World Bank Lending and Financial Sector Development

Using a new database of World Bank loans to support financial sector development, the authors investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. They account for self-selection with treatme...

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Main Authors:	Cull, Robert, Effron, Laurie
Format:	Publications & Research
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTING ADJUSTMENT LENDING ADJUSTMENT LOANS AUDITING AVERAGE GROWTH AVERAGE GROWTH RATE BALANCE SHEETS BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REGULATION BANKING BANKING REFORM BANKING SECTOR BANKING SERVICES BORROWER BORROWING BORROWING COUNTRIES BUDGET SURPLUS CAPITAL ADEQUACY CONDITIONALITY DATA AVAILABILITY DEBT DEFICITS DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING WORLD DEVELOPMENT DEVELOPMENT INDICATORS ECONOMIC GROWTH ECONOMIC REFORM EMPIRICAL WORK EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENT ESTIMATION TECHNIQUES EVERGREENING EXOGENOUS VARIABLES EXPLANATORY VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FIXED EFFECTS GDP GROWTH LITERATURE GROWTH RATE GROWTH RATES INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATE INTEREST RATES LENDING SERVICES LOAN M2 MACROECONOMIC OUTCOMES MEDIUM TERM MICROFINANCE PANEL REGRESSIONS PER CAPITA GROWTH POINT ESTIMATES POLICY AREAS POLICY CHANGES POLICY RESEARCH POLICY VARIABLES POLITICAL ECONOMY POSITIVE EFFECTS PROBLEM BANKS PROFITABILITY PUBLIC SECTOR RAPID GROWTH REFORM EFFORTS REFORM PROGRAMS SECTOR REFORMS SELECTION BIAS STATISTICAL ANALYSIS STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS STRUCTURAL POLICIES TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL ASSISTANCE LOANS TRANSITION ECONOMIES WORLD BANK LENDING WORLD BANK LOANS
Online Access:	http://documents.worldbank.org/curated/en/2005/07/6027532/world-bank-lending-financial-sector-development http://hdl.handle.net/10986/8214

