Financial Institutions and Markets Across Countries and Over Time - Data and Analysis

This paper introduces the updated and expanded version of the Financial Development and Structure Database and presents recent trends in structure and development of financial institutions and markets across countries. The authors add indicators on banking structure and financial globalization. They find a deepening of both financial markets and institutions, a trend concentrated in high-income countries and more pronounced for markets than for banks. Similarly, the recent increase in cross-border lending and debt issues has been concentrated in high-income countries, while low and lower-middle income countries have experienced an increase in remittance flows. Low net interest margins, rising profitability and declining stability in high-income countries’ banking sectors characterize the recent financial sector boom in high income countries leading up to the global financial crisis of 2007.

[1]  Gianni De Nicolò.  Size, Charter Value and Risk in Banking: An International Perspective , 2000 .

[2]  P. Lane,et al.  The External Wealth of Nations Mark II : Revised and Extended Estimates of Foreign Assets and Liabilities, 1970–2004 , 2006 .

[3]  T. Beck,et al.  Banking Services for Everyone? Barriers to Bank Access and Use Around the World , 2006 .

[4]  T. Beck,et al.  A New Database on Financial Development and Structure , 1999 .

[5]  Asli Demirgüç-Kunt,et al.  Funding Growth in Bank-Based and Market-Based Financial Systems: Evidence from Firm-Level Data , 2000 .

[6]  Nicola Spatafora,et al.  Remittances: Transaction Costs, Determinants, and Informal Flows , 2005 .

[7]  R. Levine,et al.  Stock Markets, Banks, and Economic Growth , 1996 .

[8]  James R. Barth,et al.  Bank Regulations Are Changing: But For Better or Worse? , 2008 .

[9]  R. Levine,et al.  Bank-Based or Market-Based Financial Systems: Which is Better? , 2002 .

[10]  A. Roy.  SAFETY-FIRST AND HOLDING OF ASSETS , 1952 .

[11]  J. Boyd,et al.  Bank holding company mergers with nonbank financial firms: Effects on the risk of failure , 1993 .

[12]  Matej Marinč,et al.  The Evolving Landscape of Banking , 2008 .

[13]  T. Beck,et al.  Economic, Demographic, and Institutional Determinants of Life Insurance Consumption across Countries , 2003 .

[14]  A. Roy.  Safety first and the holding of assetts , 1952 .

[15]  Asli Demirgüç-Kunt,et al.  Deposit Insurance Around the World: A Comprehensive Database , 2005 .

[16]  F. Schneider,et al.  Shadow Economies: Size, Causes, and Consequences , 2000 .

[17]  Jon Rodiek.  The evolving landscape , 1988 .

[18]  M. Chinn,et al.  What Matters for Financial Development? Capital Controls, Institutions, and Interactions , 2005 .

[19]  Asli Demirguc-Kunt,et al.  Bank-Based and Market-Based Financial Systems: Cross-Country Comparisons , 1999 .

[20]  T. Beck,et al.  Finance in Africa - Achievements and Challenges , 2009 .

[21]  T. Beck,et al.  Reaching Out: Access to and Use of Banking Services Across Countries , 2005 .

[22]  Marco Arena.  DOES INSURANCE MARKET ACTIVITY PROMOTE ECONOMIC GROWTH? A CROSS-COUNTRY STUDY , 2008 .

[23]  T. Beck,et al.  Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter? , 2002 .

[24]  T. Beck,et al.  New Firm Formation and Industry Growth: Does Having a Market- or Bank-Based System Matter? , 1999 .

[25]  Campbell R. Harvey,et al.  Foreign Speculators and Emerging Equity Markets , 1997 .

[26]  H. Broadman,et al.  Finance and Growth: Schumpeter Might Be Right , 1993 .

[27]  T. Beck,et al.  Benchmarking Financial Development , 2008 .

[28]  P. Honohan.  Cross-country variation in household access to financial services , 2008 .

[29]  T. Beck,et al.  Finance and the Sources of Growth , 1999 .

[30]  T. Beck,et al.  Making finance work for Africa , 2007 .

[31]  L. Laeven,et al.  What Drives Bank Competition? Some International Evidence , 2003 .

[32]  Timothy H. Hannan,et al.  Bank Insolvency Risk and the Market for Large Certificates of Deposit , 1988 .

[33]  T. Beck,et al.  Finance, inequality and the poor , 2007 .

[34]  T. Beck.  The Econometrics of Finance and Growth , 2008 .

[35]  Marco Arena.  Does Insurance Market Activity Promote Economic Growth? Country Study for Industrial and Developing Countries , 2006 .

[36]  Philippe Aghion,et al.  The Effect of Financial Development on Convergence , 2005 .

[37]  Patrick Honohan,et al.  Finance for all? : policies and pitfalls in expanding access , 2007 .