"WHAT ENABLE FINANCIAL SECTOR DEVELOPMENT?": CROSS COUNTRY STUDY & MYANMAR CASE STUDY
"WHAT ENABLE FINANCIAL SECTOR DEVELOPMENT?": CROSS COUNTRY STUDY & MYANMAR CASE STUDY
- 주제(키워드) International Trade , Myanmar
- 주제(KDC) 326
- 주제(DDC) 382
- 발행기관 아주대학교
- 지도교수 최희갑
- 발행년도 2007
- 학위수여년월 2007. 8
- 학위명 석사
- 학과 및 전공 국제대학원 국제통상학과
- 본문언어 영어
초록/요약
Acknowledging the critical role financial sector play for promoting economic development, this research paper try to answer the question of ？What enable the growth of financial sector?？ This research based on two major concepts:-that finance growth can be enhanced by promoting demand side and supply side factors and by improving functional efficiency of financial sector. This research explore on potential explanatory factors for finance growth. Firstly, this research examines and investigates a number of potential factors that can influence financial growth by using Cross country analysis and Country case time series analysis. The empirical studies made are based on penal regression estimation using Ordinary Least Square (OLS) method. The study involves the sample of twenty seven countries across the world spanning 11 years, from 1995-2005. Secondly, the cross country investigation found that ICT development and Real sector？s external demand are robust to explain financial sector growth. In country case time series analysis, ICT and External Demand as well as fiscal soundness are found to be closely associated with financial development. The close associations between the ICT, External Demand, fiscal soundness and financial sector development are not mere close association. The causal effects of the factors on financial sector development are explained by using qualitative analysis. To be able to highlight the significance of the result of the research, the study was conducted in the condition under which the effects of pre-existing determinants of financial sector development i.e. ？legal and regulatory factor？ and ？macroeconomic stability factor？ are controlled. This research contributed finance development literature in five major ways. First, fresh approaches are taken to conceptualize and analyse the financial sector. Second, a number of new determinants are explored and examined. Third, some factors are proved as robust determinants to financial growth. Fourth, the channels through which the newly identified factors caused finance growth are discussed. Fifth, policy recommendations on augmenting the determinants of financial development are discussed.
more목차
Abstract iii
Acknowledgements ix
I. Introduction 1-5
1.1. Motivation & Goal
1.2. Scope of the study
1.3. Contributions of the study
II. Literature Review 6-12
2.1. Finance ？ Growth Literature
2.2. Finance Determinants Literature
III. Conceptual Discussion on the research 13-23
IV Research Methodology 24-31
4.1. The Model
4.2. Method and Procedures of estimation
4.3. The Data
4.3.1 Sample
4.3.2 Dependent Variable
4.3.3 Explanatory Variables
4.3.4 Instrumental Variables
4.3.5 Sources of Data
V. Empirical Findings 32-36
5.1. Results of Estimation
5.2. Evaluation of the Estimation
5.3. Limitations on the research
VI. Analysis on the Estimation Results 37-42
6.1. ICT & Finance
6.2. External Demand & Finance
6.3. Fiscal Soundness & Finance
6.4. Rail and Road Network & Finance
VII. Recommendations 43-49
VIII. Conclusion 50-53
