huang - determinants of financial development (2010)

[...]... MEDSHARE MG MINDIST NIM OLS index of overall financial development index of extent of bank-based intermediation index of bond market development index of financial efficiency index of size of financial system / financial depth index of measure of stock market development index of financial liberalization averaged indices of civil liberties and political rights World Bank Global Development Network Database gross... “CHAP01” — 2010/9/29 — 20:05 — PAGE 7 — #7 8 Determinants of Financial Development geographic determinants of carbon market development in developing countries, mainly the Clean Development Mechanism (CDM) markets The structure of this book is outlined as follows: Chapter 2 is concerned with the main determinants of cross-country differences in financial development Two prominent tools for addressing... 6.2 6.3 Scatter plots of institutions and financial development Scatter plots of policy and financial development Scatter plots of geography and financial development Median Liquid Liability by different country group over 1960–2003 Financial development ten years before and after democratization Volatility of financial development ten years pre/post-democratization Scatter plots of CDM and geography CDM... volatility of GDP per capita growth of trading partners HUANG: “FM” — 2010/9/30 — 18:48 — PAGE xv — #15 xvi Abbreviations SDTT SRIGHT SSA SYS-GMM TOPEN TOR TVT USINT WG YRSOFFC std dev for volatility of the terms of trade index for goods and services index of shareholders’ rights dummy variable for Sub-Saharan countries System generalized method of moments estimator index of trade openness policy index of. .. substantial role of financial development in economic growth, it is of great practical importance to understand the origins of financial development Economists still have an insufficient understanding of what brings about the emergence and development of financial markets, what are the reasons why different financial structures, bank-based or market-based, exist in countries where similar levels of economic development. .. light on the role of state ownership of the media in the extent of financial development 1.3 Structure of the book This research starts from a general examination of fundamental determinants of financial market development, and moves on to specific studies as to the effects of aggregate private investment and institutional improvement on financial development It ends up with a study on the HUANG: “CHAP01”... countries x HUANG: “FM” — 2010/9/30 — 18:48 — PAGE x — #10 25 26 27 28 113 113 166 167 172 Tables 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 3.1 3.2 3.3 3.4 3.5 3.6 4.1 4.2 4.3 4.4 4.5 5.1 5.2 5.3 5.4 Determinants of FD by using BMA Determinants of FD Top ten models and their posterior probabilities for FD Geography, policy, institutions and FD Determinants of FDBANK Determinants of FDSTOCK Determinants of FDEFF Determinants. .. chapter by studying the determinants of carbon markets in developing countries from a geographic perspective The following section provides a brief review on the determinants of financial development Section 1.3 describes the structure of the book 1.2 Origins of financial development: A review Recent years have witnessed burgeoning research into the potential determinants of financial development This section... General-tospecific approaches, are jointly applied to investigate the financial development effects of a wide range of variables taken from various sources The analysis suggests that the level of financial development in a country is mainly influenced by the latter’s overall level of development, the origins of its legal system and the quality of its institutions Chapter 3 provides an exhaustive analysis of. .. clean development mechanism certified emission reductions dummy variable for civil law legal origin dummy variable for common-law legal origin index of creditors’ rights natural log of the Frankel-Romer measure of predisposition to external trade data-generating process index of political stability extreme bounds analysis elevation in metres above sea level index of ethnic fractionalization index of ethnic . HUANG: “FM” — 2010/9/30 — 18:48 — PAGEi—#1 Determinants of Financial Development HUANG: “FM” — 2010/9/30 — 18:48 — PAGE ii — #2 HUANG: “FM” — 2010/9/30 — 18:48 — PAGE iii — #3 Determinants of Financial. of FDBANK 38 2.6 Determinants of FDSTOCK 40 2.7 Determinants of FDEFF 42 2.8 Determinants of FDSIZE 44 3.1 Does private investment cause financial development? 1970–98 (five-year-average data) 74 3.2. overall financial development FDBANK index of extent of bank-based intermediation FDBOND index of bond market development FDEFF index of financial efficiency FDSIZE index of size of financial system