Review of Development Finance最新文献_第3页

The impact of SMEs’ lending and credit guarantee on bank efficiency in South Korea 韩国中小企业贷款和信用担保对银行效率的影响

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Review of Development Finance Pub Date : 2017-12-01 DOI: 10.1016/j.rdf.2017.04.003

Lien-Wen Liang , Bor-Yi Huang , Chih-Feng Liao , Yu-Ting Gao

引用次数: 49

Financial liberalization and growth in African economies: The role of policy complementarities 金融自由化与非洲经济增长：政策互补性的作用

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.02.001

Ousmanou Njikam

引用次数: 24

Sectoral linkages of financial services as channels of economic development—An input–output analysis of the Nigerian and Kenyan economies 金融服务作为经济发展渠道的部门联系——尼日利亚和肯尼亚经济的投入产出分析

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.01.004

Andreas Freytag , Susanne Fricke

{"title":"Sectoral linkages of financial services as channels of economic development—An input–output analysis of the Nigerian and Kenyan economies","authors":"Andreas Freytag , Susanne Fricke","doi":"10.1016/j.rdf.2017.01.004","DOIUrl":"10.1016/j.rdf.2017.01.004","url":null,"abstract":"<div><p>Sectoral linkages of financial services of the Nigerian and Kenyan economies are evaluated by means of an input–output analysis for 2007, 2009 and 2011. Backward linkages, forward linkages, multiplier effects and variation indices for the financial services sectors are determined. Due to the increasing importance of mobile money, we additionally investigate these linkages for the communication sector. We find high forward and backward linkages for the Nigerian financial services sector only. Here, changes in final demand for or primary input into the financial sector have a wide and evenly spread impact on the rest of the economy classifying the financial sector as a key sector. Regarding Kenya, however, the sectoral linkages of the financial services sector are lower. This may be due to the well-developed mobile financial market in Kenya. But results for the communication sector, however, yield rather low linkage values and multiplier effects for both economies. All results are confirmed by a robustness test. Nonetheless, they could have been influenced by a lack of data coverage especially with regard to mobile money and a high degree of informal financial transactions. Still, our findings confirm the significance of financial services as channels of economic development for both the economies.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"7 1","pages":"Pages 36-44"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2017.01.004","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45267437","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 31

Financing the growth of SMEs in Africa: What are the contraints to SME financing within ECOWAS? 为非洲中小企业的发展融资：西非经共体中小企业融资的限制是什么？

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.03.001

Peter Quartey , Ebo Turkson , Joshua Y. Abor , Abdul Malik Iddrisu

引用次数: 178

Access to finance and firm performance: Evidence from African countries 融资渠道与企业绩效:来自非洲国家的证据

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.01.006

Babajide Fowowe

{"title":"Access to finance and firm performance: Evidence from African countries","authors":"Babajide Fowowe","doi":"10.1016/j.rdf.2017.01.006","DOIUrl":"10.1016/j.rdf.2017.01.006","url":null,"abstract":"<div><p>This study conducts an empirical investigation of the effects of access to finance on the growth of firms in African countries. In order to achieve this, we made use of a new rich enterprise-level data set from the World Bank’s Enterprise Surveys and employ both subjective and objective measures of access to finance. The subjective measure of access to finance is obtained from the ranking of access to finance as no obstacle or severe obstacle to business operations. The objective measure of access to finance is a variable which measures whether firms are constrained in obtaining credit or not. We use data for 10,888 firms across 30 African countries and the results using the subjective measure show that the access to finance constraint exerts a significant negative effect on firm growth. Also, the results using the objective measure show that firms that are not credit constrained experience faster growth than firms which are credit constrained. These results lend credence to the view that financing is very important for firm growth, and justifies the many measures and initiatives being put in place to make more finance available for African firms.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"7 1","pages":"Pages 6-17"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2017.01.006","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42356044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 213

Financial sector development in Africa–an overview 非洲金融部门发展概览

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.04.002

Isaac Otchere , Lemma Senbet , Witness Simbanegavi

引用次数: 43

Capital requirement, bank competition and stability in Africa 非洲的资本需求、银行竞争与稳定

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.01.002

Jacob Oduor , Kethi Ngoka , Maureen Odongo

引用次数: 42

Stock market development and integration in SADC (Southern African Development Community) 南部非洲发展共同体的股票市场发展和一体化

