D.C. : International Monetary Fund, 2015.
Truy cập trực tuyến:Full text available on IMF
Miêu tả
Tóm tắt:The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation-not necessarily more regulation-thus leads to greater possibilities both for development and stability.
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Mô tả vật lý:1 online resource (44 pages)
Định dạng:Mode of access: Internet
Truy cập:Electronic access restricted to authorized BRAC University faculty, staff and students