TY - BOOK ID - 84783704 TI - Introducing a New Broad-based Index of Financial Development PY - 2016 SN - 1498339409 1498313345 1513583700 9781513583709 9781498313346 1513530739 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Economic indicators KW - Financial institutions KW - Capital market KW - Economic development KW - Development, Economic KW - Economic growth KW - Growth, Economic KW - Economic policy KW - Economics KW - Statics and dynamics (Social sciences) KW - Development economics KW - Resource curse KW - Capital markets KW - Market, Capital KW - Finance KW - Loans KW - Money market KW - Securities KW - Crowding out (Economics) KW - Efficient market theory KW - Financial intermediaries KW - Lending institutions KW - Associations, institutions, etc. KW - Business indicators KW - Indicators, Business KW - Indicators, Economic KW - Leading indicators KW - Economic history KW - Quality of life KW - Economic forecasting KW - Index numbers (Economics) KW - Social indicators KW - E-books KW - Finance: General KW - Investments: General KW - General Financial Markets: General (includes Measurement and Data) KW - Financial Institutions and Services: General KW - Economic Development: Financial Markets KW - Saving and Capital Investment KW - Corporate Finance and Governance KW - Index Numbers and Aggregation KW - leading indicators KW - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data KW - Data Access KW - Financial Markets and the Macroeconomy KW - Investment & securities KW - Financial sector development KW - Stock markets KW - Market capitalization KW - Securities markets KW - Financial markets KW - Financial services industry KW - Stock exchanges KW - Financial instruments KW - Trinidad and Tobago UR - https://www.unicat.be/uniCat?func=search&query=sysid:84783704 AB - There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers. ER -