Fiscal policy and financial development / prepared by David Hauner.

We examine the effects of public sector borrowing from the domestic banking system on financial development in middle-income countries. While these countries' external debt has been falling, the share of bank credit absorbed by the public sector has been rising rapidly. We argue that this runs...

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Bibliographic Details
Main Author: Hauner, David (Author)
Corporate Author: International Monetary Fund. Fiscal Affairs Department
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept., ©2006.
Series:IMF working paper ; WP/06/26.
Subjects:
Online Access:Click for online access

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245 1 0 |a Fiscal policy and financial development /  |c prepared by David Hauner. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, Fiscal Affairs Dept.,  |c ©2006. 
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504 |a Includes bibliographical references (pages 22-24). 
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520 |a We examine the effects of public sector borrowing from the domestic banking system on financial development in middle-income countries. While these countries' external debt has been falling, the share of bank credit absorbed by the public sector has been rising rapidly. We argue that this runs the risk of slowing financial development by affecting structural characteristics of the banking systems. We find empirical evidence that too much public sector borrowing harms financial deepening, and that banks mainly lending to the public sector tend to be more profitable but less efficient. We note that these effects add to the costs of fiscal prolificacy. 
505 0 |a Contents -- I. INTRODUCTION -- II. HOW IMPORTANT IS PUBLIC SECTOR CREDIT, AND WHERE? -- III. HOW PUBLIC SECTOR CREDIT COULD HARM FINANCIAL DEVELOPMENT -- IV. DOES PUBLIC SECTOR CREDIT AFFECT THE DEPTH OF FINANCIAL DEVELOPMENT? -- V. DOES PUBLIC SECTOR CREDIT AFFECT THE QUALITY OF FINANCIAL DEVELOPMENT? -- VI. CONCLUDING REMARKSâ€?IMPLICATIONS FOR FISCAL POLICY -- APPENDIX TABLES -- REFERENCES 
650 0 |a Fiscal policy. 
650 0 |a Debts, Public. 
650 0 |a Finance. 
650 0 |a Banks and banking. 
650 0 |a Economic development. 
650 7 |a finance.  |2 aat 
650 7 |a economic development.  |2 aat 
650 7 |a Banks and banking  |2 fast 
650 7 |a Debts, Public  |2 fast 
650 7 |a Economic development  |2 fast 
650 7 |a Finance  |2 fast 
650 7 |a Fiscal policy  |2 fast 
710 2 |a International Monetary Fund.  |b Fiscal Affairs Department. 
758 |i has work:  |a Fiscal policy and financial development (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCH7QKdPXBcvwpM9yTBJfVP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
830 0 |a IMF working paper ;  |v WP/06/26. 
856 4 0 |u https://ebookcentral.proquest.com/lib/holycrosscollege-ebooks/detail.action?docID=3014380  |y Click for online access 
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