Financial Sector Strategies and Financial Sector Outcomes : Do the Strategies Perform?

Melecky, Martin ; Podpiera, Anca Maria

World Bank, Washington, DC

关键词: FINANCIAL INCLUSION;    FINANCIAL DEPTH;    STABILITY;    EFFICIENCY;    POLICY COORDINATION;   

DOI  :  10.1596/1813-9450-8315
RP-ID  :  WPS8315

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Financial sector strategies enablefinancial policy makers and stakeholders to take a holisticview of the financial development needs in their country andformulate balanced financial policies. They help policymakers consider the systemic risk that different developmentpolicies involve and choose an informed way forward. Thisstudy constructed a new data set of historical financialsector strategies covering 150 countries over 1985-2014. Itassesses the strategies using the rating criteria proposedby Maimbo and Melecky (2014). It further investigates howthe quality of the strategies can affect financial sectoroutcomes, such as financial depth, inclusion, efficiency,and stability. The investigation finds that the use offinancial sector strategies helped increase financial sectordeepening, inclusion, and stability, and this impact couldbe greater for higher-quality strategies. However, asignificant relationship between the use of strategies andthe efficiency of banks is not confirmed. One way howfinancial sector strategies can improve financial sectoroutcomes is by improving the regulatory framework for finance.