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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Bibliographic Details
Main Author: Cull, Robert
Other Authors: Effron, Laurie
Format: eBook
Language:English
Published: Washington, D.C The World Bank 2005
Subjects:
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
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245 0 0 |a World Bank Lending and Financial Sector Development  |h Elektronische Ressource  |c Cull, Robert 
260 |a Washington, D.C  |b The World Bank  |c 2005 
300 |a 37 p. 
653 |a Conditionality 
653 |a Adjustment Loan 
653 |a Technical Assistance Loans 
653 |a Macroeconomics and Economic Growth 
653 |a Country Strategy and Performance 
653 |a Financial Literacy 
653 |a Adjustment 
653 |a Pro-Poor Growth 
653 |a Grants 
653 |a Emerging Markets 
653 |a Borrowing Countries 
653 |a Development Economics 
653 |a Funds 
653 |a Lending Programs 
653 |a Borrower 
653 |a Adjustment Loans 
653 |a Lending Services 
653 |a World Bank Lending 
653 |a Poverty Reduction 
653 |a Economic Adjustment and Lending 
653 |a Debt Markets 
653 |a World Bank Loans 
653 |a Private Sector Development 
653 |a Financial Institutions 
653 |a Finance and Financial Sector Development 
653 |a Economic Theory and Research 
653 |a Structural Adjustment Loans 
653 |a Borrowers 
653 |a Lending Rate 
653 |a Banks and Banking Reform 
653 |a Borrowing 
653 |a World Bank 
700 1 |a Effron, Laurie 
700 1 |a Cull, Robert 
041 0 7 |a eng  |2 ISO 639-2 
989 |b WOBA  |a World Bank E-Library Archive 
856 4 0 |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3656  |x Verlag  |3 Volltext 
082 0 |a 330 
520 |a 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