The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Rethinking Financial Deepening: Stability and Growth in Emerging Markets
Abstract
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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Cites
Stock markets, banks, and growth: Panel evidence
Beck, T., & Levine, R. (2004) · Journal of Banking & Finance · doi:10.1016/s0378-4266(02)00408-9 · Cited by 2,067
Financial development and economic growth
De Gregorio, J., & Guidotti, P. E. (1995) · World Development · doi:10.1016/0305-750x(94)00132-i · Cited by 1,216
WHAT IS HAPPENING TO THE IMPACT OF FINANCIAL DEEPENING ON ECONOMIC GROWTH?
ROUSSEAU, P. L., & WACHTEL, P. (2011) · Economic Inquiry · doi:10.1111/j.1465-7295.2009.00197.x · Cited by 718
Cited by
Inequality, ICT and financial access in Africa
Tchamyou, V. S., Erreygers, G., & Cassimon, D. (2019) · Technological Forecasting and Social Change · doi:10.1016/j.techfore.2018.11.004 · Cited by 653
Financial Inclusion: Can it Meet Multiple Macroeconomic Goals?
Sahay, R., Cihak, M., N'Diaye, P., Barajas, A., Mitra, S., Kyobe, A., Mooi, Y., & Yousefi, S. R. (2015) · Staff Discussion Notes · doi:10.5089/9781513585154.006 · Cited by 424
Self-citationFinancial inclusion and economic growth linkage: Some cross country evidence
Sethi, D., & Acharya, D. (2018) · Journal of Financial Economic Policy · doi:10.1108/jfep-11-2016-0073 · Cited by 341
Hardoon, D., Fuentes-Nieva, R., & Ayele, S. (2016) · doi:10.21201/2016.592643 · Cited by 257
Finance and economic growth: Financing structure and non-linear impact
Benczúr, P., Karagiannis, S., & Kvedaras, V. (2019) · Journal of Macroeconomics · doi:10.1016/j.jmacro.2018.08.001 · Cited by 93
Metadata
- Authors
- Sahay, R., Cihak, M., N'Diaye, P., Barajas, A., Ayala Pena, D., Bi, R., Gao, Y., Kyobe, A., Nguyen, L., Saborowski, C., Svirydzenka, K., Yousefi, R., RSahay@imf.org, MCihak@imf.org, PN'Diaye@imf.org, ABarajas@imf.org, Pena@imf.org, D., RBi@imf.org, YGao@imf.org, AKyobe@imf.org, LNguyen@imf.org, CSaborowski@imf.org, KSvirydzenka@imf.org, & RYousefi@imf.org
- Venue
- Staff Discussion Notes
- Publisher
- International Monetary Fund (IMF)
- Published
- 2015
- Volume
- 15
- Issue
- 8
- Pages
- 1
- ISSN
- 2221-030X (ISSN-L)
- OpenAlex
- W2970527834
- Cited by
- 703
- References
- 3
- FWCI
- 112.57
- Type
- journal article
- Language
- en
- Open access
- closed
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- Sahay, R., Cihak, M., N'Diaye, P., Barajas, A., Ayala Pena, D., Bi, R., Gao, Y., Kyobe, A., Nguyen, L., Saborowski, C., Svirydzenka, K., Yousefi, R., RSahay@imf.org, MCihak@imf.org, PN'Diaye@imf.org, ABarajas@imf.org, Pena@imf.org, D., RBi@imf.org, YGao@imf.org, . . . RYousefi@imf.org. (2015). Rethinking Financial Deepening: Stability and Growth in Emerging Markets. Staff Discussion Notes. https://doi.org/10.5089/9781498312615.006
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
