Publication:
Finance and Macroeconomic Volatility

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dc.contributor.authorDenizer, Cevdet
dc.contributor.authorIyigun, Murat F.
dc.contributor.authorOwen, Ann L.
dc.date.accessioned2014-08-27T18:11:29Z
dc.date.available2014-08-27T18:11:29Z
dc.date.issued2000-11
dc.description.abstractCountries with more developed financial sectors, experience fewer fluctuations in real per capita output, consumption, and investment growth. But the manner in which the financial sector develops matters. The relative importance of banks in the financial system is important in explaining consumption, and investment volatility. The proportion of credit provided to the private sector, best explains volatility of consumption, and output. The authors generate their main results using fixed-effects estimates with panel data from seventy countries for the years 1956-98. Their general findings suggest that the risk management, and information processing provided by banks, maybe especially important in reducing consumption, and investment volatility. The simple availability of credit to the private sector, probably helps smooth consumption, and GDP.en
dc.identifierhttp://documents.worldbank.org/curated/en/2000/11/748668/finance-macroeconomic-volatility
dc.identifier.doi10.1596/1813-9450-2487
dc.identifier.urihttps://hdl.handle.net/10986/19762
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 2487
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAGGREGATE OUTPUT
dc.subjectAGGREGATE SUPPLY
dc.subjectAGGREGATE SUPPLY CURVE
dc.subjectANNUAL GROWTH
dc.subjectANNUAL OBSERVATIONS
dc.subjectASYMMETRIC INFORMATION
dc.subjectAVERAGE GROWTH
dc.subjectAVERAGE GROWTH RATE
dc.subjectAVERAGE LEVEL
dc.subjectBANKING INDUSTRY
dc.subjectBANKS
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL BANK
dc.subjectCONTAGION
dc.subjectCORPORATE GOVERNANCE
dc.subjectCOUNTRY CHARACTERISTICS
dc.subjectCOUNTRY EFFECTS
dc.subjectCOUNTRY REGRESSIONS
dc.subjectCOUNTRY RESULTS
dc.subjectCOUNTRY SPECIFIC
dc.subjectCREDIT MARKETS
dc.subjectCROSS COUNTRY
dc.subjectCROSS-COUNTRY COMPARISONS
dc.subjectCROSS-COUNTRY DATA
dc.subjectCROSS-COUNTRY REGRESSION
dc.subjectCROSS-SECTIONAL DATA
dc.subjectDATA AVAILABILITY
dc.subjectDATA SET
dc.subjectDATA SETS
dc.subjectDEBT
dc.subjectDEPENDENT VARIABLE
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPMENT INDICATORS
dc.subjectDIVERSIFICATION
dc.subjectDOMESTIC CREDIT
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DYNAMICS
dc.subjectECONOMIC EQUILIBRIUM
dc.subjectECONOMIC FLUCTUATIONS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC LITERATURE
dc.subjectECONOMIC REVIEW
dc.subjectECONOMIC STUDIES
dc.subjectECONOMIC THEORY
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPIRICAL LITERATURE
dc.subjectEMPIRICAL RESULTS
dc.subjectEMPIRICAL STUDIES
dc.subjectEMPIRICAL WORK
dc.subjectENDOGENOUS GROWTH
dc.subjectERROR TERM
dc.subjectESTIMATION TECHNIQUES
dc.subjectEXCHANGE RATE
dc.subjectEXOGENOUS SHOCKS
dc.subjectEXOGENOUS VARIABLE
dc.subjectEXPLANATORY POWER
dc.subjectEXTERNAL SHOCKS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SECTORS
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIXED EFFECTS
dc.subjectFIXED EFFECTS ESTIMATION
dc.subjectFOREIGN EXCHANGE
dc.subjectGDP
dc.subjectGROWTH LITERATURE
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectGROWTH REGRESSIONS
dc.subjectHIGH INCOME COUNTRIES
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINDEPENDENT VARIABLES
dc.subjectINDUSTRIALIZED COUNTRIES
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINTEREST RATE
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectLABOR MARKET
dc.subjectLIQUIDITY
dc.subjectLONG RUN
dc.subjectM2
dc.subjectMACROECONOMIC FACTORS
dc.subjectMACROECONOMIC PERFORMANCE
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMARKET IMPERFECTIONS
dc.subjectMONETARY ECONOMICS
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectNEGATIVE RELATIONSHIP
dc.subjectNEGATIVE SIGN
dc.subjectNET WORTH
dc.subjectOPEN ECONOMIES
dc.subjectOUTPUT GROWTH
dc.subjectOUTPUT VOLATILITY
dc.subjectPER CAPITA CONSUMPTION
dc.subjectPER CAPITA CONSUMPTION GROWTH
dc.subjectPER CAPITA INCOME
dc.subjectPER CAPITA INCOMES
dc.subjectPOLICY CHANGES
dc.subjectPOLICY RESEARCH
dc.subjectPOLITICAL ECONOMY
dc.subjectPOSITIVE COEFFICIENT
dc.subjectPOSITIVE EFFECT
dc.subjectPOSITIVE RELATIONSHIP
dc.subjectPOVERTY REDUCTION
dc.subjectPRIVATE SECTOR
dc.subjectPUBLIC SECTOR
dc.subjectRANDOM EFFECTS
dc.subjectREAL GDP
dc.subjectREGRESSION TECHNIQUES
dc.subjectRELATIVE IMPORTANCE
dc.subjectRELATIVE SUPPLY
dc.subjectRESOURCE ALLOCATION
dc.subjectRISK MANAGEMENT
dc.subjectSENSITIVITY ANALYSIS
dc.subjectSIGNIFICANCE LEVEL
dc.subjectSIGNIFICANT RELATIONSHIP
dc.subjectSMOOTHING CONSUMPTION
dc.subjectSTANDARD DEVIATION
dc.subjectTRANSACTIONS COSTS
dc.titleFinance and Macroeconomic Volatilityen
dspace.entity.typePublication
okr.date.disclosure2000-11-30
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2000/11/748668/finance-macroeconomic-volatility
okr.globalpracticePoverty
okr.globalpracticeFinance and Markets
okr.guid453261468767094681
okr.identifier.doi10.1596/1813-9450-2487
okr.identifier.externaldocumentum000094946_00121405334688
okr.identifier.internaldocumentum748668
okr.identifier.reportWPS2487
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2001/01/06/000094946_00121405334688/Rendered/PDF/multi_page.pdfen
okr.sectorOther Finance
okr.sectorFinance
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicEnvironmental Economics and Policies
okr.topicPoverty Reduction::Inequality
okr.unitPoverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region
okr.volume1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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