The Structure of Banking Systems in Developed and Transition Economies

Jaffee, Dwight M.; Levonian, Mark

doi:10.1111/1468-036x.00151

Cited by 82 publications

(9 citation statements)

References 7 publications

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“…Both empirical (Boyd, Levine, & Smith, ) and theoretical (Huybens & Smith, ) studies are in accordance with the perspective that countries with substantially high inflation are linked with smaller, less active, and less efficient banks. There is also a consensus in the literature regarding the positive relationship between growth and the outcome variable (Jaffee & Levonian, ). This is essentially because economic growth is related to enhancing financial intermediation due to, inter alia , boosted competition and the availability of more funds for productive investments.…”

Section: Methodsmentioning

confidence: 99%

Information asymmetry, financialization, and financial access

Asongu

Odhiambo

2018

International Finance

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This study investigates whether information sharing channels that are meant to reduce information asymmetry have led to an increase in financial access. The study employs a Generalized Method of Moments technique using data from 53 African countries during the period from 2004 to 2011 to examine this linkage. Information sharing channels are theoretically designed to promote the formal financial sector and discourage the informal financial sector. The study uses two information sharing channels: private credit bureaus and public credit registries. The study found that both information sharing channels have a positive and significant impact on financial access. The study also found that public credit registries complement the formal financial sector to promote financial access. Policy implications are discussed.

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Section: Methodsmentioning

confidence: 99%

Information asymmetry, financialization, and financial access

Asongu

Odhiambo

2018

International Finance

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“…Using fixed effects, however, has its own advantages. Justification for the inclusion of country fixed effects derives from the argument that there are time‐invariant country‐specific factors such as geography, climate, natural resources, and culture that are important determinants of financial development (e.g., Jaffee and Levonian, ; Stulz and Williamson, ). The inclusion of year fixed effects captures factors specific to individual years.…”

Section: Sample Construction and Data Measurementmentioning

confidence: 99%

Managerial Social Capital and Financial Development: A Cross‐Country Analysis

Javakhadze

Ferris

French

2016

The Financial Review

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This study examines the issue of whether managerial social capital, defined as aggregate benefits of social obligations and informal contacts formed through social networks, has an impact on financial development. Utilizing a large cross‐country sample for the period 1999–2012, we provide evidence that higher levels of social capital have a positive effect on financial development. We are able to examine different types of social connections for our sample firms and find that informal and nonprofessional relationships matter the most for financial market development. These findings are robust to alternative model specifications, variable measurement, and estimation techniques.

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“…32 32 It has to be noted that this sub‐sample consists of only 18 firms. It is worth mentioning that Poland, Hungary, and the Czech Republic were countries which made most progress in the development of their banking systems among all other transition economies (see Jaffee and Levonian, 2001). …”

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confidence: 99%

The Operating Performance of Newly Privatised Firms in Central European Transition Economies

Aussenegg

Jelic

2007

Euro Fin Management

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"This study examines the operating performance of privatised firms in three Central European Transition Economies between 1990 and 1998. Overall, we find no evidence of a significant improvement in operating performance for the first six years after privatisation. Contrary to the increasing empirical evidence for non-transition economies, our privatised firms experience no improvement in profitability, capital investments, efficiency, and output, a significant drop in employment, as well as a significant increase in leverage. The most important determinants of the performance changes following privatisation were country effects, timing of the privatisation sales, industry classification, and state ownership after privatisation. Our findings are consistent with the empirical evidence that the transition process proved to be more difficult than expected and that, although necessary, privatisations do not necessarily produce equal efficiency gains in transition economies (Megginson, 2005; Havrylyshyn and McGettigan, 1999)." Copyright 2007 The Authors Journal compilation (c) 2007 Blackwell Publishing Ltd.

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The Structure of Banking Systems in Developed and Transition Economies

Cited by 82 publications

References 7 publications

Information asymmetry, financialization, and financial access

Information asymmetry, financialization, and financial access

Managerial Social Capital and Financial Development: A Cross‐Country Analysis

The Operating Performance of Newly Privatised Firms in Central European Transition Economies

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