金融发展的决定因素：来自贝叶斯模型平均的证据

IF 3.3 2区经济学 Q1 ECONOMICS

Economic Systems Pub Date : 2025-06-01 DOI:10.1016/j.ecosys.2024.101274

Roman Horvath , Eva Horvatova , Maria Siranova

{"title":"金融发展的决定因素：来自贝叶斯模型平均的证据","authors":"Roman Horvath , Eva Horvatova , Maria Siranova","doi":"10.1016/j.ecosys.2024.101274","DOIUrl":null,"url":null,"abstract":"<div><div>We examine the determinants of financial development using our global sample and employing different measures of financial development that assess the degree of depth and efficiency of financial intermediaries. We use instrumental variable Bayesian model averaging to test competing theories with this unifying framework. After examining nearly 20 potential determinants of financial development, we find that the rule of law, as well as some of its components, is the most important. In addition, our results suggest that wealth inequality is irrelevant to banking sector development but positively associated with stock market development.</div></div>","PeriodicalId":51505,"journal":{"name":"Economic Systems","volume":"49 2","pages":"Article 101274"},"PeriodicalIF":3.3000,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The determinants of financial development: Evidence from Bayesian model averaging\",\"authors\":\"Roman Horvath , Eva Horvatova , Maria Siranova\",\"doi\":\"10.1016/j.ecosys.2024.101274\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>We examine the determinants of financial development using our global sample and employing different measures of financial development that assess the degree of depth and efficiency of financial intermediaries. We use instrumental variable Bayesian model averaging to test competing theories with this unifying framework. After examining nearly 20 potential determinants of financial development, we find that the rule of law, as well as some of its components, is the most important. In addition, our results suggest that wealth inequality is irrelevant to banking sector development but positively associated with stock market development.</div></div>\",\"PeriodicalId\":51505,\"journal\":{\"name\":\"Economic Systems\",\"volume\":\"49 2\",\"pages\":\"Article 101274\"},\"PeriodicalIF\":3.3000,\"publicationDate\":\"2025-06-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economic Systems\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0939362524000967\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Systems","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0939362524000967","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 0

摘要

我们使用我们的全球样本，并采用不同的金融发展指标来评估金融中介机构的深度和效率程度，来检验金融发展的决定因素。我们使用工具变量贝叶斯模型平均来测试竞争理论与这个统一的框架。在研究了金融发展的近20个潜在决定因素后，我们发现法治及其一些组成部分是最重要的。此外，我们的研究结果表明，财富不平等与银行业发展无关，但与股市发展呈正相关。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

The determinants of financial development: Evidence from Bayesian model averaging

We examine the determinants of financial development using our global sample and employing different measures of financial development that assess the degree of depth and efficiency of financial intermediaries. We use instrumental variable Bayesian model averaging to test competing theories with this unifying framework. After examining nearly 20 potential determinants of financial development, we find that the rule of law, as well as some of its components, is the most important. In addition, our results suggest that wealth inequality is irrelevant to banking sector development but positively associated with stock market development.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Economic Systems ECONOMICS-

CiteScore

4.90

自引率

0.00%

发文量

审稿时长

48 days

期刊介绍： Economic Systems is a refereed journal for the analysis of causes and consequences of the significant institutional variety prevailing among developed, developing, and emerging economies, as well as attempts at and proposals for their reform. The journal is open to micro and macro contributions, theoretical as well as empirical, the latter to analyze related topics against the background of country or region-specific experiences. In this respect, Economic Systems retains its long standing interest in the emerging economies of Central and Eastern Europe and other former transition economies, but also encourages contributions that cover any part of the world, including Asia, Latin America, the Middle East, or Africa.