id	okr-10986-8214
recordtype	oai_dc
spelling	okr-10986-82142021-04-23T14:02:43Z World Bank Lending and Financial Sector Development Cull, Robert Effron, Laurie ACCOUNTING ADJUSTMENT LENDING ADJUSTMENT LOANS AUDITING AVERAGE GROWTH AVERAGE GROWTH RATE BALANCE SHEETS BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REGULATION BANKING BANKING REFORM BANKING SECTOR BANKING SERVICES BORROWER BORROWING BORROWING COUNTRIES BUDGET SURPLUS CAPITAL ADEQUACY CONDITIONALITY DATA AVAILABILITY DEBT DEFICITS DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING WORLD DEVELOPMENT DEVELOPMENT INDICATORS ECONOMIC GROWTH ECONOMIC REFORM EMPIRICAL WORK EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENT ESTIMATION TECHNIQUES EVERGREENING EXOGENOUS VARIABLES EXPLANATORY VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FIXED EFFECTS GDP GROWTH LITERATURE GROWTH RATE GROWTH RATES INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATE INTEREST RATES LENDING SERVICES LOAN M2 MACROECONOMIC OUTCOMES MEDIUM TERM MICROFINANCE PANEL REGRESSIONS PER CAPITA GROWTH POINT ESTIMATES POLICY AREAS POLICY CHANGES POLICY RESEARCH POLICY VARIABLES POLITICAL ECONOMY POSITIVE EFFECTS PROBLEM BANKS PROFITABILITY PUBLIC SECTOR RAPID GROWTH REFORM EFFORTS REFORM PROGRAMS SECTOR REFORMS SELECTION BIAS STATISTICAL ANALYSIS STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS STRUCTURAL POLICIES TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL ASSISTANCE LOANS TRANSITION ECONOMIES WORLD BANK LENDING WORLD BANK LOANS Using a new database of World Bank loans to support financial sector development, the authors investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. They account for self-selection with treatment effects regressions, and also use propensity score matching techniques. The authors' results indicate that borrowing countries had significantly more rapid growth in M2/GDP than non-borrowers, and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than non-borrowers in treatment effects regressions, but not in standard panel regressions with fixed country effects. On the whole, however, the results indicate significant advantages for borrowers over non-borrowers in terms of financial development. 2012-06-15T21:02:38Z 2012-06-15T21:02:38Z 2005-07 http://documents.worldbank.org/curated/en/2005/07/6027532/world-bank-lending-financial-sector-development http://hdl.handle.net/10986/8214 English Policy Research Working Paper; No. 3656 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNTING ADJUSTMENT LENDING ADJUSTMENT LOANS AUDITING AVERAGE GROWTH AVERAGE GROWTH RATE BALANCE SHEETS BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REGULATION BANKING BANKING REFORM BANKING SECTOR BANKING SERVICES BORROWER BORROWING BORROWING COUNTRIES BUDGET SURPLUS CAPITAL ADEQUACY CONDITIONALITY DATA AVAILABILITY DEBT DEFICITS DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING WORLD DEVELOPMENT DEVELOPMENT INDICATORS ECONOMIC GROWTH ECONOMIC REFORM EMPIRICAL WORK EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENT ESTIMATION TECHNIQUES EVERGREENING EXOGENOUS VARIABLES EXPLANATORY VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FIXED EFFECTS GDP GROWTH LITERATURE GROWTH RATE GROWTH RATES INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATE INTEREST RATES LENDING SERVICES LOAN M2 MACROECONOMIC OUTCOMES MEDIUM TERM MICROFINANCE PANEL REGRESSIONS PER CAPITA GROWTH POINT ESTIMATES POLICY AREAS POLICY CHANGES POLICY RESEARCH POLICY VARIABLES POLITICAL ECONOMY POSITIVE EFFECTS PROBLEM BANKS PROFITABILITY PUBLIC SECTOR RAPID GROWTH REFORM EFFORTS REFORM PROGRAMS SECTOR REFORMS SELECTION BIAS STATISTICAL ANALYSIS STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS STRUCTURAL POLICIES TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL ASSISTANCE LOANS TRANSITION ECONOMIES WORLD BANK LENDING WORLD BANK LOANS
spellingShingle	ACCOUNTING ADJUSTMENT LENDING ADJUSTMENT LOANS AUDITING AVERAGE GROWTH AVERAGE GROWTH RATE BALANCE SHEETS BANK LENDING BANK LOANS BANK PRIVATIZATION BANK REGULATION BANKING BANKING REFORM BANKING SECTOR BANKING SERVICES BORROWER BORROWING BORROWING COUNTRIES BUDGET SURPLUS CAPITAL ADEQUACY CONDITIONALITY DATA AVAILABILITY DEBT DEFICITS DEPENDENT VARIABLE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING WORLD DEVELOPMENT DEVELOPMENT INDICATORS ECONOMIC GROWTH ECONOMIC REFORM EMPIRICAL WORK EQUATIONS ERROR TERM ERROR TERMS ESTIMATED COEFFICIENT ESTIMATION TECHNIQUES EVERGREENING EXOGENOUS VARIABLES EXPLANATORY VARIABLES EXPORTS FINANCIAL CRISES FINANCIAL DEPTH FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FIXED EFFECTS GDP GROWTH LITERATURE GROWTH RATE GROWTH RATES INFLATION INSTITUTIONAL DEVELOPMENT INTEREST RATE INTEREST RATES LENDING SERVICES LOAN M2 MACROECONOMIC OUTCOMES MEDIUM TERM MICROFINANCE PANEL REGRESSIONS PER CAPITA GROWTH POINT ESTIMATES POLICY AREAS POLICY CHANGES POLICY RESEARCH POLICY VARIABLES POLITICAL ECONOMY POSITIVE EFFECTS PROBLEM BANKS PROFITABILITY PUBLIC SECTOR RAPID GROWTH REFORM EFFORTS REFORM PROGRAMS SECTOR REFORMS SELECTION BIAS STATISTICAL ANALYSIS STRUCTURAL ADJUSTMENT STRUCTURAL ADJUSTMENT LOANS STRUCTURAL POLICIES TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL ASSISTANCE LOANS TRANSITION ECONOMIES WORLD BANK LENDING WORLD BANK LOANS Cull, Robert Effron, Laurie World Bank Lending and Financial Sector Development
relation	Policy Research Working Paper; No. 3656
description	Using a new database of World Bank loans to support financial sector development, the authors investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. They account for self-selection with treatment effects regressions, and also use propensity score matching techniques. The authors' results indicate that borrowing countries had significantly more rapid growth in M2/GDP than non-borrowers, and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than non-borrowers in treatment effects regressions, but not in standard panel regressions with fixed country effects. On the whole, however, the results indicate significant advantages for borrowers over non-borrowers in terms of financial development.
format	Publications & Research
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, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/07/6027532/world-bank-lending-financial-sector-development http://hdl.handle.net/10986/8214
_version_	1764407521299136512

World Bank Lending and Financial Sector Development

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