Financial Systems, Growth, and Volatility (Record no. 29196)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02717cam a22003134a 4500 |
| 001 - CONTROL NUMBER | |
| control field | 7723 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | The World Bank |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20181114094720.0 |
| 006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION | |
| fixed length control field | m d |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
| fixed length control field | cr cn||||||||| |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 160818s2016 dcu o i00 0 eng |
| 024 8# - OTHER STANDARD IDENTIFIER | |
| Standard number or code | 10.1596/1813-9450-7723 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (The World Bank)7723 |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Islam, Roumeen. |
| 245 10 - TITLE STATEMENT | |
| Title | Financial Systems, Growth, and Volatility |
| Medium | [electronic resource] : |
| Remainder of title | Searching for the Perfect Fit / |
| Statement of responsibility, etc | Roumeen Islam. |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Washington, D.C. : |
| Name of publisher, distributor, etc | The World Bank, |
| Date of publication, distribution, etc | 2016. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1 online resource (37 p.) |
| 520 3# - SUMMARY, ETC. | |
| Summary, etc | This paper builds on recent research examining the impact of finance on growth, looking at the effect of the financial system on volatility in gross domestic product per capita and consumption per capita growth. It also examines the impact of credit on the composition of growth. The findings show that financial development smooths growth in gross domestic product and consumption per capita, but only up to a point. At high levels of credit, further credit is positively associated with volatility even after controlling for the quality of institutions and periods of financial crises. In large financial systems, finance may not help individuals smooth consumption volatility. The threshold at which finance's effect may be volatility enhancing may be lower than previously thought. In terms of the impact on growth, total credit (and credit to firms) has a nonlinear relationship, with rising credit supporting higher growth up to a point, beyond which the additional impact of finance on growth is negative. This can be explained by finance flowing into less productive activities (or drawing other resources into less productive activities). In addition, household credit is negatively related to manufacturing sector growth, although credit to firms has a positive relationship to manufacturing growth. This may be explained by the fact that much of household credit is used to finance the consumption (including imports) of goods and services broadly (not just manufacturing sector goods) or investment in housing. |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Access to finance |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Debt markets |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economic conditions and volatility |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Finance and financial sector development |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Macroeconomics and economic growth |
| 650 #4 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Private sector development |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Islam, Roumeen. |
| 776 18 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Main entry heading | Print Version: |
| Display text | Islam, Roumeen. |
| Title | Financial Systems, Growth, and Volatility : Searching for the Perfect Fit. |
| Place, publisher, and date of publication | Washington, D.C. : The World Bank, 2016. |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | Policy research working papers. |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | World Bank e-Library. |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-7723">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-7723</a> |
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