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Financial Liberalization in Developing Countries - Issues, Time Series Analyses and Policy Implications
Abdullahi Dahir Ahmed, Sardar M. N. Islam
Verlag Physica-Verlag, 2009
ISBN 9783790821680 , 298 Seiten
Format PDF, OL
Kopierschutz Wasserzeichen
Geräte
185544_1_En_FM1_OnlinePDF.pdf
1
185544_1_En_1_Chapter_OnlinePDF.pdf
13
Chapter 1: Introduction
13
Contemporary Issues in Finance
13
Financial Repression
13
Financial Liberalization
14
Financial Crisis and Financial Contagion
14
International Capital Mobility/Capital Control
15
Financial Liberalization: Opposing Views
17
Approaches to Financial Liberalization
18
Financial Liberalization and Country Experience in Africa and Asia
19
Benefits of Financial Liberalization: An Empirical Issue
22
The Objectives of this Book
23
Methodology
24
Time Series Financial Econometrics
25
Cost Benefit Analysis
25
Contribution of this Book
25
The Structure of the Book
27
185544_1_En_2_Chapter_OnlinePDF.pdf
29
Chapter 2: Background, Structure and Financial Reforms
29
2.1 Introduction
29
2.2 The Case of Kenya
32
2.2.1 The Structure of the Financial System
34
2.2.2 Agricultural Sector and Other Policies Framework
39
2.2.3 Liberalization and the Era of Structural Adjustments
43
2.3 The Case of Malawi
45
2.3.1 Structure of the Financial System
50
2.3.2 Agricultural Sector and Other Policies Framework
54
2.4 The Case of Botswana
59
2.4.1 Structural Developments of the Financial System
64
2.4.2 Supplementing Role of Foreign Aid in Botswana: The Two-Gap Model
70
2.4.3 Trends and Policies in Agriculture and other Sectors
73
2.5 The Thai Financial System
78
2.6 Conclusion
79
185544_1_En_3_Chapter_OnlinePDF.pdf
80
Chapter 3: Literature Review
80
3.1 Introduction
80
3.2 Financial Development and Economic Development
82
3.3 Financial Liberalization
85
3.3.1 Financial Liberalization in Sub-Saharan Africa
94
3.3.2 The Thai Case
98
3.4 Conclusion
100
185544_1_En_4_Chapter_OnlinePDF.pdf
102
Chapter 4: The Theory of Financial Liberalization and its Economic Impact: An Assessment
102
4.1 Financial Liberalization
102
4.1.1 A Brief Theoretical Assessment
102
4.1.2 Observations from the Case Study
109
4.2 Contrasts Between the Theory and Country Performance
111
4.2.1 Introduction
111
4.2.2 Economic Impact of the Recent Financial Reforms: Kenya
112
4.2.3 Malawi
132
4.2.4 Botswana
140
4.3 Conclusion
150
Appendix
151
185544_1_En_5_Chapter_OnlinePDF.pdf
152
Chapter 5: An Analysis of the Economic Outcome of Financial Liberalization1
152
5.1 Introduction
152
5.2 A Simple Model of Imperfect Competition and Interest Rate Spread
153
5.2.1 Liberalization: Market Determined Outcome
155
5.2.2 Financial Repression
157
5.2.3 The Level of Fixed Costs as a Barrier to Entry
163
5.2.4 Graph of Fixed Costs and New Entry
166
5.2.5 Dynamics of how much the Interest Rate goes up after Liberalization
171
5.3 Financial Reforms and Absence of Entry by New Foreign Banks
173
5.4 Conclusion
179
Appendix A 5.1: Deriving the Market Equilibrium Condition for Loan Equation
180
Appendix A 5.2: Deriving the Fixed Cost Lines for Medium and Lower Regions at $${\mathop {{\bar r\,^c}}\ }$$
182
Appendix A 5.3: Maximal Points for C and D Curves
183
185544_1_En_6_Chapter_OnlinePDF.pdf
185
Chapter 6: Testing the Potential Impact of Economic Changes on Savings in African Countries
185
6.1 Introduction
185
6.2 Econometric Research on the Effect of Various Financial Conditionings
186
6.3 Reforms and Savings Mobilization: Comparative Analysis
187
6.3.1 Measures of Financial Liberalization
197
6.3.2 Basic Theory and other Specifications
199
6.4 The Macroeconometric Model
200
6.4.1 VECM Set-up
202
6.5 Data and an Analysis of Econometric Results
204
6.6 Impacts of Market Liberalization on the Macroeconomy and Growth
216
6.6.1 Hypothetical scenario for Kenya and Malawi
222
6.7 Conclusion
226
Appendix
227
185544_1_En_7_Chapter_OnlinePDF.pdf
230
Chapter 7: Welfare Implications of Financial Liberalization in Thailand: A Cost-Benefit Analysis
230
Introduction
230
Financial Liberalization and its Implications in Thailand
231
Welfare Economics Framework: Social Choice and Cost Benefit Analysis of Globalization and Financial Liberalization
232
Costs and Benefits of Financial Liberalization (and Financial Crisis): Illustrative Numerical Estimation of the Costs and Bene
235
Financial Benefits
235
Financial Costs
236
Methodology, Numerical Estimates and Data Sources
236
Welfare Implications of Economic Growth
240
Conclusions
242
Appendix 1 General DataData drawn from previous work of the authors (see Clarke, M. and Islam, S. (2004), Economic Growth and
242
Appendix 2 Cost Benefit Data
246
185544_1_En_8_Chapter_OnlinePDF.pdf
257
Chapter Chapter 8: Summary, Findings and Conclusion
257
Background and Motivation
257
The Summary and Empirical Results
258
Policy and Institutional Implications
260
185544_1_En_BM2_Chapter_OnlinePDF.pdf
262
Appendix
262
1 Movement from Repression to Liberalization
262
: Index
300
: Bibliography
284
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