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.01.005

Sunil K. Bundoo

{"title":"Stock market development and integration in SADC (Southern African Development Community)","authors":"Sunil K. Bundoo","doi":"10.1016/j.rdf.2017.01.005","DOIUrl":"10.1016/j.rdf.2017.01.005","url":null,"abstract":"<div><p>The paper analyses the extent of stock market integration in SADC by first analyzing beta and sigma convergence and then using cointegration analysis. The US market and the SSA index were used as benchmarks. The sample period was from January 1999 to December 2011 using daily market index data. We observe beta convergence but not sigma convergence; though the sigma values are falling for most of the SADC countries. Under normal conditions, no cointegrating vector was identified when using the US market as benchmark. When using the SSA index as benchmark one cointegrating vector was identified. The paper also takes stock of the extent of software and hardware stock market integration in SADC. The SADC stock exchanges must work towards greater integration so that they can attract more sustained portfolio flows rather than volatile portfolio flows and also greater FDI flows which are much needed for the financial and economic development of the SADC countries. We also need to consolidate and reduce the number of exchanges with the view to improve market capitalization, liquidity, market infrastructure, governance amongst others but most importantly to increase the visibility, robustness and reputation of SADC stock markets at the international level.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"7 1","pages":"Pages 64-72"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2017.01.005","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46786719","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 23

Credit risk determinants in Sub-Saharan banking systems: Evidence from five countries and lessons learnt from Central East and South East European countries 撒哈拉以南地区银行体系中的信贷风险决定因素:来自五个国家的证据以及来自中东欧和东南欧国家的经验教训

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.01.003

Eftychia Nikolaidou , Sofoklis Vogiazas

{"title":"Credit risk determinants in Sub-Saharan banking systems: Evidence from five countries and lessons learnt from Central East and South East European countries","authors":"Eftychia Nikolaidou , Sofoklis Vogiazas","doi":"10.1016/j.rdf.2017.01.003","DOIUrl":"10.1016/j.rdf.2017.01.003","url":null,"abstract":"<div><p>Banking systems in Sub-Saharan Africa (SSA) have grown notably over the past decades due to benign macroeconomic, regulatory and financial trends. Nonetheless, downside risks remain elevated by structural issues, commodity price fluctuations, reversal of capital flows and spill-over effects from external shocks in a manner similar to the Central East and South East European (CESEE) countries. In the light of the 2008–2009 Global Financial Crisis, great attention has been given to understanding the causes of banking instability with most of the research focusing on advanced economies and, to a lesser extent, large emerging markets while little attention has been paid to the bank-based financial sectors of Sub-Saharan Africa. Furthermore, there is scarcity of studies aiming at knowledge-sharing among different emerging economies. This paper aims to identify the determinants of bank credit risk by focusing on five SSA countries: Kenya, Namibia, South Africa, Zambia and Uganda. Using the ARDL approach to cointegration, findings indicate that increased money supply conditions have a decreasing effect on NPLs in all counties, banking industry-specific variables play a significant role in the case of South Africa and Uganda while NPLs are driven by country-specific variables in the case of Kenya, South Africa and Zambia. The effect of the Global Financial Crisis is evidenced indirectly. Drawing on evidence from CESEE countries with long experience in banking crises, reforms and financial deepening process, the paper provides lessons for SSA countries and offers policy recommendations in the direction of strengthening banks’ balance sheets to ensure financial stability.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"7 1","pages":"Pages 52-63"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2017.01.003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45887388","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 33

Mobile financial services and financial inclusion: Is it a boon for savings mobilization? 移动金融服务和普惠金融:它是储蓄动员的福音吗?

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Review of Development Finance Pub Date : 2017-06-01 DOI: 10.1016/j.rdf.2017.01.001

Shem Alfred Ouma , Teresa Maureen Odongo , Maureen Were

{"title":"Mobile financial services and financial inclusion: Is it a boon for savings mobilization?","authors":"Shem Alfred Ouma , Teresa Maureen Odongo , Maureen Were","doi":"10.1016/j.rdf.2017.01.001","DOIUrl":"10.1016/j.rdf.2017.01.001","url":null,"abstract":"<div><p>The adoption of mobile telephony to provide financial services in Africa has become instrumental in integrating the hitherto unbanked segments of the population to the mainstream financial systems. This study sought to establish this linkage by examining whether the pervasive use of mobile telephony to provide financial services is a boon for savings mobilization in selected countries in sub Saharan Africa. The findings show that availability and usage of mobile phones to provide financial services promotes the likelihood of saving at the household level. Not only does access to mobile financial services boost the likelihood to save, but also has a significant impact on the amounts saved, perhaps due to the frequency and convenience with which such transactions can be undertaken using a mobile phone. Both forms of savings, that is, basic mobile phone savings stored in the phone and bank integrated mobile savings are likely to be promoted by use of mobile phones. Thus, growing and deepening the scope for mobile phone financial services is an avenue for promoting savings mobilization, especially among the poor and low income groups with constrained access to formal financial services.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"7 1","pages":"Pages 29-35"},"PeriodicalIF":0.6,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2017.01.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48438143","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 215